| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Ares Capital Corp. > News item |
Morning Commentary: Ares Capital, American Realty Capital trading better; Peabody Energy quiet
By Rebecca Melvin
New York, Oct. 20 – While corporate earnings reports are expected to be a driver of U.S. convertibles this week, they weren’t a market feature so far on Monday, market players said Monday morning.
Instead, a pair of Ares Capital Corp. convertibles were in trade and trending better, as was American Realty Capital Properties Inc.’s 3.75% convertibles due 2020, which changed hands at 98.875 and looked better, a New York-based trader said.
American Realty Capital shares were fractionally higher. The New York-based real estate investment company made some asset sales solidifying its credit and promoting a re-focus on its core business, the trader said.
Ares Capital’s 5.125% convertibles due 2020 traded at 103.25, which was up 0.5 point, according to Trace data. Shares of the New York-based business development company were fractionally higher.
Ares Capital’s 5.75% convertible due 2016 were also seen better in trade.
Meanwhile, Peabody Energy Corp.’s 4.75% convertibles due 2066 were quiet after the St. Louis-based coal mining company reported a wider third-quarter loss on lower revenue that beat estimates. The company also guided full-year earnings per share lower.
Excluding one-time items, Peabody lost $154 million, or 59 cents per share, on revenue that fell to $1.72 billion from $1.80 billion in the year-earlier quarter.
Analysts were expecting a loss of 62 cents per share on revenue of $1.64 billion.
The Peabody convertibles were last at 66 on Friday after sinking to a low of 62 on Wednesday.
Illumina Inc. is slated to report earnings after the market close.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.