Excerpt from Yahoo Finance quoting DataTrek’s Nick Colas:
…. “[The study shows] that earnings releases are ‘noisy’ – replete with information that markets will take as good or bad in unpredictable fashion,” Nicholas Colas, co-founder of DataTrek Research said in a December note. “On top of that, markets go into earnings releases with a hard-to-determine set of expectations. Combine the two issues, and you have the explanation for why just seeing the earnings release is not a foolproof path to 100%-certain trading profits.”
Read the full article here on Yahoo Finance!