AmEx Investors Seek Revenue Boost as Firm Cuts Costs, Reshuffles

  • Stock rises less than 1% after CEO announces sweeping overhaul
  • CEO Chenault: `We must transform the way the company works'

American Express Co.’s $1 billion cost-cutting target and management changes announced on Wednesday did little to reverse its stock rout as investors and analysts wait to see whether the moves will succeed in boosting revenue.

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