Air Methods higher as earnings trickle out; PG&E higher as new director named

By James McCandless

San Antonio, April 23 – Oil and oil services names were much of the focus of the distressed space on Tuesday.

Air Methods Corp.’s notes were gaining as the private company appeared to please stakeholders with its earnings report.

Sector peer Bristow Group Inc.’s issues were also higher despite expectations that it will file for bankruptcy next month.

Meanwhile, despite oil futures continuing to rise, California Resources Corp.’s paper was lower and Ensco Rowan plc’s notes were mixed while Alta Mesa Resources, Inc.’s issues were rising.

Elsewhere, PG&E Corp.’s paper was higher after striking a deal with a major shareholder to appoint a new board member.

In health care, Teva Pharmaceutical Industries Ltd.’s notes pushed up as it stopped research on a cluster headache drug.

Shipping name Navios Maritime Holdings Inc.’s issues moved higher during the day.

Real estate investment trust CBL & Associates Properties, Inc.’s paper was on the negative side of activity.

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