Managers conducting earnings conference calls display distinctive styles in their word choice. Some CEOs and CFOs are … find earnings news less informative when managers are vague; they respond less and more slowly as a result. Thus …

Managerial behavior differs considerably when managers report quarterly profits versus losses. When they report profits …, managers seek to just meet or slightly beat analyst estimates. When they report losses, managers do not attempt to meet or … slightly beat analyst estimates. Instead, managers often do not forewarn analysts of impending losses, and the analyst's signed …