Sector Underperform

  • 8:10 AM

    Pacific Rubiales Energy Corp (TSE:PRE) disclosed the termination of the proposed takeover offer from Alfa, S.A.B. de C.V. and Harbour Energy that will leave the firm to continue pushing forward in a challenging environment. With the deal falling through and with company’ high debt levels / limited growth visibility, we expect the stock will suffer

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  • 5:54 PM

    Niko Resources Ltd (TSE:NKO) posted that the Government of India cut the price of natural gas by 8% to $5.18/mmBtu from $5.61/mmBtu, which comes in below our base estimates of $5.25-$5.50/mmBtu. We continue to see the revenues from the updated price as insufficient for Niko to demonstrate any material positive net asset value value and

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  • 5:32 PM

    On Thursday, before market opened, DragonWave (NASDAQ:DRWI) released first quarter results last night. Results remained in-line with updated outlook. Revenue of $26.3 million was in line with updated outlook of $27 million. EPS -$0.08 was in-line with our expectation for -$0.09. Two customers each represented more than 10% of revenue. Nokia comprised 52% of revenue,

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