Pitney Bowes (PBI) Pops Higher, Taps Former IBM Exec as Marketing Chief

May 3, 2013 11:21 AM EDT
Pitney Bowes Inc. (NYSE: PBI) is seeing a nice bounce higher Friday after a disappointing quarterly report earlier in the week.

On Tuesday, Pitney Bowes reported Q1 EPS of 42 cents with revs of $1.2 billion, with EPS missing consensus views by 2 cents and revs coming in-line to the Street.

Earlier, Pitney Bowes announced it tapped Abby F. Kohnstamm as its new marketing chief. Kohnstamm served as "Chief Marketing Officer of IBM Corporation (NYSE: IBM) for over 12 years," according to the release. Some traders are hoping the veteran will add some life to a stock that has had trouble breaking out of its channel.

Shares are up 4 percent on the session.

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