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15. The fact that a companys stock price does not change when earnings are announced indicates that a. Earnings were the same (per share) as

15. The fact that a companys stock price does not change when earnings are announced indicates that

a. Earnings were the same (per share) as in the previous quarter.

b. The securities markets are rational and efficient

c. The information contained in the earnings release was fully anticipated by investors.

d. Earnings deviate from investors expectations.

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