PetSmart better on Chewy IPO; Frontier lower amid restructure talk

By James McCandless

San Antonio, June 14 – The distressed space ended Friday with its attentions fixed on news-driven names.

PetSmart, Inc.’s notes ended better after the launch of its initial public offering for e-commerce name Chewy.com.

Sector peer L Brands, Inc.’s issues were in decline.

Meanwhile, telecom name Frontier Communications Corp.’s paper was lower as the market chatters about a potential restructure.

Satellite name Intelsat SA’s notes were mixed.

Drugmaker Teva Pharmaceutical Industries Ltd.’s issues also finished mixed, capping off another week of scrutiny over its potential legal exposure.

Mallinckrodt plc’s paper ended the day mixed.

Oil futures trended upward as Halcon Resources Corp.’s notes followed suit, California Resources Corp.’s issues were mixed and Ensco Rowan plc’s paper fell.

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