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Stock Alert: IBM Jumps After New CEO's Appointment

Shares of International Business Machines Corporation (IBM) climbed 5.09% or $6.96 on Friday before closing at $143.73. The stock has been trading in a range of $126.85- $152.95 during the past one year.

On January 30, after the bell, IBM had announced Arvind Krishna as its new Chief Executive Officer effective April 6, 2020. Krishna is currently Senior Vice President for Cloud and Cognitive Software at IBM. The largest acquisition in the history of IBM was led by Krishana, when the company bought RedHat, an opensource company, for $34 billion in July last year.

Last month when the company reported fourth-quarter results, revenue had increased 0.1% year-on-year to $21.78 billion. Adjusted EPS was down at $4.71 from $4.87 in the comparable quarter last year, while analysts were expecting $4.68 per share.

For the full-year 2020, the company expects to report adjusted EPS of at least $13.35. Analysts have a consensus estimate of $13.37.

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