Rite Aid mixed as company decides on stock split; Intelsat lower on satellite problems

By James McCandless

San Antonio, April 10 – Trading in the Wednesday distressed session saw more activity in retail and energy names.

Rite Aid Corp.’s notes were mixed as the company settles on a 1-for-20 ratio for a reverse stock split after the close.

Sector peer PetSmart, Inc.’s issues trended lower as the market continues to anticipate earnings.

Meanwhile, Intelsat SA’s paper ended negative as a company satellite experienced a communications issue.

Elsewhere in telecom, Frontier Communications Corp.’s notes finished mixed.

Drug maker Teva Pharmaceutical Industries Ltd.’s issues closed similarly mixed as the company enters into a new revolving credit facility.

Oil and gas name Alta Mesa Resources, Inc.’s paper continued to rise a day after the company announced a financial alternatives review.

Despite rising oil futures, distressed oil names saw mixed activity centered around Ensco plc’s, California Resources Corp.’s and Weatherford International plc’s notes.

© 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.