Dennison Lumber announced last week that its unpopular CEO had resigned. In response to this announcement, the firm's stock price increased from exist17 a share to exist23 a share. The following day the price declined to exist21 a share and has remained constant at that level. This is an example of a(n): A) over-reaction and correction. B) pre-activity action. C) underpricing. D) delayed reaction. E) efficient market reaction. When a group of underwriters jointly work together to sell a new issue of securities, the underwriters form a(n): A) market union. B) syndicate. C) underwriting cartel. D) Dutch market. E) venture capital association. The party who serves as a dealer for a few securities on an exchange floor and is obligated to maintain an orderly market for those securities is called a: A) floor broker. B) member. C) floor trader. D) house broker. E) designated market maker. 4) You want to sell shares of stock at the current price. Which type of order should you place? A) stop B) limit C) market D) short E) post The current book value per share of B.L. Black & Sons is exist5.35 and the required return on the stock is 15.5 percent. The firm expects earnings per share of exist2.25 next year with annual earnings growth of 4.5 percent. What is the current market value of this stock? A) exist20.30 B)exist13.88 C) exist18.27 D) exist9.16 E) exist10.91