"We have been methodically and strategically finding new ways to satiate the appetite for our content on new platforms, while tapping into the tremendous revenue provided by doing so," said Leslie Moonves, president and CEO, of CBS.
UBS raised its price target on the content provider to $54 from $45, citing CBS' ability to buy back one-third of its shares over the next few years, due to outdoor transactions and the company's free cash flow.
Closing prices: AAPL ended Thursday up $4.15, or 1%, to $432.50; AMZN fell $9.36, or 3.4%, to $265.74 and CBS rose $1.01, or 2.2%, to $46.95.
--Written by Chris Ciaccia in New York>Contact by Email. Follow @Commodity_Bull
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV