Why Citigroup Inc (C), Netflix, Inc. (NFLX) and Petroleo Brasileiro SA Petrobras (ADR) (PBR) Are 3 of Today’s Best Stocks

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Stocks performed better in February than they did in January, prompting some market participants to speculate (or at least hope) that trend will continue in March. Equities started the third month of the year in bullish fashion as the S&P 500 jumped more than 2% after strong economic data sent investors searching for riskier assets.

stock market todayThe Dow Jones Industrial Average and the Nasdaq Composite also rose more than 2% apiece after data revealed U.S. factory activity for the fourth quarter was not as bad as some economists expected, and amid a hop in oil prices. New orders and improved production helped paint an improved picture for American industry.

Speaking of pretty pictures, that is what Citigroup Inc (NYSE:C), Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) and Netflix, Inc. (NASDAQ:NFLX) delivered for investors today.

Citigroup Inc (C)

Citigroup rose strongly along with the rest of Wall Street’s major banking stocks amid Tuesday’s rally, though C also was clinging onto some positive headlines.

New York-based Citigroup rose 6.2% a day after the company said it will sell its remaining 20% stake in China Guangfa Bank to China Life Insurance Company Ltd. (ADR) (NYSE:LFC) for $3 billion. The deal is expected to close in the second half of this year.

Also on Monday, Citi said it will acquire American Express Company’s (NYSE:AXP) credit card portfolio associated with Costco Wholesale Corporation (NASDAQ:COST). American Express Costco accounts will be transferred to Citi.

Shares of C rose Tuesday even after Atlantic Equities downgraded the stock to neutral from overweight.

Petroleo Brasileiro SA Petrobras (PBR)

Shares of Petroleo Brasileiro, also known as Petrobras, surged 5.3% after the company procured a loan of up to $10 billion from China Development Bank. Petrobras, Brazil’s state-run oil company has the option of repaying the loan in cash or oil.

PBR will also reportedly take advantage of low oil prices to perform needed maintenance on platforms and other equipment during the first half of this year. Shares of PBR are off nearly 41% over the past year.

Netflix, Inc. (NFLX)

Although news directly pertaining to the name was light today, shares of Netflix climbed 5.2% as Internet stocks roared back and consumer discretionary was one of the day’s best-performing sectors.

NFLX is higher by 4.3% over the past month, but recent options activity in the name has been slightly bearish. However, the average 12-month analyst price target on NFLX is $130, implying significant upside from current levels.

As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities.

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Todd Shriber has been an InvestorPlace contributor since 2014.


Article printed from InvestorPlace Media, https://investorplace.com/2016/03/why-citigroup-inc-c-petroleo-brasileiro-sa-petrobras-pbr-and-netflix-inc-nflx-are-3-of-todays-best-stocks/.

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