Question
In an efficient market, the announcement that a company earned profits last year that exceed analyst's expectations should cause the tock to____________ A) Reacted randomly
In an efficient market, the announcement that a company earned profits last year that exceed analyst's expectations should cause the tock to____________
A) Reacted randomly up or down
B) Be unchanged since no one can benefit abnormally
C) No changes, since it was unexpected news
D) Rise very quickly
E) Rise gradually as investors learn the news
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Intermediate Financial Management
Authors: Eugene F Brigham, Phillip R Daves
14th Edition
0357516664, 978-0357516669
