CBS Corp. (CBS: Quote) announced after the close Wednesday that it has begun the process of converting its Outdoor Americas division into a real estate investment trust. The Company will pursue a divestiture of its Outdoor operations in Europe and Asia.
CBS has gapped open sharply higher Thursday and is now up 3.77 at $41.71 on above average volume. The stock has risen above over a 2-week range and has set a new high for the year.
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by RTT Staff Writer
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