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PetSmart mixed as company preps IPO; DISH higher after posting earnings
By James McCandless
San Antonio, May 6 – A new week in the distressed debt space saw attentions paid to the retail and energy sectors.
PetSmart, Inc.’s notes finished mixed as the company prepares an initial public offering for e-commerce segment Chewy.com.
Sector peer L Brands, Inc.’s issues pushed higher.
Meanwhile, DISH Network Corp.’s paper moved up in the wake of its first-quarter earnings report.
In energy, California Resources Corp.’s paper rose after its earnings release.
As oil futures rose, Ensco Rowan plc’s and Weatherford International plc’s notes were mixed as McDermott International, Inc.’s issues rose.
Elsewhere, Dean Foods Co.’s paper improved as the company continues to explore strategic alternatives.
In the telecom space, Frontier Communications Corp.’s notes closed mixed.
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