Multiple Choice
Studies of negative earnings surprises have shown that there is
A) a negative abnormal return on the day that negative earnings surprises are announced.
B) a positive drift in the stock price on the days following the earnings surprise announcement.
C) a negative drift in the stock price on the days following the earnings surprise announcement.
D) a negative abnormal return on the day that negative earnings surprises are announced and a positive drift in the stock price on the days following the earnings surprise announcement.
E) a negative abnormal return on the day that negative earnings surprises are announced and a negative drift in the stock price on the days following the earnings surprise announcement.
Correct Answer:
Verified
Correct Answer:
Verified
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