Research documents price comovements or “spillovers” between focal firms and peer firms at focal-firm-earnings announcements. We find signed and absolute comovements between focal-firm and peer-firm returns are significantly lower at earnings-announcement dates compared to non-announcement...

An analysis of about 300000 earnings forecasts, created by 18000 individual forecasters for earnings of over 300 S&P listed firms, shows that these forecasts are predictable to a large extent using a statistical model that includes publicly available information. When we focus on the...