You had good growth in the cards in force, you had good average spend on the cards, and the discount rate held in there steady. And they're still investing in their marketing programs. They still think there are attractive opportunities out there.
Ed Groshans
With that premium and given their size, its not clear that there would be a plethora of demand to buy something that large.
demand
force growth good marketing opportunities investing attractive
That could be bad news for American Express.
bad news express american
In the end, there's a high likelihood that in ten years, Capital One will look more like a thrift. I'd be surprised if I don't hear them make another bank acquisition by late 2006 in hot markets such as Florida or Texas.
acquisition end texas hear hot
It's those incremental time savings that these merchants are looking for. They may lose sales if the lines are too long.
time lose sales savings
He made the comment that there's nothing new. That alleviates a lot of the concerns in this stock.
made
You're starting to see a little bit of a relief rally.
starting relief
It was a great quarter and the stock rallied hard on that
hard great
MasterCard's going to become more competitive and focused on growing its bottom line rather than protecting the association
growing
That's making the 60 cents (a share earnings) look a lot softer. We're not too concerned about it. But if you want to call this a hit, it's not the best hit we've ever seen.
share call
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