U.S. Bancorp
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Financials : Banks | Large Cap Value
Company profile

U.S. Bancorp is a financial services holding company. The Company provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing. Its banking subsidiary, U.S. Bank National Association, is engaged in the general banking business and offers commercial and consumer lending, lending services, depository services and ancillary services. Its non-banking subsidiaries offer investment and insurance products to the Company's customers principally within its domestic markets, and fund administration services to a range of mutual and other funds. The Company's bank and trust subsidiaries provide a range of asset management and fiduciary services for individuals, estates, foundations, business corporations and charitable organizations.

Premarket

Last Trade
Delayed
$48.55
0.15 (0.31%)
Bid
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Ask
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B/A Size
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Market Hours

Closing Price
$48.40
Day's Change
0.00 (0.00%)
Bid
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Ask
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B/A Size
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Day's High
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Day's Low
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Volume
(Light)
Volume:
710

10-day average volume:
6,525,657
710

UPDATE: Casper Sleep is missing out on sales, analysts say

12:44 pm ET August 12, 2020 (MarketWatch)
Print

Casper Sleep Inc. (CSPR) is "leaving sales on the table" and underperforming competitors like Tempur Sealy International Inc. (TPX) and Purple Innovation Inc. (PRPL), according to Wedbush analysts. The mattress company reported second-quarter revenue that beat FactSet expectations, but missed Wedbush's forecast. "Given 55%+ gross margins in the online channel and depressed advertising rates, the economics to capture additional sales and drive incremental profit should be compelling," analysts led by Seth Basham wrote. "This is particularly true in a very robust demand environment and with a business model geared to the fast-growing online channel." Casper's revenue for the quarter totaled $110.2 million, with direct-to-consumer revenue totaling $81 million, up 5% from last year. The company also announced new retail partnerships with Walmart Inc.'s (WMT) Sam's Club warehouse retail chain and Ashley Home Store among them. "Casper is underperforming most publicly-traded mattress peers (such as Tempur Sealy and Purple) on top line growth and bottom line profitability in recent months," Wedbush said. "[C]ontinued relative sales growth weakness in its core direct-to-consumer business (only low-single-digit growth in May and June) leaves us disappointed." Wedbush rates Casper stock neutral with an $8, up $1. Casper announced its quarterly earnings on Tuesday (http://www.marketwatch.com/story/casper-sleep-is-missing-out-on-sales-analysts-say-2020-08-12), with shares closing the day down 6.2%. For the last three months, Casper stock has gained 39.3% while the S&P 500 index has rallied 17.6% for the period.

-Tonya Garcia; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

August 12, 2020 12:44 ET (16:44 GMT)

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