Company News

BUZZ-NCS Multistage: Hits record low after Q4 miss

** NCS Multistage’s shares fall as much as 36.6 pct to a record low of $7.89 after Q3 revenue, profit miss estimates

** NCSM, which makes engineered products and provides support services for oil and natural gas well completions, is top pct loser among U.S. stocks

** Quarter hurt by lower volumes of fracturing systems product sales and services in Canada, where customer activity fell due to weather, increasing commodity price differentials

** Sees elevated pricing differentials in Canada persisting into 2019 and beyond, resulting in lower customer activity, pricing pressure for products and services

** Stock has lost nearly half its value this year (Reporting by Amy Caren Daniel in Bengaluru)