Shares of Charles Schwab Corp (NYSE:SCHW) ended Tuesday session in red amid volatile trading. The shares closed down -0.42 points or -1.36% at $30.44 with 8.56 million shares getting traded. Post opening the session at $30.46, the shares hit an intraday low of $30.15 and an intraday high of $30.69 and the price vacillated in this range throughout the day. The company has a market cap of $40.56 billion and the numbers of outstanding shares have been calculated to be 1.32 billion shares.
On July 18, 2016 The Charles Schwab Corporation announced that its net income for the second quarter of 2016 was $452 million, up 10% from $412 million for the first quarter of 2016, and up 28% from $353 million for the second quarter of 2015. Net income for the six months ended June 30, 2016 was $864 million, up 32% from the year-earlier period.
CEO Walt Bettinger said, “Our second quarter results mark yet another period of standout financial performance for Schwab. Our 17% year-over-year revenue growth and 28% increase in earnings reflect the power of our successful ‘through clients’ eyes’ strategy and disciplined financial management, particularly in the face of an unsettled economic environment and interest rates that remain near historic lows. Our second quarter pre-tax profit margin of 39.4% was the highest since our record performance in 2008. During the intervening seven-plus years, we have focused on balancing near-term profitability with reinvestment to drive growth, while working through the economic and interest rate aftermath of the financial crisis. From 2009 through mid-2016, we coped with extraordinary pressure on our revenues while investing approximately $3 billion in our brand and service capabilities, expanding our client base by approximately $1.20 trillion to $2.62 trillion, and building our earnings to record level. Our second quarter pre-tax profit margin represented the 13th consecutive quarter in excess of 30% and a significant improvement from the sub-30% margins that followed the crisis.”
Shares of American Express Company (NYSE:AXP) ended Tuesday session in red amid volatile trading. The shares closed down -1.53 points or -2.32% at $64.36 with 5.62 million shares getting traded. Post opening the session at $65.22, the shares hit an intraday low of $64.04 and an intraday high of $65.32 and the price vacillated in this range throughout the day. The company has a market cap of $60.17 billion and the numbers of outstanding shares have been calculated to be 923.78 million shares.
On August 31, 2016 With a shared focus on exceptional service and innovative solutions for the business and leisure traveler, American Express and Delta Private Jets have joined forces to offer a new suite of travel benefits opening a new gateway of custom travel opportunities for select Card Members.
The new Premium Private Jet Program offers a reduced fee for Platinum Card Members who purchase the Delta Private Jets Card Membership, as well as a wide range of other benefits offering control, convenience and style in the air.
“Our Card Members love to travel, and they depend on us to not only make their journey more comfortable, but also make travel more seamless,” said Janey Whiteside, SVP Charge and Benefits for American Express. “Partnering with Delta Private Jets opens up one of the most premium travel experiences for our most jet-setting Card Members, giving them access to a custom, private travel experience at a value and with benefits available only with their Platinum or higher level Card.”
David Sneed, Executive Vice President and Chief Operating Officer of Delta Private Jets, noted, “At Delta Private Jets, we are focused on exceeding the expectations of every traveler, before, during and after their flight. We welcome this opportunity to deliver an outstanding benefit and experience for American Express Card Members with the new Premium Private Jet Program.”