American Tire notes improve amid layoffs; Mattel improves, earnings released after close

By James McCandless

San Antonio, July 24 – Trading in the distressed debt market remained fixed around newsworthy names on Wednesday as the market enters earnings season.

American Tire Distributors notes gained as the company announced a round of layoffs as part of its long-term growth strategy.

Mattel, Inc. notes traded up while the company released a disappointing earnings report and announced job cuts after the market close.

Windstream Holdings, Inc. notes were mixed as the company’s debt-default trial continued in court.

Intelsat SA notes were mixed. The Federal Communications Commission recently moved forward on a potential rule change that could bring new sources of revenue to satellite firms.

Frontier Communications Corp. issues were mixed. CFO Perley McBride recently announced his resignation.

Mallinckrodt plc paper improved in the medical space.

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