Western Digital up despite earnings miss; Halcon Resources lower after ratings downgrade

By James McCandless

San Antonio, Jan. 25 – Issuers that traded actively in the holiday-shortened week ended mostly higher on Friday as the distressed market gears up for earnings season.

Western Digital Corp.’s notes were on the rise despite reporting an earnings and revenues miss in their quarterly results after the market close on Thursday.

Elsewhere, Halcon Resources Corp.’s issues were lower following a late Thursday ratings downgrade.

In other oil trading, rising oil futures served as a background for gains for Weatherford International plc’s paper while Denbury Resources Inc.’s and YPF SA’s notes ended mixed.

Meanwhile, in telecom, Altice SA’s issues were better as its American subsidiary sells new 10-year notes.

Sector peer Intelsat SA’s paper was also positive.

Electric utility PG&E Corp.’s notes were mixed as the company draws nearer to filing for bankruptcy.

FirstEnergy Solutions Corp., a subsidiary of FirstEnergy Corp., saw their issues gaining.

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