Bioelectronics Corp (BIEL)

[Jonnyo07]

This is from Quartz at qz.com:

“In fact, by one measure, Friday filings might even get a little extra scrutiny—presumably the opposite of what those companies were hoping for.”

“The data shows that earnings reported after hours and on busy days — as well as on Fridays, interestingly—are significantly worse (relative to consensus forecasts) than at other times.”

“it seems that managers do try to hide bad news by announcing it in periods of low attention.”

And it works the other way, too. “Our results also indicate that firms that beat expectations are trying to highlight their good news by moving to days when there’s higher attention,” deHaan says. “It’s two sides of the same coin.”