McDermott notes continue fall after cost overrun report; Univision issues leak

By James McCandless

San Antonio, Feb. 14 – The Thursday session in the distressed space saw mixed results amid continuing earnings reports.

McDermott International, Inc.’s notes continued to drop after the company announced it would incur a large accounting charge after one of its projects experienced cost overruns.

Meanwhile, Hornbeck Offshore Services, Inc.’s issues rose after beating expectations in its Q4 earnings report.

Despite another day for rising oil futures, California Resources Corp.’s and YPF SA’s paper went lower while Ensco plc’s notes closed mixed.

In the communications space, Univision Communications Inc. issues sunk after a disappointing Q4 report.

Elsewhere in the sector, mixed Q4 results led to CenturyLink, Inc.’s paper also trading mixed.

In pharmaceuticals, Teva Pharmaceutical Industries Ltd.’s notes fell as a ratings agency affirmed a negative outlook.

Diebold Nixdorf, Inc.’s issues moved higher on the back of its surprisingly positive earnings report.

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