Murray Energy notes fall as Q1 report issued; American Tire issues rise after long decline

By James McCandless

San Antonio, May 15 – The distressed debt market saw activity slowly pick up throughout the day on Tuesday as earnings season nears the end.

Murray Energy Corp. notes traded down after the company posted its Q1 report, disappointing investors.

American Tire Distributors issues rose in a brief respite after weeks of declines over losing its business relationship with Goodyear.

Ultra Petroleum Corp. paper traded up, stemming a downward trend set off after the company released its Q1 report last Thursday.

Intelsat SA notes were mixed. The company posted a disappointing Q1 report recently. Frontier Communications Corp. issues were mixed on the day. It was another telecom name that posted a worrying Q1 report recently. Mallinckrodt plc paper rose.

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