Another example, Carvalho said, is a Brazilian company Minerva, which sells meat on the global market and gets payments in dollars. For the full year, revenue is expected to jump 11 percent and earnings are expected to rise 55 percent, according to Thomson Reuters.
Brazilian and other emerging markets' stocks continue to be volatile, though this volatility is "not unheard of," BlackRock's portfolio manager Rodolfo Martell told CNBC. He said the emerging markets saw similar volatility in May 2012 and in the fall of 2011.
Even taking into consideration the latest outflow, emerging markets have seen inflows of $10 billion this year, said Martell, whose investment company has $250 billion under management in emerging markets.
(Read More: Asia Currency Sell-Off Goes From Bad to Ugly)
Martell remains positive on emerging markets in the medium and long term, though he said merging markets could see more capital outflow in the near future.
"There is still some room for things to get worse before they get better," he said.
With U.S. yields on the rise and investors selling emerging market stocks, regional currencies may continue to slide.
"The Latin American currencies are reacting to the change in the outlook for interest rates in the U.S.," said Tree Capital's Carvalho.
As of Monday, the U.S. benchmark 10-year Treasury yield was at 2.624 percent, an enormous spike. Latin American rates have to rise and currencies have to adjust, he said. Carvalho expects these currencies to keep sliding in the short term.
"The outlook is going to be very volatile, probably the currencies will be very week, until the Treasurys market stabilizes," he said.
(Read More: Cramer: Bernanke Lost Control of Bond Market)