Civeo Plummets 50% On Lowered Outlook And Suspended Dividend

The sustained slowdown in oil prices is starting to slam stocks outside of the energy sector. The Civeo Corporation, a company that provides housing for oil workers in North Dakota, Texas, Canada and Australia, is down 50% in Tuesday trading on lowered 2015 guidance and a suspended dividend, moves that are a direct result of Civeo’s customers slashing their 2015 capital spending plans in the wake of oil market weakness.
Source: Markets