24/7 Market News Snapshot 23 January, 2025 – Pitney Bowes Inc. (NYSE:PBI)

January 23, 2025

DENVER, Colo., 23 January, 2025 (247marketnews.com) – (NYSE:PBI) are discussed in this article.
Pitney Bowes Inc. has demonstrated a strong rally in its stock performance, opening today at $7.41 and surging by 12.5% to a current trading price of $8.235. This rise follows a previous close of $7.32, indicating robust bullish momentum and heightened market interest, reflected in a trading volume of 3.08 million shares. Observers note that the breakout above the $7.41 resistance level could signal further upside potential, as the stock nears critical psychological barriers. However, traders are advised to stay vigilant for any signs of reversal or profit-taking as the price continues to climb.

In a significant strategic development, Pitney Bowes announced the early retirement of approximately $97 million in senior secured notes, known as the 2028 Notes, which were issued to Oaktree Capital Management, L.P. in July 2023. This pivotal action, funded through cash reserves, underscores the company’s commitment to improving its financial stability as a core aspect of its balance sheet deleveraging strategy. The prepayment not only enhances Pitney Bowes’ financial position but also increases its flexibility in capital allocation, setting the stage for potential future value-generating opportunities.

The company anticipates reporting its full-year 2024 results in alignment with prior revenue guidance while exceeding adjusted EBIT benchmarks. This expected outperformance is a testament to stronger-than-anticipated business execution and accelerated cost reductions that are materializing more rapidly than planned. Lance Rosenzweig, CEO of Pitney Bowes, expressed his confidence in the firm’s trajectory, emphasizing the management team’s dedication to efficiency and fiscal strength. The anticipated fourth-quarter and full-year earnings announcement for 2024 is imminent, accompanied by an investor conference call to elucidate these results. Pitney Bowes remains focused on providing innovative solutions in SaaS shipping, mailing technology, and financial services, catering to a wide array of clients, including numerous Fortune 500 companies.

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