Markets capitulated amidst ongoing coronavirus concerns this week, although we were actually encouraged by the willingness of several major sports organizations to suspend play in response to the growing public health crisis.
Read MoreStamps.com (STMP) stole the show this week as shares basically doubled following the release of the company’s Q4 ’19 results. As noted in our recap, Strong Results and Guidance Remove Major Overhang, the big surprise was management’s outlook for growth in FY ’20 when many, us included, had assumed newly negotiated terms between the United States Postal Service (USPS) and its reseller partners would present a headwind to growth over a multi-year horizon.
Read MoreDepending on news flow next week, this may well be our last weekly recap for 2019, so we wish you all a safe and happy holiday season! Last week, media reports indicated that LogMeIn (LOGM) was set to be acquired by affiliates of private equity firm Francisco Partners and Elliott Management in a deal valued at over $4.0 billion.
Read MoreFollowing months of speculation over Stamps.com’s (STMP) prospects for securing a new strategic partnership to mitigate the loss of incentive fees from the United States Postal Service (USPS), we were excited to see the company highlighted as a preferred partner under UPS’ Digital Access Program. We refer readers to our initial take on the news, “UPS Signs Agreement to Offer Discounted Shipping Rates to Stamps.com’s Customer Base,” for a more detailed discussion of the implications.
Read MoreEarlier this week, members of the Universal Postal Union (UPU) approved a proposal, known as “Option V,” enabling certain member countries to self-declare rates for the delivery of inbound international bulky letters and packets beginning July 1, 2020. The decision was significant as the U.S. will now remain a member of the UPU after threatening to pull out a year ago.
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