Pitney Bowes (PBI) Ramps; USPS Shift May Have Less Impact than Expected
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Amid the USPS saying it would cancel Saturday delivery, shares of Pitney Bowes (NYSE: PBI) are ramping on the session today.
Largely, the move shouldn't affect Pitney Bowes, which makes office and postage equipment for home and commercial. According to the USPS, the move to Monday through Friday service will only affect Street addresses. "Packages will continue to be delivered six days per week. Mail addressed to PO Boxes will continue to be delivered on Saturdays. Post Offices currently open on Saturdays will remain open on Saturdays," noted the agency.
People shipping out mail will still do so whether or not mail is delivered on Saturday or not, though a larger move to digital documents may also happen over a longer-term time frame.
Shares are up about 3 percent on the session.
Largely, the move shouldn't affect Pitney Bowes, which makes office and postage equipment for home and commercial. According to the USPS, the move to Monday through Friday service will only affect Street addresses. "Packages will continue to be delivered six days per week. Mail addressed to PO Boxes will continue to be delivered on Saturdays. Post Offices currently open on Saturdays will remain open on Saturdays," noted the agency.
People shipping out mail will still do so whether or not mail is delivered on Saturday or not, though a larger move to digital documents may also happen over a longer-term time frame.
Shares are up about 3 percent on the session.
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