Weatherford mixed on asset sale, delisting warning; Community Health lower on ACA judgment

By James McCandless

San Antonio, Dec. 17 – At the start of the new week in the distressed space, energy and healthcare names saw the most movement.

Weatherford International plc’s notes were mixed after the company announced that it had sold its surface data logging arm and received a warning of delisting from the New York Stock Exchange.

Elsewhere in energy, Aegean Marine Petroleum Network Inc.’s issues were rising on Saturday’s news that the company filed a reorganization plan.

Lower oil futures led to declines in California Resources Corp.’s and EP Energy Corp.’s paper while Diamond Offshore Drilling, Inc.’s notes improved.

Meanwhile, Community Health Systems, Inc.’s and Tenet Healthcare Corp.’s issues fell after a federal judge in Texas declared the Affordable Care Act unconstitutional.

Natural gas name Ferrellgas Partners LP’s paper declined on a ratings downgrade.

Xerox Corp.’s notes were also negative after ratings downgrades.

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