Yeah, I assumed that some large investors (e.g. hedge funds) would have someone skilled in accounting shenanigans and would make big bets to move the market to reflect the information that was publicly available.
Also, an accounting loss isn't always a "real" loss. For example, with the recent tax overhaul, some companies booked unexpected losses because they had significant carry forward losses. Those were reduced in value because the corporate tax rate went down. But essentially nothing changed -- yes the tax base and book value of these losses were adjusted, but no cash was lost.
They can also push revenue or profits back or pull it forward. It really is a jungle out there.