EARNINGS DOWN: American Express' net income fell 47 percent in the fourth quarter, as the credit card issuer racked up charges related to restructuring costs and other expenses. The company's adjusted earnings beat Wall Street estimates.

THE NUMBERS: For the three months ended Dec. 31, net income fell to $637 million, or 56 cents per share. That compares with net income of $1.2 billion, or $1.01 per share, in the same period last year. Revenue in the latest quarter grew 5 percent to $8.14 billion.

SPENDING UP: Spending by American Express cardholders rose 8 percent.