Pitney Bowes (PBI) Soars 9.9% on Higher Postal Service Fee

We recently published Market on Mute? Not for These 10 Stocks With Surprising Gains. Pitney Bowes Inc. (NYSE:PBI) is one of Monday's top performers.

Pitney Bowes Inc. (NYSE:PBI) jumped by 9.9 percent on Monday to close at $12.10 apiece as investors took path from the increase in prices of shipping services that began on Sunday, July 13.

This followed the Postal Service’s notification to the Postal Regulatory Commission (PRC) in May this year that raised domestic shipping services by approximately 6.3 percent for Priority Mail service, 7.1 percent for USPS Ground Advantage, and 7.6 percent for Parcel Select. Prices have not changed for Priority Mail Express service.

According to USPS, the proposed changes will support the Postal Service in creating a revitalized organization capable of providing a nationwide, integrated network for the delivery of mail and packages at least six days a week, in a cost-effective and financially sustainable manner over the long term, just as the U.S. Congress has intended.

Pitney Bowes Inc. (NYSE:PBI), a US-based global shipping and mailing company, is expected to benefit from higher prices for its services.

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Disclosure: None. This article is originally published at Insider Monkey.