Late Market Roundup (CBS, VIA, CMCSA, XOI, DTG, CAR, HTZ, RBS, LYG)

The Executive Chairman of CBS Corp CBS, Sumner Redstone, spelt in an annual meeting that he had no interest in selling his network or Viacom VIA. Over the past few months, speculations had been rife about the acquisition of CBS, following the purchase of NBC by Comcast Corp CMCSA. Sumner Redstone in the meeting emphasized, "I will never, N-E-V-E-R, sell Viacom or CBS.” According to the Commerce Department, the sales of new homes jumped 14.8% to an annual rate of 504,000 in April. The sales have reached the highest level since May 2008. The buyers are rushing to meet the deadlines for qualifying for tax credits. The energy stocks are surging after unrelenting losses in the recent sessions. The stocks were suffering even though the increase in the crude oil supplies was better than expected. The NYSE Arca Oil Index XOI rose 0.4% to 944, after hitting 10-month lows in the previous session. Car rental company, Dollar Thrifty Group DTG, said it decided against contacting rival Avis Budget Group CAR before entering into a contract to sell itself to Hertz Global Holdings Inc HTZ. Among the several reasons for DTG’s decision was the concern regarding Avis’ ability to close the deal. Analysts at Credit Suisse upgraded Royal Bank of Scotland RBS and Lloyds Banking Group LYG from “neutral” to “outperform,” after a 25% fall in their valuations over the past four weeks. According to the analysts, "In the long-term, our structural concerns are as strong as ever. But we think the UK banks are investable and at current levels offer value." Read more from Benzinga's Markets.