Diamond Offshore dives after earnings miss; Chemours down in chemicals space

By James McCandless

San Antonio, Aug. 5 – The distressed debt market, following the lead of other markets, was pushed lower on Monday on global trade concerns.

Diamond Offshore Drilling, Inc.’s notes took a dive after posting an earnings loss for the second-quarter.

Sector peer Halcon Resources Corp.’s issues improved after the company came to a restructuring agreement with unsecured creditors.

As oil futures drop, California Resources Corp. and Chesapeake Energy Corp.’s paper followed suit.

Chemicals maker Chemours Co.’s notes continued to fall in the wake of its own negative earnings report.

In the pharma space, Teva Pharmaceutical Industries Ltd.’s and Mallinckrodt plc’s issues saw varying movements.

Agriculture machine name Titan International, Inc.’s paper slid in a continuation of market scrutiny.

Steel name United States Steel Corp.’s notes saw declines as trade tensions escalate.

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