Viacom (VIAB) dips on realignment

Viacom, Inc.

slipped 2% to $67.25 after the company issued details of strategic realignment. The company projected a pretax charge of $785 million in the second quarter and announced its plans to reduce headcount. The company also said it will temporarily halt its stock buyback program. Share volume was 1.8 million, compared to an all-day average of 3.6 million