Posted on 02/18/2011 12:14:02 PM PST by george76
The rarefied world of academics recently confirmed a sneaking suspicion: those “breaking news” banners on CNBC actually hardly ever, well, break news. And the market knows it.
A study that culled from almost 7,000 interviews with chief executives on CNBC over nearly a decade found a recurring pattern: the stock surged on the day the company’s head gave an interview to the business news cable television channel, then dropped right back down over the next 10 trading days.
(Excerpt) Read more at blogs.wsj.com ...
Makes no difference to interview these bigshots about their outfits. After all, what are they gonna say, that the company stinks the place out? Not hardly.
It’s just something to fill airtime. Nothing more, nothing less.
Earnings. Now THAT’S important.
I wouldn't be the CEO of a public company these days for anything, it's far, far too difficult to figure out what you can and can't say.
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