Media company Viacom's stock rose after the CEO requested a medical exam of its controlling shareholder. Chief Executive Philippe Dauman asked a court for an immediate medical exam of 93-year-old Sumner Redstone, Reuters reported. Redstone has been trying to oust Dauman, who is vying to sell a minority stake in Paramount Pictures, a move Redstone opposes. Earlier this year, Redstone was the subject of a lawsuit with his ex-girlfriend over his mental capacity.
Discount store Dollar Tree's shares rose, continuing the day's gains after the Supreme Court ruled on a case involving rival Dollar General. The court allowed a child sexual molestation lawsuit against Dollar General to move forward in a Native American tribal court in Mississippi, Reuters reported. The justices were split 4-4, leaving intact a lower court decision on the civil suit accusing a male manager of a Dollar General store of molesting a 13-year-old boy, according to Reuters.
Xerox's stock popped after the enterprise technology company named a new CEO. Industry veteran Jeff Jacobson will succeed Ursula Burns as chief executive of Xerox after the company spins off its business services branch into a separate publicly traded company called Conduent. That's expected to happen by the end of the year, the company said.
"Jeff is clearly the right leader for Xerox's document technology company," Ann Reese, Xerox's lead independent director, said in a statement. "Jeff has shown he is well-equipped to execute on the work we are doing now and to leverage future opportunities for the benefit of our shareholders, clients, partners and employees."