- Oi SA (OIBR) is trading 3.9% lower as RBC Capital downgrades to Underperform, from Sector Perform, following a Q4 earnings report where the telecom swung to a net loss of 4.42B reais (about -$1.39B).
- Revenues of 7.32B reais missed an expected 9.12B by nearly 20%.
- EBITDA of 3.195B reais fell 12.5%, but beat an expected 2.84B reais.
- Shares in Oi are down 46% YTD.