Why Pitney Bowes Is Delivering for Investors Today

The company just took an important step to get a big albatross off of its back.Pitney Bowes (PBI 11.27%) has agreed to liquidate much of its money-losing e-commerce business with the help of Hilco Global. Investors are cheering the news, sending Pitney Bowes shares up as much as 35% at the open and up 14% as of 11:30 a.m. ET.A big step toward a turnaroundShares of shipping company Pitney Bowes have lost about half their value since the beginning of 2021, with the company weighed down by some poor decisions ...