Significant ETF Withdrawals Observed - ESGU, AXP, HIG, PANW
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 26 2025
0mins
Should l Buy AXP?
Source: NASDAQ.COM
52-Week Range of ESGU: ESGU's share price has a 52-week low of $105.18 and a high of $150.93, with the last trade recorded at $148.25.
Understanding ETFs: Exchange-traded funds (ETFs) function like stocks, where investors buy and sell "units" that can be created or destroyed based on demand.
Monitoring ETF Flows: Weekly monitoring of shares outstanding helps identify ETFs with significant inflows (new units created) or outflows (units destroyed), impacting the underlying holdings.
Disclaimer: The views expressed in the article are those of the author and do not necessarily represent Nasdaq, Inc.
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Analyst Views on AXP
Wall Street analysts forecast AXP stock price to rise
21 Analyst Rating
8 Buy
12 Hold
1 Sell
Moderate Buy
Current: 326.960
Low
280.00
Averages
379.06
High
425.00
Current: 326.960
Low
280.00
Averages
379.06
High
425.00
About AXP
American Express Company is a global payments and premium lifestyle brand powered by technology. Its card-issuing, merchant-acquiring and card network businesses offer products and services to a broad range of customers, including consumers, small businesses, mid-sized companies and large corporations around the world. Its range of products and services includes credit and charge cards and complementary products and services, including travel, dining, lifestyle and expense management products and services; banking and other payment and financing products and services, including deposits and non-card lending; merchant acquisition and processing, servicing and settlement, fraud prevention, and point-of-sale marketing and information products and services, and network services. These products and services are offered through various channels, including mobile and online applications, affiliate marketing, customer referral programs, third-party service providers, and business partners.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Delta Air Lines Stock Soars 75% Amid Strong Financials
- Strong Financial Performance: Delta Air Lines reported record operating revenue of $14.2 billion in Q1 2026, reflecting a nearly 10% year-over-year increase, showcasing the company's robust competitive position and recovery in market demand.
- High-Margin Revenue Growth: High-margin revenue streams accounted for 62% of total revenue, with premium offerings growing 14%, indicating a successful transformation that reduces reliance on price-sensitive economy tickets and enhances business resilience.
- Cash Flow and Debt Management: Delta generated $2.4 billion in operating cash flow in the March quarter and paid down $1.6 billion in debt, reducing adjusted net debt to $13.5 billion, demonstrating ongoing financial improvement and enhanced future profitability potential.
- Attractive Valuation: Despite the stock's rise, Delta trades at a price-to-earnings ratio of about 10.5, below industry averages, and if the company maintains its growth trajectory, it could see average annual earnings growth of 10% to 15% over the next five years, suggesting the current valuation is overly pessimistic.
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Delta Air Lines Reports Strong Cash Flow and Revenue Growth
- Strong Financial Performance: Delta Air Lines reported record operating revenue of $14.2 billion in Q1 2026, reflecting a nearly 10% year-over-year increase, showcasing the company's robust performance and growth potential in the airline market.
- High-Margin Revenue Growth: High-margin revenue streams accounted for 62% of total revenue, with premium offerings like Delta One and first-class services growing 14% year-over-year, while loyalty-related revenue increased by 13%, indicating a successful transformation towards a more resilient, high-margin business model.
- Robust Cash Flow Generation: The airline generated $2.4 billion in operating cash flow during the March quarter, with a strong free cash flow of $1.2 billion after capital expenditures, demonstrating effective financial management and capacity for future investments.
- Debt Reduction and Future Outlook: Delta paid down $1.6 billion in debt during the quarter, reducing adjusted net debt to $13.5 billion, and with an improving balance sheet, the company is expected to lead the industry in generating $1 billion in profit over the coming quarters.
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- Loan Write-Off Rate: The net write-off rate for small business loans is currently at 2.9%.
- Market Context: This figure reflects the financial health and risk management within the small business lending sector as of March.
See More
American Express Reports 1.7% of U.S. Small Business Card Member Loans Were 30 Days Past Due at End of March
- Loan Delinquency Rate: As of March, 1.7% of small business loans were reported as 30 days past due.
- Focus on Small Businesses: The data highlights the financial health of small businesses in the current economic climate.
See More
American Express's Unique Business Model and Growth Potential
- Unique Business Model: American Express operates a closed-loop payments network, acting as the card issuer, network, and merchant acquirer, which allows it to capture a higher share of each transaction; 76% of its 2025 revenue will come from discount revenue, annual fees, and service fees, highlighting its spend-centric model.
- Premium Ecosystem: Positioned as a premium consumption platform, American Express offers airport lounge access, travel benefits, and curated partnerships, attracting 65% of new accounts from younger, high-income consumers, which drives sustained customer spending growth over time.
- International Market Expansion: In Q4 2025, international card services volume grew by 12%, outpacing the 9% growth of U.S. consumer services, indicating significant growth potential beyond its core U.S. market, particularly among high-spending consumers.
- Investor Outlook: Rather than aiming to be the largest payments network like Visa or Mastercard, American Express focuses on maximizing value per customer within its integrated premium ecosystem, a strategy that has enabled decades of growth and remains relevant, making it a stock worth watching for investors.
See More
American Express Expands Card Member Purchase Protections to Agentic Purchases
- Purchase Protection Expansion: American Express (AXP) extends card member purchase protections to agentic purchases, ensuring that customers are protected from errors made by AI agents when authorized, thereby enhancing customer trust and willingness to use the service.
