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U.S. stocks rocketed higher, shaking off earlier choppiness, on reports OPEC had reached an agreement.
The companies will be asked to merge by Sumner Redstone's National Amusements, the controlling shareholder of both companies, Reuters reported. Shares in both stocks rose on the report.
Nomura Securities Analyst Anthony DiClemente told CNBC Wednesday that a potential merger between Viacom and CBS must add value for CBS shareholders.