This study shows that changes in sentiment inequality, defined as the consumer sentiment difference between high- and low-income groups, can predict the future performance of high-end compared with low-end product firms. Strategies that combine the use of sentiment inequality changes with firms'...

Using combinations of weekdays and times of day (before, during, and after trading hours) of earnings announcements, we examine whether managers attempt to strategically time these announcements. We document that the worst earnings news is announced on Friday evening and find robust evidence...