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Stock Alert: American Express Down 3%

Shares of American Express Co. (AXP) are declining almost 3 percent or $2.50 in Monday's morning trade at $5.82 despite no stock-specific news. The stock has traded in a range of $67.00 to $138.13 in the past 52 weeks.

Friday, American Express announced customer-friendly changes to its reward categories for credit cards amid a change in customer spending patterns as the coronavirus pandemic forces people to stay at home. The limited-time offers started from May 1, 2020.

American Express announced new rewards and statement credit offers for grocery and food delivery as well as streaming and wireless categories across many of its premium credit cards.

For consumers using the $550 annual fee Platinum card, American Express announced statement credits for using select U.S. streaming subscriptions and wireless telephone services.

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