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Stamps.com: Needham Downgrades on Slower Growth

in News on September 22, 2008 at 4:32 pm PT

Stamps.com (STMP) shares dropped sharply today after Needham’s Mark May cut his rating on the stock Under Perform from Hold. May notes that the company has a large cash position–about $4.64 a share–which generates about 50 percent of its pre-tax income.