Ultra Petroleum notes up after Q1 numbers posted; Revlon slides again on earnings

By James McCandless

San Antonio, May 10 – Traders reported an active day in the distressed debt market on Thursday, largely driven by earnings reports.

Ultra Petroleum Corp. notes rose during the session after the company posted positive Q1 numbers, reporting a profit after the previous quarter’s loss.

Revlon, Inc. issues declined after the company reported a fall in Q1 revenue and earnings below expectations.

DISH Network Corp. paper was mixed as the market continues to react to the company’s earnings and subscriber loss in Q1.

Intelsat SA notes were up. Last Tuesday, the company posted a disappointing Q1 report. Elsewhere in telecom, Frontier Communications Corp. issues traded up. The company also posted its lackluster Q1 numbers last Tuesday. Sanchez Energy Corp. paper rose.

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