BUZZ-Pitney Bowes leaps on early paydown of Oaktree notes, upbeat earnings signal

Shares of Pitney Bowes PBI.N leap 12.4% to $8.23, a nearly two-month high, on Thurs after co announced early paydown of notes issued to Oaktree Capital, and expects to top full-yr earnings guidance

PBI shares tracking biggest one-day pct advance since Jul 1, 2024, when co boosted cost-savings target amid activist shareholder pressure

Stamford, Connecticutt-based shipping and mailing firm said early Thurs it is paying off remaining balance of $97 mln in 2028 notes issued to Oaktree in Jul 2023

Repayment being funded by cash as part of efforts to deleverage balance sheet, co said

Also, it expects to report 2024 rev within prior forecast range and beat adj EBIT guidance, which it raised to $355-$360 mln in Nov

Anticipated EBIT beat driven by better-than-expected business performance and non-essential cost cuts "that had been conservatively forecasted to materialize in fiscal year 2025," co said in statement

PBI slated to release financial results on Feb 11, after the bell

With move on the session, PBI shares have gained about 90% over the past 12 months