Acosta drops as earnings results spread; DISH lower as company opens patent lawsuit

By James McCandless

San Antonio, Jan. 30 – The distressed space began to shift its focus on Wednesday as earnings season actively begins to get underway.

Acosta Sales & Marketing Co.’s notes dropped sharply after news spread through the market of the company’s disappointing quarterly report.

Meanwhile, DISH Network Corp.’s issues went negative as the company opens a lawsuit against Univision Communications Inc. for patent infringement.

Mining name Samarco Mineracao SA’s paper started a recovery following significant crashes due to negative headlines regarding recent dam ruptures.

Sector peer Cloud Peak Energy Inc.’s notes were in decline as the company updates stakeholders on a strategic alternative review.

Elsewhere, PG&E Corp.’s issues were mixed in the backdrop of its first day post-bankruptcy filing.

Despite more gains for oil futures, Denbury Resources Inc.’s and Ensco plc’s paper was mixed while Sanchez Energy Corp.’s notes fell.

Retailer Neiman Marcus Group Inc.’s issues continued to rise as the market anticipates developments in its recent creditor dispute.

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