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Russell Construction, Inc. is expected by the market to announce earnings per share for the previous quarter of $ 3 . 7 5 when they

Russell Construction, Inc. is expected by the market to announce earnings per share for the previous quarter of $3.75 when they make their earnings announcement next week. Last quarter their earnings were $4.00 per share, and one year ago around this time they announced quarterly earnings of $4.50 per share. If, next week, they announce earnings of $3.90 per share, all else equal, what will this portion of the announcement be expected to do to the price of the stock?
The stock will go up.
The stock will go down.
The stock will remain unchanged.
Unable to determine, as quarterly earnings announcements do not affect the price of a stock.

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