Halcon Resources tanks amid rumors of bankruptcy filing; Weatherford, Mallinckrodt drop

By Abigail W. Adams

Portland, Me., May 10 – The tape was again soft on Friday with earnings related news driving several distressed names lower.

Halcon Resources Corp. was in focus with the notes dropping almost 20 points amid speculation the company was again heading for a Chapter 11 bankruptcy filing.

After a rebound during the previous session, Weatherford International plc’s junk bonds were again trading down during Friday’s session.

The company announced its intention to file for bankruptcy after the market close.

Mallinckrodt plc’s 5½% senior notes due 2025 saw a large decline on Friday with holders of the notes looking to leave the name.

While the tape was largely soft with most names losing ground, Dean Foods Co.’s 6½% notes due 2023 continued to gain in active trading.

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