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Why Chemours Co (CC), Petroleo Brasileiro SA Petrobras (ADR) (PBR) and Polycom Inc (PLCM) Are 3 of Today’s Best Stocks

Stocks surged Friday on the back of an impressive June jobs report. Before the open of U.S. markets, the Labor Department said employers added 287,000 new jobs last month. That is good for the largest monthly increase since October.

Why Chemours Co (CC), Petroleo Brasileiro SA Petrobras (ADR) (PBR) and Polycom Inc (PLCM) Are 3 of Today's Best StocksThe unemployment rate increased to 4.9% from 4.7%. The data helped the S&P 500 climb 1.53% while the Dow Jones Industrial Average gained 1.4% and the Nasdaq Composite jumped 1.64%.

On a strong day for stocks, Chemours Co (NYSE:CC), Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) and Polycom Inc (NASDAQ:PLCM) were among Friday’s top performers.

Chemours Co (CC)

The Chemours Company, a former unit of E I Du Pont De Nemours And Co (NYSE:DD), surged 17% after a judge said DD has to pay a man an additional $500,000 after the Delaware-based company was found liable for the man’s case of testicular cancer.

CC said the ruling will be challenged and that it believes there is precedent with which to appeal the ruling. CC warned the litigation could be ongoing. DD also said it plans to appeal the ruling.

Shares of DD, a member of the Dow Jones Industrial Average, gained 2.9%.

Petroleo Brasileiro SA Petrobras (ADR) (PBR)

Petroleo Brasileiro SA, Brazil’s state-controlled oil company, rose nearly 5% Friday as oil prices finished modestly higher. More specific to PBR, the company raised $3 billion in a corporate debt issue this week, but demand was $9 billion.

“The company raised $1.75 billion with the reopening of its bonds due in May 2021, paying an annual yield of 7.75%; and $1.25 billion, with its bonds due in May 2026, carrying an annual yield of 8.75%. The original bond transactions took place in May, when the company raised $5 billion, from its bond issue due in May 2021, then paying an annual yield of 8.625%. The second tranche, due in May 2026, totaling $1.75 billion, carried a yield of 9%. … The bond issue by Petrobras attracted a total demand worth $9 billion from investors, according to a banker close to the operation,” according to the Wall Street Journal.

PBR is using the bond issue to fund a buyback program of other outstanding notes. Brazilian stocks, including PBR, were also boosted by lower-than-expected inflation data in Latin America’s largest economy last month.

Polycom Inc (PLCM)

Shares of Polycom Inc surged 12.7% on more than 80 times the usual volume after the company agreed to be acquired by Siris Capital Group.

Private equity firm Siris Capital is offering $2 billion, or $12.50 per share for PLCM.

“Siris added that it wants to use Polycom’s audio and video collaboration to move into a cloud-based environment,” reports CNBC.

At the time of this writing, Todd Shriber did not own any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/07/chemours-company-cc-petroleo-brasileiro-sa-pbr-polycom-inc-plcm-3-todays-best-stocks/.

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