Alta Mesa lower on SEC investigation; U.S. Steel negative after trade news

By James McCandless

San Antonio, May 20 – The distressed space spent Monday remaining settled on names that generated headlines last week.

Alta Mesa Resources, Inc.’s notes were headed lower after the company reported that it is under investigation by the S.E.C. for financial reporting issues.

Elsewhere in oil and gas, California Resources Corp.’s and Ensco Rowan plc’s issues mirrored oil futures’ mixed results as Weatherford International plc’s paper declined.

Meanwhile, United States Steel Corp.’s notes were negative after last week’s positive push as the United States and Canada agreed to end steel tariffs.

In the health space, Teva Pharmaceutical Industries Ltd.’s issues were under pressure a week after being named in an antitrust lawsuit.

Sector peer Endo International plc’s paper was also trailing.

Coming off of a ratings downgrade, Dean Foods Co.’s notes saw a slight improvement.

Retailer PetSmart, Inc.’s issues saw a negative session.

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