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American Express (NYSE:AXP) shares dropped 1 percent after reporting financial results for the fourth quarter. Net income came in at $637 million (56 cents per share), compared to $1.2 billion ($1.01 per share) a year earlier. Excluding items, earnings per share was $1.09, slightly above estimates. The company logged almost $600 million in after-tax charges, with 5,400 job cuts being the primary driver. Mastercard (NYSE:MA) and Visa (NYSE:V) edged slightly higher in late trading.
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