- Developer Kit Launch: The company introduces an agentic commerce developer kit aimed at providing better services for merchants and cardholders, with merchants expected to see reduced disputes and chargebacks due to increased visibility, thus improving overall transaction efficiency.
- Enhanced Security: American Express's closed-loop network, functioning as an issuer, network, and acquirer, allows the company to holistically manage the challenges posed by agentic commerce, delivering intent-driven authorizations and enhanced fraud protection to improve security for both card members and merchants.
- Improved Member Controls: Card members gain granular spend controls through the Amex app, which will embed membership benefits, rewards, and offers directly into agent-powered interactions over time, further enhancing customer experience and loyalty.
See More
Delta Air Lines Stock Soars 75% Amid Strong Financials
- Strong Financial Performance: Delta Air Lines reported record operating revenue of $14.2 billion in Q1 2026, reflecting a nearly 10% year-over-year increase, showcasing the company's robust competitive position and recovery in market demand.
- High-Margin Revenue Growth: High-margin revenue streams accounted for 62% of total revenue, with premium offerings growing 14%, indicating a successful transformation that reduces reliance on price-sensitive economy tickets and enhances business resilience.
- Cash Flow and Debt Management: Delta generated $2.4 billion in operating cash flow in the March quarter and paid down $1.6 billion in debt, reducing adjusted net debt to $13.5 billion, demonstrating ongoing financial improvement and enhanced future profitability potential.
- Attractive Valuation: Despite the stock's rise, Delta trades at a price-to-earnings ratio of about 10.5, below industry averages, and if the company maintains its growth trajectory, it could see average annual earnings growth of 10% to 15% over the next five years, suggesting the current valuation is overly pessimistic.
See More
Delta Air Lines Reports Strong Cash Flow and Revenue Growth
- Strong Financial Performance: Delta Air Lines reported record operating revenue of $14.2 billion in Q1 2026, reflecting a nearly 10% year-over-year increase, showcasing the company's robust performance and growth potential in the airline market.
- High-Margin Revenue Growth: High-margin revenue streams accounted for 62% of total revenue, with premium offerings like Delta One and first-class services growing 14% year-over-year, while loyalty-related revenue increased by 13%, indicating a successful transformation towards a more resilient, high-margin business model.
- Robust Cash Flow Generation: The airline generated $2.4 billion in operating cash flow during the March quarter, with a strong free cash flow of $1.2 billion after capital expenditures, demonstrating effective financial management and capacity for future investments.
- Debt Reduction and Future Outlook: Delta paid down $1.6 billion in debt during the quarter, reducing adjusted net debt to $13.5 billion, and with an improving balance sheet, the company is expected to lead the industry in generating $1 billion in profit over the coming quarters.
See More
AMERICAN EXPRESS REPORTS 2.9% NET WRITE-OFF RATE FOR PRELIMINARY U.S. SMALL BUSINESS CARD MEMBER LOANS AS OF MARCH END
- Loan Write-Off Rate: The net write-off rate for small business loans is currently at 2.9%.
- Market Context: This figure reflects the financial health and risk management within the small business lending sector as of March.
See More
American Express Reports 1.7% of U.S. Small Business Card Member Loans Were 30 Days Past Due at End of March
- Loan Delinquency Rate: As of March, 1.7% of small business loans were reported as 30 days past due.
- Focus on Small Businesses: The data highlights the financial health of small businesses in the current economic climate.
See More
American Express's Unique Business Model and Growth Potential
- Unique Business Model: American Express operates a closed-loop payments network, acting as the card issuer, network, and merchant acquirer, which allows it to capture a higher share of each transaction; 76% of its 2025 revenue will come from discount revenue, annual fees, and service fees, highlighting its spend-centric model.
- Premium Ecosystem: Positioned as a premium consumption platform, American Express offers airport lounge access, travel benefits, and curated partnerships, attracting 65% of new accounts from younger, high-income consumers, which drives sustained customer spending growth over time.
- International Market Expansion: In Q4 2025, international card services volume grew by 12%, outpacing the 9% growth of U.S. consumer services, indicating significant growth potential beyond its core U.S. market, particularly among high-spending consumers.
- Investor Outlook: Rather than aiming to be the largest payments network like Visa or Mastercard, American Express focuses on maximizing value per customer within its integrated premium ecosystem, a strategy that has enabled decades of growth and remains relevant, making it a stock worth watching for investors.
See More
American Express Expands Card Member Purchase Protections to Agentic Purchases
- Purchase Protection Expansion: American Express (AXP) extends card member purchase protections to agentic purchases, ensuring that customers are protected from errors made by AI agents when authorized, thereby enhancing customer trust and willingness to use the service.
- Developer Kit Launch: The company introduces an agentic commerce developer kit aimed at providing better services for merchants and cardholders, with merchants expected to see reduced disputes and chargebacks due to increased visibility, thus improving overall transaction efficiency.
- Enhanced Security: American Express's closed-loop network, functioning as an issuer, network, and acquirer, allows the company to holistically manage the challenges posed by agentic commerce, delivering intent-driven authorizations and enhanced fraud protection to improve security for both card members and merchants.
- Improved Member Controls: Card members gain granular spend controls through the Amex app, which will embed membership benefits, rewards, and offers directly into agent-powered interactions over time, further enhancing customer experience and loyalty.
See More
