>> civeo is a little unique. they have exposure to a higher cost crude around the world, and australia, negatively impacted by demand out of china. those markets have taken a pretty significant hit from an occupancy perspective. and they ratcheted in expectations, probably three or four months ago. and then again today provided more color, weaker than expected expectations for '15. >> why do you keep a neutral rating on the stock? as you mentioned, it got whacked the last time that you took down guidance just in set. it got whacked again overnight. what's the next shoe to drop here, that they're not going to meet their debt covenants? >> i think the most important thing behind our neutral rating right now is when we look at the stock, they have a three and a half times coverage ratio. we think we'll see this company delever over the next year. i think that's the key behind the suspension of the dividend as well. to remain in compliance with the debt covenance. >> in terms of the ones we should be worried about, w

ever since we heard about civeo yesterday. oil services provider cut in half today down more than 50%. and the implications of why this stock is tanking may be much bigger than just this company. right? >> that's for sure bill. you can read about the man camps that they have built. the big activist investors, the fact they have wanted to be a reit and didn't happen. perhaps a tax inversion candidate. that didn't happen. touches on themes of 2014. most notably, the drop in oil. coming up another twist in the sony hacking saga. now, serious doubt among many in the industry that it was, in fact, north korea behind the attack. some say it's a laid off sony employee. why was the fbi so fast to point the finger at north korea? who has it, right? >> i love it. this could make a good movie right here. would you share your car? not once in a while but every day. our andrew ross sorkin thinks this is the future for america. andrew will be here to explain in a few minutes. i'm not big on it. are you? >> on the idea of car sharing, bill?

so the biggest shareholder in civeo which makes oil field ak daxs for people to live in while they're working in fields has seen its largest partner ja jen partners, sell its stake. >> we don't know if david einhorn still own it is from green light. according to the last filing, he was in that name, too. >> david einhorn's green light capital also was a holder of this stock as of the last reporting period from the s.e.c. filings. we'll see if they are still in the stock or not. no disclosure yet but jenna partners filed this with the s.e.c. saying they have sold their entire stake. >> dom chu, thanks for that flash. b.k., i was thinking these activists have been a little quiet around this massive price decline. >> right. i think now i wouldn't be surprised to see this thing pop on friday when it opens up. you have this big overhang over it, whether there's a couple other people getting out, it wouldn't surprise me at all to see it pop. i think taking civeo, they're a smaller stock but they make the man camps and they're exposed to western canada. when i look around and try to extrapol

. >> the civeo story is sending ripple waves through the entire energy industry.first to come out saying hey, this will be a big problem with business spending here in the new year. we'll get new inventory data at bottom of the hour. we had the rig count baker hughes put out yesterday. shocker. 13 weeks of consecutive fewer rigs in the oil business. >> gold was a big winner. >> flight to safety. gold up 18 bucks. [closing bell ringing] nice rally for metals and miners today. david: gold is just barely over 1200. not only thing that is up. look what is going down, all the indices. russell 2000, let's start at the bottom. small and mid-sized caps we'll talk a lot about these with our investors coming up. that took a half a percentage point hit. nasdaq more percentagewise. s&p and dow jones down half a percent or third after percent. remember folks, volume is pretty low. it doesn't take much of a move on some stocks in the dow or s&p to really move it far. we have a busy hour. stay tuned. "after the bell" starts right now. david: let's get right to it. we have john t

civeo blames caps in oil spending.of core vex management. core vex believes that american realty shares are undervalued and expects to have strategy discussions with management. and watch the shares of tesla. they could get a boost from news that china plans to extend sales subsidies on electric and fuel vehicles out in 2020. those subsidies had been scheduled to expire at the end of next year. did you see that sports car tesla? it goes 400 miles on a charge. you could go l.a. to san francisco on charge. >> you get one of those? >> no. i saw it. i need a back seat. i do. i have to put the seat up and everything. but if we have to we can do that. i don't think this one has a back seat. but teslas are really fast. really fast. but now did you see the latest? electric cars are not that clean. the gasoline seems to bes a clean overall because of the power grid. >> because of how it's -- well there's always been a question of where it starts and where it ends. >>> coming up next the faithful in ann arbor singing hail to the

civeo. it provides temporary housing for oil workers. 42% loss at the open. suspended quarterly dividend. the expectation is now that they will deliver half the operating profits that the street marked up. >> this is a hedge fund stock. janna is in this stock and green light capital. that is a painful one today. >> art cashin taking pictures with his family by post 8. he'll make his way over in a moment. watch ups and fedex. they are changing their pricing strategy because the boxes that are being sent from online retailers are getting so large that they have come up with a new formula. goes into effect in a couple of days. for u.s. ground they will price it its dimensional weight. >> size matters. >> if you order something from amazon, it has a big box and they have bags to cushion it around. >> more and more is being shipped online. it's been a smooth season. >> a lot of housing names are down. toll brothers and lennar down 0.5% after s&p case-shiller continues to slide a bit. one of our questions for shiller might have been what happen wes we see negative

in the industry, so you would expect as other end that's as other oil companies have suffered, that civeo would suffer as well for step two years ago, it did at $1 billion in business. it is now expecting $540 million to 600 million dollars. a drop of 40% over the space of two years. it does most of its business up in alberta where the oilsands are. only 35% to 40% occupied now. the company is a spinning its dividend and slashing capex while most 75%. this gives you a sense of the kind of shock that is rippling through the oilfield services business as the oil price drops. to $53. in canada, canada produces at least in alberta heavy crude. this stuff requires a lot of refining. needs added value in order to become a marketable product. $37 a barrel -- that is all they are getting for this stuff. >> we are about to find out something scary for stop you look at stateside north dakota and texas -- they have had a tremendous boom in last seven years to 10 years around growth and will stop we are about to find out, a lot of these projects already online are going to continue producing, but we