If the result is so bad (looks bad to me), why did the share...

If the result is so bad (looks bad to me), why did the share price hold up so well today? If I were quicker on the uptake, I would have realised that there was a reason they were raising so much capital at this time. The reason being that they obviously knew that the first quarter result would be bad, so wanted to raise before it came out. You would have to think that this will create some bad feelings amongst those who participated in the raise. Hopefully I'm missing something and there is a good reason why the sky is not falling.