Frontier continues earnings fall, Revlon off; energy names surge, but PDVSA, Venezuela plunge

By Paul Deckelman

New York, Nov 3 – Frontier Communications Corp.’s bonds continued to slide on Friday.

They have been taking a beating from investors in the wake of disappointing numbers the telecommunications company released earlier in the week.

Another big loser was cosmetics maker Revlon Inc., which reported a quarterly loss on Friday.

Traders said that oil and gas names such as California Resources Corp. and Denbury Resources Inc. ruled the roost, fueled by a surge in world crude oil prices.

But there was frenzied trading in Venezuela’s sovereign debt and in Petroleos de Venezuela SA bonds after Venezuelan president Nicolas Maduro announced at a televised event in Caracas late Thursday that he wants to restructure the country’s international debt.

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