Stock Price Reaction to Quarterly Earnings Announcements with respect of outlook changes and deviation to consensus forecast

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Focusing on the significance of earnings announcements, particularly quarterly ones, this thesis addresses a gap in existing research that primarily examines long-term stock price reactions. While many studies analyze stock performance over several quarters, this work highlights the need for insights relevant to institutional investors, such as hedge funds, who engage in more frequent trading. By exploring immediate stock price responses, it aims to provide valuable information for investors seeking to make timely decisions based on earnings announcements.