Wow, somebody must've made a killing off this. Another example of passing market inefficiency exploited by smart money.
So THIS Is How Bloomberg Gets Earnings Reports Hours Before They're Publicly Released...
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It turns out that some companies don't want to wait until the 4PM market close to post their earnings online, perhaps because they're worried they'll forget. So what they do is post them online earlier, but don't link to the page from their web sites. This renders the page invisible--unless you know what to look for.
Humans are creatures of habit, and the humans who post earnings releases on company web sites are no different than any other humans.
Which means that if the web-page URL for a company's second quarter's earnings release was, say:
www.disney.com/earnings/Q22010release
It's probably a safe bet that the URL for the third quarter's earnings release will be:
www.disney.com/earnings/Q32010release
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