This paper examines the impact of earnings announcements and earnings forecast revisions on stock returns across …-looking earnings announcement information and forward-looking earnings forecast information on the price of equity shares. We analyze … availability and actual or perceived reliability affect this relationship. We find that forward-looking analyst forecast …

earnings forecasters, we see that small adjustments to the model forecasts lead to more forecast accuracy. Based on past track …

in the next quarter. Our oil-response forecast strategy earns especially high returns in periods that follow large …

-trivial. We conjecture that analysts' interpretation skill can be gauged by their forecast revisions following material …

them. I find that negative management forecast surprises lead to a –5.9% abnormal return around the forecast and a 1 ….9% abnormal return and a –1.7% correction. The level of the stock market overreaction varies with the forecast and firm … characteristics, but the marginal impact remains the same: a 1% change in the stock market reaction around the forecast is associated …