Frontier, Community Health, Tesla fall on numbers; oil and gas names surge; Toys falls

By Paul Deckelman

New York, Nov. 1 – The new month of November began on Monday with traders and investors in distressed debt and debt of other underperforming companies carefully watching the parade of companies reporting quarterly earnings.

The news on the earnings front was bad at such varied companies as telecom provider Frontier Communications Corp., hospital operator Community Health Systems Inc. and electric car manufacturer Tesla Inc., all of whom reported disappointing quarterly numbers and saw their respective bonds fall.

On the upside, energy credits such as California Resources Corp. and Denbury Resources Inc. firmed smartly – even though world crude oil prices finished on the downside Wednesday after recently surging.

In the struggling retail sector, J.C. Penney & Co, Inc.’s recently beleaguered bonds saw something of a rebound on Wednesday.

But there was no such relief in sight for bankrupt Toys ‘R’ Us Inc.’s hard-pressed paper.

© 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.