U.S. Steel rises despite trade climate; Navios gains after asset manager buys stake

By James McCandless

San Antonio, May 16 – Names affected by an uncertain trade climate came into focus in Thursday’s distressed debt session.

United States Steel Corp.’s notes were on the rise despite uncertainty in the global trading climate.

In shipping, Navios Maritime Holdings Inc.’s issues were gaining after an asset manager purchased a stake in the name.

Meanwhile, in utilities, PG&E Corp.’s paper moved lower after California officials placed the blame for a 2018 wildfire on the name.

Drugmaker Teva Pharmaceutical Industries Ltd.’s notes closed mixed in a week of legal turmoil.

Sector peer Endo International plc’s issues were pushed upward.

Elsewhere, in energy, Halcon Resources’and Ensco Rowan plc’s paper improved with oil futures as Superior Energy Services, Inc.’s notes dropped.

Tire maker Titan International, Inc.’s issues were pushed down.

© 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.