Pitney Bowes (PBI.US), commerce-solutions provider, jumped over 10% during today’s US session. Investors rushed to buy its shares after private equity firm Thoma Bravo said it will buy Stamps.com (STMP.US) - the rival of Pitney Bowes.
Shares of Stamps.com (STMP.US) are soaring as the PE firm will pay $330 cash for each share in a $6.6 billion takeover. Therefore, the stock spiked more than 60%, climbing near the $330 mark.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appInterestingly, Pitney Bowes stocks jumped as well - market participants clearly consider Stamps.com takeover as positive for Pitney Bowes company, possibly due to hopes of lower competition or speculation that the company will be taken over in the future as well.
The technicals of Pitney Bowes (PBI.US) stock look quite interesting. Yesterday its shares tested an upward trendline, but the price managed to bounce off. Therefore, one cannot rule out that today’s impulse is also associated with the technicals. However, bulls were not able to smash through the $10 area, where 2 previous local highs may be found. According to technical analysis, it is possible that a breakout will occur in the coming days (in either direction) so it may be worth to watch the ongoing situation on the chart. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
