Mallinckrodt gains after Q3 earnings release; Hexion mixed on earnings rumblings

By James McCandless

San Antonio, Nov. 6 – The distressed space continued to see activity concentrated on names with recent earnings results in Tuesday’s session.

Mallinckrodt plc’s notes improved after the company surpassed earnings estimates in its third-quarter report issued Tuesday.

Elsewhere in the healthcare space, Community Health Systems, Inc.’s issues were mixed.

Meanwhile, Hexion Inc.’s paper also saw mixed results as the private company issued its third-quarter report.

In energy, PHI, Inc.’s paper moved higher as the company continued to search for refinancing solutions. The company received a ratings downgrade after the close.

Sanchez Energy Corp.’s notes continued to fall elsewhere in the space.

Sector peer Denbury Resources Inc.’s issues improved. Other peers California Resources Corp. and Ensco plc’s paper saw declines.

Telecom name Frontier Communications Corp.’s notes were also mixed.

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