Monday markets continued the theme from last week: volatility (NYSE:VXX). The Dow (NYSE:DIA) fell 51 points on Monday, and is down 1.8% over the past 3 trading days. Japan’s Nikkei (NYSE:EWJ) felt the full force of its first full day of trading after the country’s devastating earthquake. The Nikkei was down 6.45% on Monday.
Looking back at history, it make take a while before the Nikkei finds a bottom. In 1995, it took the Nikkei about 6 months and 24% to bottom out after the 7.3 Kobe Earthquake. Even more volatility is expected as reports about unstable nuclear plants in Japan weigh on investors.
These 3 companies reported earnings on Monday. Uranium stocks were heavily affected, but how did these other 2 stocks hold up?
1) Uranium Energy Corp (AMEX:UEC): The company reported a 10 cents per share loss for its most recent quarter. Analysts were only expecting about a 2 cents per share loss. Shares had a meltdown during regular market hours of 19.18%. Shares fell another .51% in after hour trading. On a positive note, the company has no long term debt on its balance sheet.
2) Dole Food Company (NYSE:DOLE): Shares were strong Monday during regular market hours, but fell nearly 6% after the company reported fourth quarter results. The company reported a loss of $36 million, compared to a $15 million profit last year in the same period. The company also reported an increase of 11% from Q3 to Q4 in packaged foods, but fresh vegetable sales fell 2.1% in the same period.
3) China Mass Media Corp (NYSE:CMM): China Mass Media Corp. operates as an independent advertising company in the Peoples Republic of China. Net income for the fourth quarter was $2.9 million, which is a 195% increase from the third quarter. Total net revenues also increased 38% from Q3 to Q4. Shares are responding to the news by heading 2.27% higher in late trading.
Disclosure: No positions