American Express (AXP), Visa (V), and MasterCard (MA) are scheduled to report quarterly results on January 17, 30, and 31, respectively. What to watch for: 1. OUTLOOKS: During the company’s last earnings call, American Express raised its FY18 earnings per share view to $7.30-$7.40 from $6.90-$7.30, and its FY18 revenue up to 9%-10%. Back in October, Visa said its sees FY19 revenue growth of low double-digits, annual operating expense growth of mid-to-high single digit increase, and effective tax rate in the 20.0%-20.5% range. During MasterCard’s last earnings call, the company said it sees FY18 adjusted revenue growth in the “high-teens,” and FY18 adjusted operating expenses in the “mid-teens.” 2. HOSTILE MARKET: Late last month, BofA Merrill Lynch analyst Kenneth Bruce downgraded American Express to Neutral from Buy as he anticipates weaker sentiment for the stock to emerge given the broader market volatility and elevated uncertainty relating to the macroeconomic environment. While he sees AmEx continuing to “deliver its somewhat unique brand of top-line and bottom line growth,” Bruce expects valuation to be restrained following the stock’s recent outperformance. Back in November, his peer at Buckingham also downgraded American Express to Neutral from Buy. Analyst Chris Brendler said American Express is not expensive based on relative historical norms, but shares have outperformed other payment stocks year-to-date. Brendler views shares considerably more balanced at these levels given late-cycle credit concerns and an increasingly “blurry” macro outlook. 3. CHINESE ENTRY DELAYED: The People’s Bank of China declined to acknowledge Visa and MasterCard’s applications to process renminbi payments, according to a report by The Financial Times on Sunday, citing people familiar with the matter. The application delays highlight complaints by overseas companies and White House trade negotiators that China uses informal barriers to block foreign competition in the domestic market, the publication noted. 4. NEAR-TERM CONCERNS: Earlier this month, BofA/Merrill analyst Jason Kupferberg downgraded MasterCard to Neutral from Buy on near-term concerns regarding a deceleration in cross-border and high FY19 estimates. The analyst said that while he remains positive on MasterCard’s long-term outlook, he views catalysts as limited near-term. 5. PARTNERSHIPS: When the company reported quarterly results, American Express also announced an expanded strategic partnership with PayPal (PYPL) to improve the digital payments experience for U.S. American Express Card Members paying with PayPal and Venmo. Back on November 16, Chase (JPM) announced that is teaming up with Visa to bring tap to pay to the industry’s largest portfolio of credit cards. All Chase Visa credit cards, including all co-brand cards, will have tap to pay functionality by the first half of 2019. Chase debit cards will offer the tap to pay feature in the second half of 2019. Last month, MasterCard and Microsoft (MSFT) also announced a strategic collaboration to improve how people manage and use their digital identity. Working together, MasterCard and Microsoft aim to give people a secure, instant way to verify their digital identity with whomever they want, whenever they want.