suggests that investors and analysts do not, on average, adjust their expectations for the extra week. The ease with which 14 … and analysts …

achieving analysts’ target prices at some time during the forecast horizon. These results suggest that the analysts fail to …

. Prices move more, as hypothesized, in firms where tone surprise predicts more strongly. Experienced analysts respond … appropriately in revising their forecasts; inexperienced analysts overreact (underreact) to tone surprises in presentations (answers …

Analysts' functions are divided into discovery and interpretation roles, but separating between the two is non …-trivial. We conjecture that analysts' interpretation skill can be gauged by their forecast revisions following material … unanticipated 8-Ks are informative for analysts, and find that analysts who are more likely to revise their forecasts following …

Analysts providing more accurate earnings forecasts also issue more profitable recommendations. We demonstrate how … investors can profit from this contemporaneous link by differentiating between able and lucky analysts. In line with previous … analysts working in a superior environment provide consistently profitable recommendations. The overall profitability of their …

Analysts providing more accurate earnings forecasts also issue more profitable recommendations. We demonstrate how … investors can profit from this contemporaneous link by differentiating between able and lucky analysts. In line with previous … analysts working in a superior environment provide consistently profitable recommendations. The overall profitability of their …

recommendation profitability (Loh and Mian (2006)). Differentiating between 'able' and 'lucky' analysts we suggest an implementable … our 1994 - 2007 sample period. Rather than past track records analysts' characteristics indicate their ability to identify … indicates that the ability is real. Able analysts can distinguish between firms that will over- or underperform. …