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Viacom (VIAB) Catches Eye: Stock Jumps 7.6%

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Viacom Inc. (VIAB - Free Report) was a big mover last session, as the company saw its shares rise nearly 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $25.34 –$29.87 in the past one-month time frame, witnessed a sharp increase yesterday.

Perhaps, the stock has gained on rumors of possible re-merger with media company CBS.

The company has seen a mixed track record when it comes to estimate revision of no increase and one decrease over the past few weeks, while the Zacks Consensus Estimate for the current quarter has remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Viacom currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.

Viacom Inc. Price

Investors interested in the Consumer Discretionary sector may consider Cumulus Media, Inc. (CMLS - Free Report) , which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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