Studies of negative earnings surprises have shown that there is          A)   a negative abnormal return on the day that negative earnings surprises are announced.              B)   a positive drift in the stock price on the days following the earnings surprise announcement.          C)   a negative drift in the stock price on the days following the earnings surprise announcement.          D)   a negative abnormal return on the day that negative earnings surprises are announced and a negative drift in the stock price on the days following the earnings surprise announcement.          E)   a negative abnormal return on the day that negative earnings surprises are announced and a positive drift in the stock price on the days following the earnings surprise announcement.

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