Do you notice any difference between the times of day positive announcements tend to be made versus negative announcements?

Option #1: Earnings Process and Efficient Markets 1 Much of the information on earnings surprises is supplied from Zacks.com (Links to an external site.) . Each day, the largest positive and negative surprises are listed. Go to: https://www.zacks.com/earnings/earnings-reports. (Links to an external site.) Identify the top positive and the top negative earnings surprises for a recent day. You will need to select day(s) to find examples. The table will list the time and date of the announcement. Do you notice any difference between the times of day positive announcements tend to be made versus negative announcements? Identify the tickers for the top three positive surprises. Once you have identified the top surprises, go to https://finance.yahoo.com (Links to an external site.) . Enter the ticker symbols and obtain quotes for these securities. Examine the 5-day charts for each of the companies and answer these questions: Is the information incorporated into price quickly? Is there any evidence of prior knowledge or anticipation of the disclosure in advance of the trading? Choose one of the stocks listed on Zacks.com (Links to an external site.) and click on its symbol to follow the link for more information. Click on the link for an interactive chart that appears under the graph. You can move the cursor over various parts of the graph to investigate what happened to the price and trading volume of the stock on each trading day. Do you notice any patterns? Your well-written paper must adhere to the following parameters: 4-5 pages in length, (1200-1500 words) using Microsoft Word or Excel, not including the title and reference pages. For calculations, you must show work to receive credit. Include any calculations you wish to support your argument in a table within your paper and be sure to submit only one document to be graded in response to this assignment. Cite a minimum of three outside sources, one of which may be your course textbook, in support of your responses. Cite a total of six references, with at least four scholarly references. Remember, you must support your claims and/or assertions and prior knowledge with references; all facts must be supported; in-text references used throughout the assignment must be included in an APA-formatted reference list. Review the grading rubric within this assignment for more detail on how this assignment will be graded.