Mallinckrodt notes fall on short seller tweets; Alta Mesa down on third-quarter report

By James McCandless

San Antonio, Nov. 26 – A new week in the distressed market turned attention toward the pharmaceutical, health care and telecom sectors. Energy names continued to be in focus.

Mallinckrodt plc’s notes declined after a short seller made claims about the effectiveness of one of its popular drugs.

Elsewhere in the medical space, Community Health Systems, Inc.’s issues rose.

Meanwhile, in energy, Alta Mesa Holdings, LP’s paper continued a precipitous drop after the company reported its third-quarter earnings.

Offshore aviation names Bristow Group Inc.’s and PHI, Inc.’s notes traded up after competitor Waypoint Leasing Holdings Ltd. filed for bankruptcy.

Sable Permian Resources LLC’s issues continued to slide.

Sanchez Energy Corp.’s paper rose with oil futures.

The day also saw a drop for Altice Europe NV while Intelsat SA’s and Frontier Communications Corp.’s notes improved.

Genworth Financial Inc.’s issues saw a negative trend amid doubts of regulatory approval for a Chinese takeover.

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