NEW YORK (TheStreet) --Apple  (AAPL) - Get Report has reached an agreement with CBS (CBS) to make Apple Music the exclusive home for a new "Carpool Karaoke" series, produced by CBS Television, CNBC breaking news anchor Sue Herera reported on today's "Closing Bell."

The agreement accounts for "16 episodes, with a new episode being released each week to Apple Music subscribers in 100 countries," Herera noted.

A host, premier date, and price tag for the agreement has yet to be announced.

Shares of Apple are lower by 0.69% to $96.67 in after-hours trading on Tuesday.

(Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL? Learn more now.)

Separately, TheStreet Ratings rates Apple as a "Buy" with a ratings score of "B." This is driven by some important positives, which TheStreet Ratings believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks TheStreet Ratings covers.

The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity and expanding profit margins. TheStreet Ratings feels its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: AAPL

Image placeholder title