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What: Shares of miner Qiao Xing Universal Resources
So what: The gains were in reaction to the company's report of fourth-quarter and full-year 2010 results. Well, at least for the company's mining business. The earnings release was far from comprehensive, and it appeared that the company mostly presented the data that it wanted investors to see. Fourth-quarter results, for instance, were said to have been impacted by plant maintenance, but the press release didn't provide comparable fourth-quarter 2009 results to stack them up against. From a full-year perspective, though, the mining operations did give the company something to crow about, as net income increased 41% on a 55% increase in revenue.
Now what: Not surprisingly, the company chose to ignore its stake in the money-losing Qiao Xing Mobile
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Fool contributor Matt Koppenheffer owns shares of Qiao Xing Mobile, but does not have a financial interest in any of the other companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool’s disclosure policy prefers dividends over a sharp stick in the eye.