Shares of Major Credit Card Companies Mixed

Sector Snap: Credit card companies mixed - Forbes.com

Associated Press
Sector Snap: Credit card companies mixed
Associated Press,

Shares of major credit card companies were mixed Thursday, as several analysts warned that ongoing credit deterioration and a decline in consumer spending will likely pressure earnings for some time.

Investors got some mixed data about credit card losses Wednesday: Capital One Financial Corp. said its U.S. and international credit card defaults jumped in March, but American Express Co. said defaults in its U.S. card unit rose only slightly. The latter report indicated that some cardholders may be having an easier time paying their bills.

Visa shares fell 99 cents to $58.12, while MasterCard dropped $3.99, or 2.4 percent, to $161.47.

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Visa, MasterCard, Discover, American Express, Capital One

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