American Express Company (AXP) saw a big move last session, as the company’s shares fell by over 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for AXP as the stock is now up around 7% since Jan 30.

On Feb 12, American Express declared that its co-brand and merchant acceptance deals with Costco Wholesale Corporation were about to end on Mar 31, 2016. However American Express failed to renew the agreement with Costco.

This slump shouldn’t be too much of a surprise to investors, as the financial-miscellaneous service company has seen 13 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.

AXP currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.

A better-ranked stock in the same sector is Blackhawk Network Holdings, Inc. (HAWKB) sporting a Zacks Rank #1 (Strong Buy).

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