The Pan Fries Company just announced a new model of their cooker which will reduce cooking time and fat absorption. The price reaction of their stock is listed below. Calculate the abnormal return behavior, graph it and explain the behavior.
Definitions:
Bottom Line Earnings
Bottom line earnings refer to a company’s net earnings or net income, representing the "bottom line" of the income statement, indicating profit after all expenses have been deducted.
Revenue Recognition
The principle that determines the specific conditions under which revenue is recognized or accounted for.
SEC
The Securities and Exchange Commission, a U.S. government agency responsible for regulating and enforcing federal securities laws.
Persuasive Evidence
Information or documentation that reliably confirms the occurrence of a transaction or the reality of an asset or liability, meeting certain criteria to be recognized in financial statements.
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