Which One of the Following Statements Is Correct

Multiple Choice

Which one of the following statements is correct?

A) The weekend effect states that security prices tend to rise between Friday afternoon and Monday morning.
B) The market responds immediately to reflect insider information.
C) Low P/E stocks tend to outperform high P/E stocks on a risk-adjusted basis.
D) The market fully anticipates the information contained in an earnings announcement prior to the actual announcement.