Frontier mixed after releasing Q3 earnings; Noble Energy higher on proposition win

By James McCandless

San Antonio, Nov. 7 – Trading in the distressed space saw another day of activity centered on names putting out earnings on Wednesday.

Frontier Communications Corp.’s notes were mixed after the company released its earnings late Tuesday.

European peer Intelsat SA’s issues moved higher.

In the energy space, Noble Energy, Inc.’s paper traded up after a Colorado proposition that would increase setback distances for oil and gas well drilling was voted down.

Elsewhere, Parker Drilling Co.’s notes have been falling since the company posted a loss in its third quarter earnings Monday.

Sector peers Sanchez Energy Corp., California Resources Corp. and EP Energy Corp.’s issues saw significant gains despite another decline in oil prices.

Luxury retailer Neiman Marcus Group, Inc.’s paper improved. PetSmart, Inc.’s notes also rose.

Dean Foods Co.’s issues dipped after missing earnings estimates for the third quarter.

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