RadioShack reports wider loss; Gymboree numbers boost bonds after-market; Quiksilver falls

By Stephanie N. Rotondo

Phoenix, Dec. 11 – A round of earnings in the retail space was helping to move around some of those names currently trading in the distressed realm on Thursday.

RadioShack Corp. came out with numbers early in the day, posting its 11th consecutive quarterly loss. Gymboree Corp. and Quiksilver Inc. then released earnings after the bell.

Gymboree reported a wider loss year over year, but there were some data points that investors seemed pleased with, such as an increase in same-store sales. Those bonds were being quoted up in after-market dealings, according to a trader.

Quiksilver was meantime weaker ahead of its quarterly report. But as the figures “looked a little bit weak,” it was expected the notes might be even softer come Friday.

Away from retail, the coal space was seen losing ground, even as oil prices continued to decline. A report from JPMorgan indicated that rising oil prices could be good for that space, which has been laboring under oversupply, lowered demand and depressed prices.

As for oil, West Texas Intermediate crude fell $1.38, or 2.26%, to $59.56 per barrel – the first time the commodity has traded below $60 since 2009. Brent crude declined 74 cents, or 1.15%, to $63.50.

Oil prices were said to be dragged down yet again as investors grew concerned about Saudi Arabia’s hesitance to cut production, even as OPEC cut demand for 2015.

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