CBS Corp said it will divest its 81 percent stake in its outdoor advertising subsidiary, CBS Outdoor Americas Inc, over three days from July 7. The company said its shareholders will be able to exchange all or some of their Class B common stock for shares of CBS Outdoor at a 7 percent discount.CBS Outdoor, whose customers include Apple Inc, McDonald's Corp and Sony Corp, went public in late March.It has about 329,100 displays in the United States and about 26,100 displays across Canada and Latin America.CBS, which owns about 97 million shares of CBS Outdoor, had won a favorable ruling in April from the Internal Revenue Service to convert CBS Outdoor into a real-estate investment trust (REIT).
Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL traded higher by 0.05% or $0.049/share to $94.30. In the past year, the shares have traded as low as $55.55 and as high as $95.05. On average, 70677400 shares of AAPL exchange hands on a given day and today's volume is recorded at 3851637.
McDonald?s Corporation franchises and operates McDonald?s restaurants in the global restaurant industry. Shares of MCD fell by 0.16% or $-0.16/share to $100.72. In the past year, the shares have traded as low as $92.22 and as high as $103.78. On average, 4995590 shares of MCD exchange hands on a given day and today's volume is recorded at 280084.
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