Pitney Bowes Sells Software Solutions Business, Lowers EPS Guidance

Pitney Bowes 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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