Toys 2018s fall from Tuesday; hospitals mostly down; Bombardier steady; SuperValu gyrates

By Paul Deckelman

New York, Oct. 18 – Traders saw a relatively quiet session in the bonds of distressed or otherwise underperforming companies on Wednesday, in line with a lower-volatility session in the larger high-yield market.

There were no multi-point jumps in active dealings on several names, as had been the case on Tuesday.

Bankrupt retailer Toys ‘R’ Us Inc.’s 2018 notes – which had zoomed by some 15 points on Tuesday – were seen having given at least some of those gains back on Wednesday, though in far quieter trading.

Traders said that hospital names such as Community Health Systems, Inc. and Tenet Healthcare Corp., up over the past two days after having been battered on Friday, were mostly back on the downside on Wednesday. But HCA Inc. seemed to be holding its own.

The traders saw underperforming Canadian aircraft manufacturer Bombardier, Inc.’s bonds – which had jumped by around six points across the board in very active trading Tuesday – largely staying around their previous closing levels, again on far less volume.

In the recently turbulent food stores sector, SuperValu, Inc.’s notes were gyrating around – first moving higher but then ending the day lower, as the supermarket operator and grocery wholesaler announced fiscal second-quarter results and an acquisition the wholesale area.

© 2015 Prospect News.
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