Whether or not he is right, investor reaction remained negative.

But when the merger was announced, he said, investor reaction was "negative, very negative."

It is precisely this kind of investor reaction that analysts believe could heighten the problems of some large banks.

"Good grief, now even the Fed is nervous over the loss of domestic control of financial markets," was a common investor reaction.

They concluded that the disposition effect slows the pace of investor reaction to new information.

The immediate investor reaction to the new uncertainty that the decision brought to the presidential race was negative.

The Dow gets the most publicity, and its action may help to explain the relative lack of investor reaction.

The second quarter traditionally has been haunted by investor reactions to bad news more than any other quarter, securities analysts pointed out.

Those uncertainties helped to dampen investor reaction to the dividend increase.

But investor reaction was never so negative.