Transocean notes gain as purchase offer starts; United eyed as earnings anticipated

By James McCandless

San Antonio, Oct. 14 – During the Wednesday distressed session, attention shifted to the energy and travel spaces.

Transocean Ltd.’s notes were seen gaining after the company started a purchase offer for five series of tranches.

While oil futures spent the day rising, Occidental Petroleum Corp.’s and Antero Resources Corp.’s issues varied in direction while Gulfport Energy Corp.’s paper dipped.

Meanwhile, in travel, United Airlines Holdings, Inc.’s notes diverged in anticipation of the company’s Q3 earnings report.

Sector peer American Airlines Group, Inc.’s issues were under water.

Movie theater name AMC Entertainment Holdings, Inc.’s paper weakened a day after reporting a capital problem.

Operator Cinemark Holdings, Inc.’s notes also went negative.

Elsewhere, in the pharma space, Mallinckrodt plc’s issues had mixed results in the wake of the company’s bankruptcy filing.

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