Sears notes mixed before long-delayed earnings released; Intelsat issues continue mixed

By James McCandless

San Antonio, Sept. 13 – Trading in the distressed debt market on Wednesday continued to shine a spotlight on news-driven names.

Sears Holdings Corp.’s notes traded mixed as the company again delayed the release of its second-quarter report until after the market close Thursday.

The company reported a Q2 loss of $4.68 per share, widening from a loss of $2.33 per share in the second quarter of 2017.

Intelsat SA’s issues were mixed another day as a subsidiary works through a cash tender offer that began Monday.

Community Choice Financial Inc.’s paper fell again. On Friday, the company received $45 million in new financing.

Frontier Communications Corp.’s notes rose for a second day. A recent second-quarter report disappointed analysts and triggered a ratings downgrade.

Sanchez Energy Corp.’s declined, tracking oil futures.

In the medical space, Mallinckrodt plc’s paper gained.

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