CBS Gains on Forecast for Licensing Fees, Share Repurchase Plan
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CBS Corp., owner of the most-watched U.S. television network, rose the most in almost a month after forecasting growth in licensing fees and an increase in its share buybacks.
CBS, based in New York, gained 3.8 percent to $44.59 at 9:49 a.m., the biggest intraday gain since Jan. 17. The stock had risen 13 percent through yesterday, outpacing the Standard & Poor’s 500 Index’s 6.7 percent climb.