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Fly News Breaks for November 2, 2018
IO
Nov 2, 2018 | 07:42 EDT
As previously reported, Oppenheimer analyst Colin Rusch downgraded ION Geophysical to Perform from Outperform following the company's Q3 results. As IO waits for bid rounds in Panama and Mexico to move forward, it appears to be controlling what it can effectively, despite more challenging than expected industry dynamics, Rusch tells investors in a research note. However, with the stock down about 70% from its recent high, Rusch says management's new stock compensation plan "may not sit well" with some investors as management is pricing RSUs after a large sell-off in front of a seasonally strong quarter. He moves to the sidelines given political uncertainty and limited visibility to revenue growth
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