Endo rises despite negative earnings, sector negativity; Adient gains on quarterly report

By James McCandless

San Antonio, Aug. 6 – The distressed debt space was awash with earnings reports, lifting some and punishing others.

Endo International plc’s notes rose despite reporting negative earnings and ongoing problems in the sector.

Sector peer Mallinckrodt plc’s issues tanked after issuing its own earnings and nixing a spin off.

Teva Pharmaceutical Industries Ltd.’s paper was also under pressure.

Meanwhile, in the auto space, Adient plc’s notes spiked in reaction to the company’s positive earnings.

Tenneco Inc., another auto parts maker to release earnings on Tuesday, saw its issues trend upward.

Dairy name Dean Foods Co.’s paper crashed after posting the latest in a string of dismal earnings reports.

Oil futures fell again, spurring negative movements in California Resources Corp.’s and Chesapeake Energy Corp.’s notes while Diamond Offshore Drilling, Inc.’s issues gained.

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