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TYR just announced yesterday that its fourth-quarter earnings will be 35% lower than last year's fourth quarter. You observe that TYR had an abnormal return
TYR just announced yesterday that its fourth-quarter earnings will be 35% lower than last year's fourth quarter. You observe that TYR had an abnormal return of 3.7% yesterday. This suggests that Select one: O A. investors expected the earnings decrease to be larger than what was actually announced. O B. investors expected the earnings decrease to be smaller than what was actually announced. O C. TYR will probably fall in value tomorrow O D. earnings are expected to increase next quarter O E. the market is not efficient
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