Originally published Thursday, January 27, 2011 at 10:00 PM
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Firm gets hold of earnings data ahead of time
Microsoft Corp.'s second-quarter earnings were obtained from its website by a New Jersey market-information company more than an hour before the data's scheduled release, Selerity's chief executive officer said.
Microsoft's second-quarter earnings were obtained from its website by a New Jersey market-information company more than an hour before the data's scheduled release, Selerity's chief executive officer said.
The company used software it developed to obtain Microsoft's news release disclosing earnings from a public area of the software maker's site at about 2:50 p.m. New York time, Ryan Terpstra, CEO of Selerity, said in an interview. Selerity, based in Jersey City, sells market data it culls from the Web to investors.
Microsoft said in a statement that media outlets posted a "preproduction draft" of its earnings release to the Web before the markets closed Thursday at 4 p.m. New York time.
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