To be clear, this applies to "after" the closing bell on Fridays, not "before" the opening bell on Fridays. The reason they often do this is because the market can't react for a couple of days, and they hope people will be less reactive after they've had a chance to calm down or perhaps pay little attention to the news that comes out on a Friday evening or over the weekend.

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But if I'm not mistaken, more than a few posters here have said that bad press comes out on Fridays so that the weekend can soften the blow come Monday.

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