Q: Arx. Has been weak since mid April..thoughts?
5i Research Answer:
ARX has been pretty choppy since April. But we do not see much company-specific news. ARX reported earnings early May and initially dropped, but this was reversed over the month. The decline is likely driven by broader oil & gas market trends. RBC recently mentioned that this quarter upcoming should be largely 'drama free' for oil and gas companies results-wise, despite lower activity. It is still up 20% for the year, about twice the performance of the TSX Energy sector.