By Jill Goldsmith Showbiz shares surged in a major market rally that saw the DJIA close up by nearly 1,000 points Monday. ViacomCBS ended the session 11% higher as a wall Street analyst upgraded the stock to ‘buy’ and the company’s chairman Shari Redstone and CEO Bob Bakish told annual meeting attendees that they consider the stock undervalued and are committed to changing that.
Walt Disney gained 7.4%. A number of high profile investors — from Daniel Loeb of Third Point Capital to Saudi Arabia’s sovereign wealth fund — have added positions in the company to their portfolios.
The stock purchases were revealed Friday in SEC filings for the first quarter. Amid sings that the economy opening a bit, the company will opening Disney Springs,
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