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Also, the stock indexes remain only slightly under record high closing levels after the modest declines seen yesterday while the line-up of corporate earnings announcements remains thick.
Studies show that only 13.5% of non-GAAP pro forma earnings announcements resulted in this type of shift.
KUWAIT, Oct 23 (KUNA) -- The KSE Indices closed in positive as the market witnessed quarterly earnings announcements. The KSE Index closed at 5,780.76 up 49.50 points as the index reported gains at the beginning of the week, the first three trading sessions recorded 73.66 points, an economic report said.
According to the SEC release, Chad McGinnis, who used to work as a systems administrator for Green Mountain, purchased Green Mountain securities shortly before earnings announcements. The SEC also alleges that McGinnis tipped off his friend, Sergey Pugach, to inside information, and Pugach made trades in his own and his mother's accounts.
If earnings management affects the delayed market reaction to earnings announcements and if this effect is due to investor inattention, we would expect the effect to at least decrease as investors pay more attention to the anomalies.
HONG KONG GAINS AS EARNINGS COME INTO FOCUS Upcoming 2010 earnings announcements, rather than the latest tightening move by the Chinese central bank, were seen as a factor behind tepid price movements among Chinese banks in Monday morning trade.
Our study systematically investigates reactions of market participants to earnings announcements by firms that allegedly were engaged in accounting irregularities.
HONG KONG, October 12, SPA--Asian stocks were mostly lower Monday amid caution ahead of earnings announcements from large U.S.
Blue-chip stocks led Saudi Arabia's benchmark to close 4.59 per cent higher at 5,023 points yesterday as local investors snapped up bargains ahead of fourth-quarter earnings announcements. "This is the first trading day in the 2009 financial year so investors are deploying cash from their budgets to take positions ahead of the earnings," said Turki Fadak of the semi-official Saudi Economic Association think tank.
The key Nikkei stock index ended the Tuesday morning session slightly lower, after fluctuating without any clear direction, as investors were reluctant to make bold moves ahead of the House of Councillors election on Sunday and upcoming earnings announcements by Sony and other major companies.
Not surprisingly, the length of earnings announcements issued by Fortune 500 companies has increased 72 percent since 2000, according to a recent analysis of Business Wire clients.
They focus on the competition for investor attention between a firm's earnings announcements and the earnings announcements of other firms.

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