NEW YORK (TheStreet) -- Chemours (CC) - Get Report stock skyrocketed by 18.27% to $4.79 in Wednesday's trading session, after the chemicals company reached an agreement with DuPont (DD) to pay now for future purchases and to amend its credit agreement.
DuPont has paid Chemours about $190 million this month for certain goods and services that Chemours will provide to DuPont throughout the next 12 to 15 months.
Chemours spun off from DuPont last year.
For the fourth quarter, Chemours reported adjusted earnings of 3 cents per share, while analysts were looking for earnings of 8 cents per share.
Revenue was $1.36 billion for the quarter, in line with analysts' estimates.