Stock Watch: Stamps.com Soars on Intuit Deal

Stamps.com climbed 1 19/100 to 4 3/4 Wednesday on news that the Net-based postage system will be bundled with 2001 Quicken financial software from Intuit (Nasdaq: INTU). Although Stamps.com saw a 33 percent surge, the stock is still trading at a fraction of last fall’s high of 98 1/2.

The deal with Intuit is the latest in a series of key alliances for Stamps.com. The agreement will bring the company’s Internet postage system, which enables users to print postage on their computers, to 2001 versions of Intuit’s Quicken Basic, Quicken Deluxe and Quicken Home & Business software.

The “enormous reach of Quicken’s loyal user base” will provide a considerable boost for Stamps.com, said Doug Walner, senior vice president and general manager for the site’s small business unit.

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