as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
price movement behaviour before earnings announcements
user
this depends entirely on what the market guesses the news will be and how much of that guess has already been factored into the price. there is no general answer beyond that.  note that this explains the apparently paradoxical responses where a stock good down on good news (the market expected better) or up on bad news (the market expected worse).
assistant