US Bancorp (USB) NewsBite - USB Earnings Delight Investors

Posted: Wednesday, October 21, 2009 9:50 AM EDT

US Bancorp (NYSE: USB) opened at $24.43. So far today, the stock has hit a low of $24.32 and a high of $25.51. USB is now trading at $25.44, up $1.64 (6.89%). Over the last 52 weeks the stock has ranged from a low of $8.06 to a high of $32.35. USB shares are rising this morning after the company reported a third-quarter profit of $603 million, or 30 cents per share, on revenue of $4.3 billion, beating analysts' projections of 27 cents per share on revenue of $4.12 billion. Technical indicators for the stock are bearish and S&P gives USB a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on USB the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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