Dividend.com: USB Offering Serious Shares

U.S. Bancorp to Offer $2.5 Billion in Shares

U.S. Bancorp(USB Quote) was one of three major banks that announced a large share offering Monday to fund its repayment of government-issued TARP funds.

The Minneapolis-based company said it would sell $2.5 billion in common shares, diluting existing shareholders. The bank has borrowed around $6.6 billion in TARP funds. Shares fell $1.09 or 5% in early afternoon trading Monday.

We had removed shares of USB from our "recommended" list on Oct. 9 when the stock was trading at $30.83. The stock has technical support in the $15 to $16 price area. If the stock can continue its recent rise, we see overhead resistance coming around the $22 to $15 price levels. U.S. Bancorp (USB) is not recommended at this time and holds a Dividend.com DARS rating of 2.9 out of 5 stars.

Priceline.com First-Quarter Profit Jumps 81%; Adjusted Net Beats Estimates

Online travel company Priceline.com(PCLN Quote) said Monday that its first-quarter profit rose significantly from the same quarter last year, but remained cautious due to economic and swine flu concerns.

The Norwalk, Conn., company reported first-quarter net income of 25 million or 53 cents per share, up from $13.8 million or 28 cents per share in the year-ago period. Excluding special one-time items, the company posted adjusted earnings per share of $1.09 compared to 76 cents last year. Quarterly revenue rose 15% to $462 million.

On average, Wall Street analysts expected a profit of 91 cents per share, excluding items, on revenue of $440.8 million.