First Fondene in protest against "analyst massage" in Norway
Thomas Nielsen from Norwegian asset manager First Fondene criticizes listed companies for making phone calls to individual analysts before publishing their quarterly reports. In his opinion, the early information gives the analysts a headstart.
BY HELLA ANDERSEN
Four times a year, prior to the season for publishing quarterly reports, it is common for listed companies' investor relations departments to make a number of calls to Norwegian analysts, offering a review of the relevant quarter. This practice is often referred to as "analyst massage", reports local business newspaper Finansavisen.
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