Why Chesapeake Energy, Select Comfort, and GoPro Jumped Today

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Monday brought a good start to the week for investors, and U.S. stock market benchmarks generally hit new all-time record highs as a consequence. Most market participants pointed to efforts from central banks overseas to try to spur economic growth, as the Bank of England, European Central Bank, and Bank of Japan have all taken steps to try to encourage greater levels of investment. The Federal Reserve stands as a stark holdout in that process, but the U.S. economy continues to perform better than most of its international counterparts. In addition, several positive developments for individual stocks have helped bolster confidence in the overall market. Among the best performers on the day were Chesapeake Energy (NYSE: CHK), Select Comfort (NASDAQ: SCSS), and GoPro (NASDAQ: GPRO).

Chesapeake powers up on debt restructuring

Chesapeake Energy climbed 10% after the energy giant announced a couple of moves aimed at restructuring its debt. Chesapeake said it would seek to obtain a five-year secured term loan for $1 billion, with negotiations and lender commitments still pending. At the same time, it also said it would offer to use those proceeds to make tender offers for various outstanding debt issues, including short-term senior notes due over the next seven years, and two different long-term convertible senior note issues.

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