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Oct. 21, 2019, 4:26 p.m. EDT

Stamps.com lands deal with UPS, stock shoots more than 15% higher in after-hours trading

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By Jeremy C. Owens

Stamps.com Inc. /zigman2/quotes/202777086/composite STMP -2.23% shares jumped more than 15% in after-hours trading Monday following the announcement of a deal with United Parcel Service Inc. /zigman2/quotes/201245396/composite UPS +1.43% The arrangement gives users of Stamps.com's at-home printing services discounted shipping rates as part of a new Digital Access Program for UPS. It was part of a broad range of new partnerships and tech initiatives that UPS announced after the markets closed Monday. "This new collaboration with UPS will make UPS shipping services available to Stamps.com's customers at attractive discounts of up to 55 percent off daily rates, including various waived surcharges," UPS stated in its announcement . Stamps.com could use the boost toward the end of a rough 2019, which started with a gigantic stock dive after the company declined to extend its exclusive partnership with the U.S. Postal Service in order to look for deals with other shippers. Stamps.com stock had declined more than 50% this year through Monday's regular trading session, which ended with shares up 0.7% at $76.13; after the partnership was announced, shares were trading for $88 and higher in the extended session.

/zigman2/quotes/202777086/composite
US : U.S.: Nasdaq
$ 83.14
-1.90 -2.23%
Volume: 220,762
Dec. 13, 2019 4:00p
P/E Ratio
18.55
Dividend Yield
N/A
Market Cap
$1.42 billion
Rev. per Employee
$497,820
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/zigman2/quotes/201245396/composite
US : U.S.: NYSE
$ 118.62
+1.67 +1.43%
Volume: 2.97M
Dec. 13, 2019 6:30p
P/E Ratio
20.62
Dividend Yield
3.24%
Market Cap
$101.75 billion
Rev. per Employee
$149,503
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