RE:WJX earns 20 cents and the market likes it. Huh?With news of that nature it typically does not spark a herd mentality but it does tend to make some people re-evaluate their positions. That in turn will cause more of a drift to the new point of market equilibrium instead of a fast plunge with a few undershoots and overshoots until it in rings in to it's new perceived value.
Even excluding one time events they still did not make enough to cover their dividend, which after a little time to digest, will cause a few conservative dividend investors to look elsewhere to park their money.
Disclaimer: I have sidelined my holdings in almost all my oil and oil related stocks one year ago.Looking for re-entry into the sector when oil stabilizes and the weaker companies are gone. Then and only then will the better managed companies prosper.