Rite Aid notes crater after merger called off; Ultra Petroleum drops on earnings release

By James McCandless

San Antonio, Aug. 9 – Traders described Thursday in the distressed debt market as crowded amid multiple earnings statements.

Rite Aid Corp. notes cratered after the cancellation of a merger with grocery chain Albertsons, prompting several ratings changes.

Ultra Petroleum Corp. issues declined after the Thursday morning release of its Q2 earnings report, missing earnings and revenue estimates.

Commonwealth of Puerto Rico paper improved after Wednesday’s news that the government reached an agreement with sales tax bondholders.

Frontier Communications Corp. notes were mixed. The company released a disappointing earnings report last week.

Sanchez Energy Corp. issues saw another multi-point decline. A recent Q2 earnings report did not meet analyst estimates.

Diebold Nixdorf, Inc. paper saw another multi-point decline as the market continues to react to a disappointing earnings report.

© 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.