Hi-Crush declines after earnings miss; J.C. Penney mixed as company ceases appliance sales

By James McCandless

San Antonio, Feb. 6 – The distressed market ramped up activity Wednesday compared to Tuesday’s dearth of trading.

Hi-Crush Partners LP’s notes declined after the company reported lower-than-expected Q4 earnings.

Oil futures rose, sparking positive movement for California Resources Corp., Ensco plc and YPF SA’s issues.

Elsewhere, J.C. Penney Co., Inc.’s paper was mixed after the company announced that it would stop selling appliances.

Sector peer Revlon, Inc.’s notes were higher as Neiman Marcus Group, Inc.’s issues declined.

Meanwhile, CommScope Technologies LLC’s paper trended upward as its parent company preps a $3 billion three-tranche offering.

Telecom name Intelsat SA’s notes were mixed.

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