Rite Aid notes mixed after management shuffle; Halcon issues sink on poor earnings report

By James McCandless

San Antonio, March 13 –Trading in the distressed market swirled around retail and telecom names on Wednesday.

Rite Aid Corp.’s notes were mixed after the company announced several top management departures.

Sector peer Neiman Marcus Group, Inc.’s issues were also mixed.

In oil and gas, Halcon Resources Corp.’s paper sunk after posting lackluster fourth-quarter earnings results.

Oil future positivity spelled out similar results for California Resources Corp.’s, Weatherford International plc’s and EP Energy Corp.’s notes.

Away from oil, coal producer Murray Energy Corp.’s issues improved.

Elsewhere, in telecom, Frontier Communications Corp.’s paper continued to move higher as its new issue traded.

Meanwhile, Intelsat SA’s notes were also positive.

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