American Express is trading 3.35% down at $314.29 after reporting revenue below estimates.
- Third-quarter adjusted earnings were $4.68 per share, above expectations, while revenue was $20.06 billion and network volume was softer than expected.
- The company plans to eliminate about 5% of its global workforce, or roughly 3,500 positions, and raised its 2026 profit outlook.
- The broader market is also lower amid geopolitical concerns and rising oil prices.