USEC reported a net loss of $28 million, compared to $40.9 million in the second quarter of 2013. Revenue declined 57%, or $163.6 million, to $121.2 million.
The stock was relatively flat in early morning trading but surged mid-morning. The company released a brief statement in response to the unusual activity. "In view of the unusual market activity in the company's stock today, the New York Stock Exchange contacted the company in accordance with its usual practice. The company stated that its policy is not to comment on unusual market activity," USEC said.
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The stock was up 38.51% to $6.33 at 12:48 p.m. More than 4.9 million shares had changed hands, compared to the average volume of 1,567,870.
Separately, TheStreet Ratings team rates USEC INC as a "sell" with a ratings score of E+. TheStreet Ratings Team has this to say about their recommendation:
"We rate USEC INC (USU) a SELL. This is based on a variety of negative investment measures, which should drive this stock to significantly underperform the majority of stocks that we rate. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow and generally disappointing historical performance in the stock itself."