Vincent Grégoire

Yuntao Wu, Ege Mert Akin, Charles Martineau et al.

We examine how textual features in earnings press releases predict stock returns on earnings announcement days. Using over 138,000 press releases from 2005 to 2023, we compare traditional bag-of-words and BERT-based embeddings. We find that press release content (soft information) is as informative as earnings surprise (hard information), with FinBERT yielding the highest predictive power. Combining models enhances explanatory strength and interpretability of the content of press releases. Stock prices fully reflect the content of press releases at market open. If press releases are leaked, it offers predictive advantage. Topic analysis reveals self-serving bias in managerial narratives. Our framework supports real-time return prediction through the integration of online learning, provides interpretability and reveals the nuanced role of language in price formation.

Alexandre Cafaro, Amaury Leroy, Guillaume Beldjoudi et al.

We introduce a novel unsupervised approach to reconstructing a 3D volume from only two planar projections that exploits a previous\-ly-captured 3D volume of the patient. Such volume is readily available in many important medical procedures and previous methods already used such a volume. Earlier methods that work by deforming this volume to match the projections typically fail when the number of projections is very low as the alignment becomes underconstrained. We show how to use a generative model of the volume structures to constrain the deformation and obtain a correct estimate. Moreover, our method is not bounded to a specific sensor calibration and can be applied to new calibrations without retraining. We evaluate our approach on a challenging dataset and show it outperforms state-of-the-art methods. As a result, our method could be used in treatment scenarios such as surgery and radiotherapy while drastically reducing patient radiation exposure.