Northern Oil and Gas up after beating earnings expectations; Community Health mixed

By James McCandless

San Antonio, May 7 – Traders reported muted activity in the distressed debt market typical of the average Monday.

Northern Oil and Gas, Inc. notes traded up after the company released its Q1 numbers, beating earnings estimates.

Community Health Systems, Inc. issues were mixed as the company announced an exchange for three series of notes.

PetSmart, Inc. paper continued to climb back from a drop caused by Amazon’s entrance into the dog food delivery market.

Intelsat SA notes were mixed a week after the company posted a disappointing Q1 report. Frontier Communications Corp. issues were mixed a week after the company surprised analysts by beating Q1 estimates. Mallinckrodt plc paper received downward pressure but remained level.

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