Drug approvals, legal settlements, and getting acquired usually send a stock higher. Buying a company usually sends it lowers. With earnings, even if you know

Drug approvals, legal settlements, and getting acquired usually send a stock higher. Buying a company usually sends it lowers. With earnings, even if you know it in advance, you're trading against what the street thinks, not even what analysts estimate, and the wrong few off-the-cuff words in the earnings call can derail your trade completely.