I find this to be slightly ambiguous. Sometimes an analyst conference call is not material nonpublic information, other times it is…Does it pertain to the mosaic theory of compiling information??
i dont think so - about mosaic theory i would say it’s material… as long as is for a limited group of people… i guess judgment comes into play
Here’s my take on it… If material information is being shared for the first time on a conference call with analysts, it is still nonpublic.
I think it depends upon the wording of the question. Generally, analyst conference calls are public information. Firms use the meetings to make certain information public (earnings, M&A, rumors, etc.). If the question says the conference is between the analyst and the CEO/CFI - the information may still be non-public. You can find analyst conference call transcripts on firms’ websites and on message boards soon after they happen. Sometimes there’s even a call-in # for people (investors) who would like to listen in.