Pitney Bowes (PBI +1%) shrugs off a downgrade by Moody's to trade higher this morning. The...


Pitney Bowes (PBI +1%) shrugs off a downgrade by Moody's to trade higher this morning. The ratings agency cut the company one notch closer to junk territory, citing concerns for its North American and international mailing businesses and a weak macroeconomic environment. Moody's notes that PBI's core postal-metering business occupies a sizeable position in the office equipment industry, but it's facing a tough road ahead as traditional mail volume continues to dwindle.

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