Enter multiple symbols separated by commas

Premature Earnings Release: Google Not the First

Google's Miss Highlights Big Worry on Wall Street
Tony Avelar | Bloomberg | Getty Images

Premature earnings releases: it's happened before.

The issue facing Google is not new.

On April 24, 2012, Buffalo Wild Wings prematurely released its earnings while the market was open. The stock, which had closed the day before at $83.04, closed at $78.17 on April 24, but rebounded the following day.

In November 2010, NetApp and Disney both released their earnings prematurely. (Read more: Google Earnings, Revenue Miss Wall Street Forecasts )

In the case of NTAP, Bloomberg retrieved unpublished financial data from the company's website and released the information shortly after 3pm ET on Nov. 18, 2010, while the market was still open.

The stock was halted, but not before dropping from roughly $54 to $49. The company released its "official" earnings release shortly after, about 3:30pm.

(Read more: Google's Miss Highlights Big Worry on Wall Street )

Disney also inadvertently posted its earnings on its website early, where it was picked up by Bloomberg.

Bottom line: a combination of carelessness and poor security measures causes these problems. (Read more: Should This Be Today's Google Doodle? )

—By CNBC's Bob Pisani

Bookmark CNBC Data Pages:


Want updates whenever a Trader Talk blog is filed? Follow me on Twitter: twitter.com/BobPisani.

Questions? Comments? tradertalk@cnbc.com

  • Bob Pisani

    A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

Wall Street

  • Robert Shiller

    Nobel Prize-winning economist Robert Shiller says that his key valuation indicator is flashing warning signs.

  • Lael Brainard

    The Fed is in the early stages of an analysis on changes in bond market liquidity, amid signs that liquidity may be less resilient than in past.

  • Bill Gross

    Janus Capital acquired a majority interest in Kapstream Capital and said Kapstream's Palghat will support Bill Gross as co-portfolio manager of the Janus Global Unconstrained Bond strategy.