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Investors expect a company to announce a 10% percent increase in earnings, but instead the company announces a 1% increase in earnings. If the market

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Investors expect a company to announce a 10% percent increase in earnings, but instead the company announces a 1% increase in earnings. If the market reflects all available public information and is semi-strong efficient, which of the following would you expect to happen? The stock price increases by 10% The information has no effect on the stock price The stock price declines The stock price will increase; but the exact percentage could not be determined

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