California Resources, Valaris fall post-earnings; Chemours off in chemical space

By James McCandless

San Antonio, Aug. 2 – The distressed market ended the week with an extension of Thursday’s negativity as more earnings are released.

California Resources Corp.’s notes dropped after the company released its second-quarter earnings report.

Sector peer Valaris plc’s issues were also negative in the wake of its own results.

Despite a jump for oil futures, Whiting Petroleum Corp.’s and Range Resources Corp.’s notes were losing on Friday.

Meanwhile, in chemicals, Chemours Co.’s notes were also trailing after it issued its own earnings report.

Farm machinery maker Titan International, Inc.’s issues continued to drop in reaction to poor earnings.

In telecom, Intelsat SA and Frontier Communications Corp.’s paper diverged.

Drug maker Teva Pharmaceutical Industries Ltd.’s notes declined.

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