Pitney Bowes Sells Software Solutions Business, Lowers EPS Guidance.
Byline: Tanzeel Akhtar
Pitney Bowes (NYSE:PBI) has lowered fiscal year 2019 EPS guidance from 90 cents - $1.05 to 65 cents - 75 cents versus the 90 cents analyst estimate.
The company also announced it will sell its software solutions business to Syncsort for $700 million in cash.
The company shares were trading up 8.03% at $3.90 in Monday's pre-market session. The stock has a 52-week high of $8.56 and a 52-week low of $3.14.
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|Date:||Aug 26, 2019|
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