Frontier lower, CBL gains after earnings report; McDermott slips in energy space

By James McCandless

San Antonio, May 1 – First-quarter earnings reports dominated trading in the distressed space on Wednesday.

Frontier Communications Corp.’s notes were lower after the company issued a disappointing earnings report late Tuesday.

Sector peer Intelsat SA’s issues were mixed a day after releasing its earnings numbers.

Meanwhile, real estate investment trust CBL & Associates Properties, Inc.’s paper saw a gain after putting out its quarterly report.

Elsewhere, in energy, McDermott International, Inc.’s notes slid lower on the back of its lagging earnings.

Weatherford International plc’s issues were negative after the company proposed a reverse stock split.

Lower oil futures saw California Resources Corp.’s and Ensco Rowan plc’s paper follow suit.

In connected commerce Diebold Nixdorf, Inc.’s notes extended a negative run after showing dismal earnings.

Shipping name Navios Maritime Holdings Inc.’s issues continued to gain.

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