Mike,
This is an area that I have researched pretty thoroughly. I have plotted all of last year's earnings reports on an ANCR chart.
The Q1, 1997 report was issued on May 2nd. The stock price was almost totally flat for the week prior to earnings, closed at $4 that day, and closed at $5.625 a month later.
The Q2, 1997 report was issued on August 5th. The stock price had run up significantly prior to that date, closed at $11.25 on that day, and closed at $11.75 a month later. (This appears to have been an anomaly in the chart on this particular day. Overall, the trend was down to flat following earnings.)
The Q3, 1997 report was issued on October 30th. The stock price had gone through a significant decline in the weeks prior to the earnings release, closed at $6.25 on that day, and closed at $5.25 a month later.
Chartwise, we appear to match most closely with the Q2, 1997 report, but I don't feel comfortable drawing any conclusions at this point.
Hope this helps.
Craig |
