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by NovemberWhiskey 1246 days ago
Definitely not seeing Alphabet's 20:1 split in July 2022 when I glance at Yahoo Finance charts - you sure about that? Or are you saying they're adjusted for some corporate actions but not for others?

EDIT: OK, I see there's a note that close is split-adjusted but not dividend-adjusted.
1 comments
compumike 1246 days ago
That’s correct: their charts are split-adjusted but that’s all.
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Galanwe 1246 days ago
Dividend adjustment wouldn't really matter in this study. The price discount at dividend ex date should match the price increase post earnings announcements, so it's netted and disappears once you compute >=quarterly returns.
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dmurray 1246 days ago
This is not correct.

The price increase at earnings announcements is (to a first order approximation) indicative of the extent to which the company's earnings exceeded the market's expectations. It's as likely to be positive as negative. Otherwise you could buy the company's stock the day before the earnings announcement and get yourself some free money.

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