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Viacom raised $1.3 billion in a bond offering that demonstrated investor hopes for a merger with CBS that might sustain Sumner Redstone's $40 billion media empire.
Stock losses accelerate on Thursday as Deutsche Bank and Wells Fargo drag on the financials sector.
CBS will likely get the better of Viacom if the two are combined, says Jim Cramer.
Stocks fluctuate on Thursday as equities and oil stabilizes after a late-session rally a day earlier.