Some Studies Have Attempted to Determine Whether It Is Possible

Multiple Choice

Some studies have attempted to determine whether it is possible to predict future returns for a stock based on publicly available quarterly earnings reports. The results of these studies indicate

A) stock prices adjust to reflect quarterly earnings reports.
B) stock prices do not adjust to reflect quarterly earnings reports.
C) support for the semistrong-EMH.
D) stock prices adjust if earnings reports are released in January.
E) stock prices do not adjust if earnings reports are released in January.