$8.$ QQAG just announced yesterday that its fourth quarter earnings will be $35\%$ higher than lastyear's fourth quarter, You observe that QQAG had an abnormal return of $-1\mathrm{.}7\%$ yesterday. Thissuggests that

A$.$ the market is not efficient.B$.$ QQAG stock will probably rise in value tomorrow.C$.$ investors expected the earnings increase to be larger than what was actually announced.D$.$ investors expected the earnings increase to be smaller than what was actually announced.E$.$ earnings are expected to decrease next quarter.