American Express (ticker AXP) losing business to Visa (ticker V). Again?

CNBC Highlights:
Fidelity Investments said on Monday it is dropping long-time credit card partners American Express Co and Bank of America Corp, ending a 12-year partnership that has generated billions of dollars in fees.
The switch is another setback for American Express, which already is reeling from its lost deal with warehouse club retailer Costco Wholesale Corp. AmEx said earlier this year the loss of the Costco contract would hurt profit for two years. AmEx shares are off 25 percent over the past year.
1

AXP shares started underperforming V shares mid-2015.

Reference

Disclosure: I do not have shares in any of the companies mentioned in this article and don’t plan to initiate purchase within the next 24 hours. I would not receive any compensation for doing this article. I am not a professional financial analyst. This is just a hobby. Lastly, my work is not error-free, but I strive for it to be. Do not consider as a buy or sell advice. Invest at your own risk.

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Happy investing.

Mark Y.

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