Corporate Gainers & Decliners
Investment-grade spreads that tightened the most...
Tuesday, May 22, 2012
Price moves by a company's debt in the credit markets sometimes mirror and sometimes anticipate, moves in that same company's share price.
SPREAD*, IN BASIS POINTS
STOCK PERFORMANCE
Issuer Symbol Coupon (%) Maturity Current Change Last week Close % Chg
Pitney Bowes PBI 5.000 March 15, '15 289 -31   310 $13.57 -1.45
Morgan Stanley MS 5.950 Dec. 28, '17 525 -27   466 13.31 0.91
Royal Bank Scotland RBS 6.400 Oct. 21, '19 414 -26   373 6.84 2.70
Bank America BAC 5.875 Jan. 5, '21 361 -23   315 6.98 2.20
Goldman Sachs GS 3.300 May 3, '15 343 -21   324 97.53 1.06
Lloyds Tsb Bank LLOYDS 4.200 March 28, '17 340 -20   318 n.a. n.a.
Bnp Paribas BNP 5.000 Jan. 15, '21 317 -19   312 n.a. n.a.
Virginia Electric And Power D 5.250 Dec. 15, '15 112 -19   n.a. ... ...
Sources: MarketAxess Corporate BondTicker; WSJ Market Data Group
...And spreads that widened the most
Tuesday, May 22, 2012
Price moves by a company's debt in the credit markets sometimes mirror and sometimes anticipate, moves in that same company's share price.
SPREAD*, IN BASIS POINTS
STOCK PERFORMANCE
Issuer Symbol Coupon (%) Maturity Current Change Last week Close % Chg
Caterpillar Financial Services CAT 1.050 March 26, '15 69   16 n.a. $... ...
Telefonica Emisiones Sau* TELEFO 3.729 April 27, '15 500   16 449 n.a. n.a.
Edison Mission Energy EIX 7.750 June 15, '16 2283   15 1910 ... ...
Quest Diagnostics DGX 5.750 Jan. 30, '40 224   14 n.a. 57.45 0.21
Lloyds Tsb Bank LLOYDS 6.500 Sept. 14, '20 586   13 n.a. n.a. n.a.
Vector VGR 11.000 Aug. 15, '15 873   12 n.a. 16.54 -0.30
Berkshire Hathaway Finance BRK 3.000 May 15, '22 139   11 127 n.a. n.a.
Jefferies JEF 6.875 April 15, '21 547   11 536 13.21 0.46
Sources: MarketAxess Corporate BondTicker; WSJ Market Data Group
High-yield issues with the biggest price increases...
Tuesday, May 22, 2012
Price moves by a company's debt in the credit markets sometimes mirror and sometimes anticipate, moves in that same company's share price.
BOND PRICE AS % OF FACE VALUE
STOCK PERFORMANCE
Issuer Symbol Coupon (%) Maturity Current Change Last week Close % Chg
Caesars Entertainment CZR 12.750 April 15, '18 79.000   2.25 81.500 $13.45 -3.31
First Data FDC 12.625 Jan. 15, '21 95.375   2.25 96.438 n.a. n.a.
Dynegy Holdings DYN 7.750 June 1, '19 64.000   2.06 66.500 ... ...
Clear Channel Communications CCMO 5.500 Sept. 15, '14 87.000   2.00 87.000 n.a. n.a.
Sprint Nextel S 8.375 Aug. 15, '17 96.250   2.00 96.500 2.41 1.69
Windstream WIN 7.500 June 1, '22 98.500   2.00 102.000 9.54 -0.10
Frontier Communications FTR 8.750 April 15, '22 100.063   1.81 n.a. 3.32 -1.48
Bill Barrett BBG 7.625 Oct. 1, '19 101.000   1.75 n.a. 20.01 -5.35
Sources: MarketAxess Corporate BondTicker; WSJ Market Data Group
...And with the biggest price decreases
Tuesday, May 22, 2012
Price moves by a company's debt in the credit markets sometimes mirror and sometimes anticipate, moves in that same company's share price.
BOND PRICE AS % OF FACE VALUE
STOCK PERFORMANCE
Issuer Symbol Coupon (%) Maturity Current Change Last week Close % Chg
Verso Paper Holdings VRS 8.750 Feb. 1, '19 39.875 -2.13   46.500 $... ...
Linn Energy LINE 8.625 April 15, '20 106.500 -1.75   109.250 36.38 0.53
Arch Coal ACI 8.750 Aug. 1, '16 98.750 -1.56   101.375 7.15 -7.38
JC Penney JCP 7.400 April 1, '37 85.000 -1.50   93.298 26.46 -0.75
Windstream WIN 7.500 April 1, '23 96.750 -1.26   101.250 9.54 -0.10
SLM SLMA 6.250 Jan. 25, '16 101.000 -1.25   102.500 n.a. n.a.
Compagnie Generale de Geophysique-Veritas* GAFP 9.500 May 15, '16 108.250 -1.19   109.750 n.a. n.a.
Alpha Natural Resources ANR 6.250 June 1, '21 89.250 -1.00   91.875 11.21 -3.94
Sources: MarketAxess Corporate BondTicker; WSJ Market Data Group
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