Sears notes tumble after abysmal Q1 report released; PetSmart issues gain, stemming fall

By James McCandless

San Antonio, May 31 – Traders reported another light day in the distressed debt market on Thursday in the tail end of a short week.

Sears Holdings Corp. notes tumbled after the company released its Q1 report and announced the closure of 72 stores.

PetSmart, Inc. issues gained after days of decline and a week after the company announced the appointment of a new CEO.

Bristow Group Inc. paper declined again, extending a downward trend started after the company released a subpar Q1 report last week.

Intelsat SA notes traded up. Recently, the company released a disappointing Q1 report. Frontier Communications Corp. issues were mixed. The company is working to regain investor confidence after a recent failed auction. Mallinckrodt plc paper declined.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.