Amex, Discover, Capital One Upgraded

Shares of American Express Co., Capital One Financial Corp. and Discover Financial Services were upgraded to "neutral" from "underperform" by Bank of America Corp., which said the companies will benefit from an economic recovery.

Improving employment trends usually signal that card chargeoffs have peaked, B of A analyst Kenneth Bruce wrote in a research note Monday. The unemployment rate unexpectedly fell to 10% in November.

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