Frank Curzio is the portfolio manager of Stocks Under $10 and shows you how to profit from fear and forced selling. Watch his video and check out how he's playing the market during earnings season. See how Curzio monitors competitors of stocks under $10 to make money.
Stocks under $10 news of the week. Massey Energy ( MEE), which Curzio owns for his Stocks Ynder $10 portfolio, reported earnings this week of 51 cents a share, 2 cents below analysts' estimates. Massey generated $768 million in revenue, which beat expectations. The company sharply cut its production guidance for this year and 2010, but cuts were in line with its competitors. Parexel ( PRXL) reported stronger-than-expected third-quarter earnings of 25 cents a share and a revenue increase of 6%. The company raised its outlook for the rest of the year. Ashland ( ASH) also reported earnings this week. The stock is trading over $20, but Curzio owns it for his portfolio and bought the stock at $7. The company said its profit fell 33%, though it still reported a better-than-expected EPS of 65 cents. Citigroup ( C) and Bank of America ( BAC), two closely watched bank stocks under $10, were told that they might have to raise more capital, according to reports. BofA held its annual shareholder meeting this week, and CEO Ken Lewis was forced to give up his chairman title. General Motors ( GM) continues to restructure as its competitor, Chrysler, declared bankruptcy. In its latest attempt, the GM shut down more factories and dealerships across the country.