American Express falls after CFO says Q1 expectations too high

American Express (AXP) CFO Christophe Le Caillec said at a UBS conference, “I think Q1’s expectations are too high. You know, when we analyze their — either the sequential here — sequentials between Q4 and Q1, the expectation from investors and analysts is that, you know, this would be pretty flat, and it cannot be flat. I mean, there were at least two reasons why Q1 should be sequentially down from Q4. One is we have one less day, right? Last year was a leap year. So, for us, that translates into about 1 percentage point of growth.” Shares of American Express are down 3%, or $9.44, to $307.33 following the comments.