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Geothermal corporation issued a press release before the stock market opened announcing that its earnings are below last year’s earnings. Explain how each of the following individual scenarios could be consistent with the semi-strong form of market efficiency.
(a) When trading opened after the announcement, the stock price quickly increased by 20%.
(b) The stock price of Geothermal increased slowly over the 30 days before the announcement that earnings were lower than last year.
(c) The stock price decreased by 10% immediately following the announcement but then increased throughout the day so that the closing price was only 2% below the previous day.
(d) The stock price of Geothermal did not change after the announcement was made public
Marley Enterprises has financing cash flow of -$41,400 and investment cash flow of $28,600 for the year. The beginning cash balance was $65,300 and the ending cash balance was $44,800. What was the operating cash flow for the period?
What interest rate would make it worthwhile to incur a compensating balance of $9,000 in order to get a 0.65 percent lower interest rate on a 2 year, pure discount loan of $165,000?
Assume that the annual interest rate on a six month us treasury bill is 5% and use the data presented in figure 18.1 to answer the following: Calculate the annual interest rate on six-month bills in Canada and Japan.
For the next 8 years, you decide to place $4454 in equal year end deposits into a savings account earning 9.85 percent per year. How much money will be in the account at the end of that time period?
The Campbell Company is considering adding a robotic paint sprayer to its production line. The sprayer would not change revenues, but it is expected to save the firm $544,450.00 per year in before-tax operating costs, mainly labor. Campbell's margina..
Community Hospital is a nonprofit, general acute-care hospital located in a wealthy suburb of City. Last year, it reported revenues of $100 million, and a “profit” (net revenues in excess of expenses) of $12 million. The cost (essentially the pro-ra..
If Bremmer's eranings per share is $1.35, what is the price per share of Bremmer's stock? Using the price per share in part (A) determine the price per book ratio if Bremmer's equity book value per share is $9.58.
You are working as a corporate treasurer and observe the following two exchange rates. Calculate, using $1 million how you could make an arbitrage (risk-free) profit.
A stockbroker has proposed two investments in lowrated corporate bonds paying high interest rates and selling at steep discounts (junk bonds). The bonds are rated as equally risky and both mature in 15 years. Construct a choice table for interest rat..
Flatte Restaurant is considering the purchase of a $9,100 soufflé maker. The soufflé maker has an economic life of five years and will be fully depreciated by the straight-line method. The machine will produce 1,550 soufflés per year, with each costi..
Ben Bates graduated from college six years ago with a finance undergraduate degree. Although he is satisfied with his current job, his goal is to become an investment banker. He feels that an MBA degree would allow him to achieve this goal. What init..
Barbarita’s Linens want to expand into the store next door to set up a Baby Supply Store. She needs $150,000 for the build out and new inventory of the project. Calculate the WACC. How much will the expansion cost in annual interest?
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