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Fisher & Paykel has a beta of 2. NZX50 has a return of 2.5% yesterday, and the risk-free rate is currently 0%. You observe that

Fisher & Paykel has a beta of 2. NZX50 has a return of 2.5% yesterday, and the risk-free rate is currently 0%. You observe that Fisher & Paykel has a return of 5% yesterday. Assuming that markets are efficient, this suggests that

Select one:

a. bad news about Fisher & Paykel was announced.

b. good news about Fisher & Paykel was announced.

c. no news about Fisher & Paykel was announced.

d. none of the options are correct.

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