U.S. Markets open in 5 hrs 55 mins

CBS: in the process of selecting outside counsel to conduct an investigation

Recapping the big news after the bell, CBS announced today that its Board of Directors is in the process of selecting outside counsel to conduct an independent investigation. No other action was taken on this matter at today’s board meeting - meaning Moonves stays in place, for now. Yahoo Finance's Jen Rogers and Jared Blikre report.