Post earnings, California Resources up; GenOn ‘not as active,’ but up; Revlon, Neiman down

By Colin Hanner

Chicago, May 5 – With crude oil getting a reprieve in the futures market on Friday, distressed exploration and production companies were mixed, market sources said, with losses not nearly as inflated as previous sessions.

Elsewhere, first quarter earnings continued to shape movement in the market.

Among those, California Resources Corp. was up “on a nice rebound in oil,” a trader said, though another trader said positive quarterly earnings were behind the movement.

MEG Energy Corp. was unchanged, and Noble International Holdings Inc. was down fractionally.

GenOn Energy, Inc. took a backseat to Thursday’s activity following a proposed offering announcement though it traded higher in the three issues.

In the retail space, Revlon, Inc. was down several points following its earnings, and Neiman Marcus Group, Inc. was down following a story from New York Post that described a breakdown of a merger between the upscale retailer and Hudson Bay Co.

A day following the passage of the American Health Care Act through the House, Community Health Systems, Inc. was higher, nearing the levels it reached before the bill passed in the House.

Valeant Pharmaceuticals International, Inc. was mixed on the session.

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