Momentum Stocks: International Business Machines Corporation (NYSE:IBM), The Boeing Company (NYSE:BA), MeetMe, Inc. (NASDAQ:MEET)

April 25, 2023 9:11 am15 commentsViews: 65

CEO of International Business Machines Corporation (NYSE:IBM), Ginni Rometty and her counterpart at General Motors Co., Mary Barra, are slated to attend Allen & Co.’s annual Sun Valley Conference, underscoring a growing number of female as well as non-media attendees. Other women invitees who weren’t on previous year’s list comprises Sara Blakely, founder of the hosiery company Spanx Inc., Eventbrite Inc.’s Julia Hartz, SunEdison Inc.’s Cathy Zoi and Lorna Borenstein of Grokker Inc., which offers cooking and other classes online. They join familiar names on the roster including Facebook Inc.’s Sheryl Sandberg, Yahoo! Inc.’s Marissa Mayer, Hewlett-Packard’s Meg Whitman and Xerox Corp.’s Ursula Burns. International Business Machines Corporation (NYSE:IBM) stock hit highest price at $169.97, beginning with a price of $168.38 to close at 168.62 by an increase of 0.53% with a day range of $167.57-$169.97. The total market capitalization remained 166.05 Billion, total volume of 3.7 Million shares held in the session was surprisingly higher than its average volume of 3722.35 shares.

The Boeing Company (NYSE:BA) declared that its BOD has hired Dennis Muilenburg the firm’s 10th CEO, succeeding W. James McNerney, Jr., who held the position for the past 10 years. Muilenburg, who has served as Boeing president and chief operating officer since 2013, becomes president and CEO on July 1. McNerney, who joined Boeing’s board of directors in 2001, continues as its chairman. To ensure a smooth transition of his CEO responsibilities to Muilenburg, he will continue working as a company employee until retiring at the end of February 2016. On the other consideration, The Boeing Company (NYSE:BA) begun last trade with a price of $146.33 and throughout the trading session climbed at $146.45. The day-trade ended with a decrease of -0.87% to close at $144.43.

MeetMe, Inc. (NASDAQ:MEET) released on Tuesday that it surged its revenue outlook for the Q2, quoting the progress made in transitioning management of its advertising inventory in-house earlier this month. The firm now anticipates Q2 revenues of $10.5M to $10.7M, on top of its prior guidance of $9M to $9.5 million. Analysts polled by Thomson Reuters expect revenues of $9.25 million. The company now projects second-quarter adjusted EBITDA of $1.5 million to $2.0 million, from prior guidance of $250,000 to $750,000. MeetMe, based in New Hope, Pennsylvania, operates a social network for meeting new people on the Web and on mobile platforms. Shares of MeetMe, Inc. (NASDAQ:MEET) opened at $1.33 with 44.89 million outstanding shares and hit to its highest price of $1.44 during the day and finally closed at $1.44 by scoring 8.27%.


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