I realize these are naive, simple questions, but I don't know the answers and I'm having trouble finding definitive answers: 1.) A quarterly report is the same thing as a quarterly earnings report, no? 2.) What's the difference between an earnings announcement and filing a quarterly earnings report? Is the earnings announcement before the earnings report and just gives away the earnings results from the quarterly report? 3.) It seems to me that the results from an earnings announcement will particularly affect a stock the next day, but having a quarterly report filed doesn't have much of an effect? Why is this? Is this because everyone already knows the earnings information in the report from a previous earnings announcement? Still, there must be some new information in the report, otherwise what's the point of having it? Perhaps the report is accessible before it's filed so everyone has already taken the new information into account??? I'd really appreciate clarification on these stupid questions. Thanks in advance.