Wednesday, September 23, 2020

CBS RALLIES, STOCK UP 10 PERCENT

August 9, 2011 by · Leave a Comment 

CBS Corp., which was one of the companies hit hardest by the stock-market plunge on Friday and Monday, put on a show of strength in early trading today. Shares of the company rose more than 10 percent after Argus Research upgraded the rating on CBS stock to buy from hold. Media stocks in general rallied, with Viacom up 3.5 percent; News Corp, 2.7 percent, and Disney 1.2 percent. However, Cablevision, the cable provider serving primarily the New York City area, saw its shares drop 10 percent after it reported disappointing second-quarter results.