HearMe Inc. (Nasdaq: HEAR) made some noise about a deal with Yahoo! Monday, and investors boosted shares 24 percent. Anticipation of the company's third quarter results may have also contributed to the rise.
Shares in the provider of live voice over the Internet, formerly known as Mpath Interactive Inc. rose 2 11/16 to 14 1/8.
Mpath blasted off in its April IPO, and has been winding down ever since.
HearMe will provide voice capabilities to chat users on Yahoo! Inc., (Nasdaq: YHOO) expanding its voice offerings on the site, HearMe said on Monday. Using HearMe technology, Yahoo users will be able to speak with large groups of people using their computer microphones. They will be able to conduct conference calls or perform Karaoke online.
Yahoo users currently have been able to talk to small groups using HearMe technology on Yahoo!'s Messenger service. Other companies working with HearMe.com to bring voice chat to their sites include E! Online, Entertainment Boulevard, Bolt.com, NetNoir, The Black World Today, Teen.com, The St. Petersburg Times, and Boxing.com.
First Call's consensus estiamte of analysts is expecting a loss of 25 cents a share. HearMe will announce its results at 4:30 PM EST Monday.