J.C. Penney notes crater after releasing Q2 earnings report; Diebold issues drop

By James McCandless

San Antonio, Aug. 16 – Trading in the distressed debt market on Thursday turned to J.C. Penney and others with recent earnings reports.

J.C. Penney Co., Inc. notes cratered after the company released a dismal earnings report, falling short of analyst estimates.

Diebold Nixdorf, Inc. issues saw a multi-point drop as one of its largest lenders tries to secure a loan to keep the company afloat.

Sanchez Energy Corp. paper was active but level. The company’s recent Q2 report showed a weakened position in the energy sector.

Frontier Communications Corp. notes ended mixed again. The company recently released a troubling earnings report.

Rite Aid Corp. issues declined. The company recently nixed a potential merger with grocery chain Albertsons.

Mallinckrodt plc paper improved in the medical space.

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