"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
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts