What a stock news API is for once the release is already public

On the morning of Wednesday, 4 November 2026, a stock news API for AMD returned a pile of headlines about a share price, and one company release from 21:15 UTC the night before. The headlines led with the jump. The release led with revenue of $13.4 billion, a data-center figure, a gaming figure that went the other way, a fourth-quarter outlook, and a reconciliation line of $1,097 million. If the feed is only a race to the first verb, the verb is the part the research says is not the edge.

The edge shows up after the item is public

Joseph Engelberg, Adam Reed, and Matthew Ringgenberg studied this in the Journal of Financial Economics in 2012, in "How are shorts informed? Short sellers, news, and information processing." A large share of short sellers' trading advantage, they find, comes from analyzing information that is already public. The well-known negative link between short selling and later returns is about twice as large on news days, and about four times as large on days with negative news. News days were only 22 percent of the days in their sample. Short positions opened on those days accounted for more than 45 percent of the profitability they measured from short selling.

They find only weak evidence that short sellers anticipate the item. The ratio of short sales to total volume is nearly flat through the news window, and where the timing differs from the rest of the tape, short selling rises after the story, not before it. The most informed of those sales come from clients, not from market makers. The bid-ask spread is wider on news days, by about 5 percent in their sample, so the result is not an artifact of easier trading. Public news does not hand everyone the same reading. It is the moment a careful reading pulls apart from a fast one.

Hearing a headline a few seconds earlier is not the advantage this paper can find. The advantage it can find is a repeatable pass over a document other people can also open. A stock news API is the pipe that puts that document, the publisher's clock, and the source name on one row. It is not a signal, and it is not a head start on a fact that is not public yet.

Five lines, taken from the document

This pass starts after you are holding the original. Whether the sentence is new, and whether a beat and an outlook point the same way, are earlier checks. Here the question is which numbers the headline deleted.

Write five lines, and stop. Use the company's sentences. Do not fill a blank from a commentator.

• What changed. The asset, the segment, the payment, or the contract. "Coffee business" is not yet a line. The brands, or the plant, or the segment name, is the line.
• The number, with its unit. Enterprise value is not cash received. Revenue is not a segment. A percent move in the share price is not either of those.
• What was kept, or what went the other way. A retained stake, a tax haircut, a segment that fell while the company total rose.
• When the figure applies. A close that is "expected" and still needs approval is not cash today. A fourth-quarter outlook is not a statement about the year after.
• The line a headline will not lead with. A reconciliation item, a second release the same morning, a segment that spoils the verb.

If line 2 is missing, you do not have a reading yet. You have a caption. Park the caption and open the document that has a unit.

Two releases from the morning of 4 November

Kraft Heinz filed the cleaner of the two, because the headline and the document almost agree, and the work is still in the units. The Business Wire release at 12:03 UTC says the company has a definitive agreement to sell its North America coffee business to an affiliate of One Rock Capital Partners. The brands named are Maxwell House, Gevalia, Nabob, Yuban, Tassimo, Ethical Bean, and Sanka. The enterprise value is $650 million. Kraft Heinz keeps a 30 percent non-controlling stake. Net cash proceeds after tax are expected to be about $500 million, planned for debt repayment. Closing is expected in mid-2027, subject to regulatory approval. About 250 full-time employees are expected to move with the business, along with plants in Jacksonville, Florida, and Vancouver, British Columbia.

"Kraft Heinz sells coffee" fails the five lines. Enterprise value, cash after tax, the stake that stays, and the year of the close are four different facts, and the headline kept none of them. A second Business Wire item one minute earlier names Kelly Dilts and J. Michael Schlotman to the board, effective 4 November 2026. That row is not the sale. If both land under one ticker and you keep a single sentence, you will either drop the directors or pretend they are part of the coffee price.

AMD is the messier file, and it is the one the tape was actually trading. The company release, "AMD Reports Third Quarter 2026 Financial Results," went out on GlobeNewswire at 21:15 UTC on 3 November, fifteen minutes after the cash close in New York. Third-quarter revenue was $13.4 billion, up 45 percent from a year earlier. Data Center revenue was $8.5 billion, up 97 percent. Gaming revenue was $773 million, down 40 percent. The Current Outlook section gives fourth-quarter revenue of approximately $17 billion, plus or minus 3 percent, which the company says is about 66 percent above the year-ago quarter, and a non-GAAP gross margin of about 55 percent. In the bridge from GAAP to non-GAAP, the change in fair value of warrant liabilities is $1,097 million, on warrants issued to certain customers, and the footnote says that line moves with AMD's stock price and other valuation assumptions.

By the morning of the 4th, wires were leading with the premarket move, on the order of 7 percent. One Reuters item said the company expects 2027 revenue growth of more than 80 percent. That sentence is not in the Current Outlook section of the release, which stops at the fourth quarter. Another headline tied a roughly $1 billion charge to customer chip deals. The release's own line is the $1,097 million warrant item, with the cause stated as a remeasurement. Those may be the same economics described two ways. They are not the same sentence, and you do not get to merge them until you have checked. Gaming down 40 percent does not appear in a headline whose verb is "jump." It is line 5. Write it down before you decide the night was one direction.

None of this is a price call. Engelberg, Reed, and Ringgenberg do not say that copying five lines produces a short. They say the measurable advantage of a group that does beat the tape shows up in how that group reads public news, especially negative news, after it is out. The five lines are the read. What you do with them belongs to a later question, which inputs in a forecast actually moved, covered in how to read a story for the fact that belongs in a forecast.

A price headline is not a fifth line

AMD was among the most-covered US tickers in the 24 hours through this morning, on the order of 50 items. Most of them are the release, then a rewrite, then a caption of the premarket trade. Reading all 50 is not processing. Processing is reading the release once, in publisher order, and then allowing a later row to add a clause only when it contains a figure the release did not.

A row whose news is that the shares are higher describes a trade. It does not fill line 2. Attention can still move the open. The document is what tells you whether data-center revenue, gaming revenue, the fourth-quarter figure, or the warrant line is what you are reacting to. A summary on the row is a compression: it will often keep the verb and drop the unit, which is how a $650 million enterprise value becomes "sells coffee." Use the summary to choose which document to open. Copy the lines from the document.

Pull the releases, then write the lines

The sort fails when the book is long and the open is close, because the tab that loads is a rewrite. A feed that returns the publisher's timestamp, the type of row, and the wire text lets you open the release first. Press releases from the major wires include that text. A publisher story gives you the headline, a short summary, and a link back. The fields are set out on the article object.

The cash close in New York on Tuesday, 3 November 2026, was 21:00 UTC. The United States was already on standard time, so do not reuse a daylight-time offset. This request asks for company releases on the two names above, from that close, oldest first:

curl -sS "https://api.marketnewsapi.com/v1/news?tickers=AMD,KHC&type=press_release&from=2026-11-03T21:00:00Z&sort=published_asc&limit=20" \
  -H "Authorization: Bearer mna-live-..."

Walk them in the order they come back. published_at is when the publisher released the item, not when the row reached you. For each release, write the five lines and stop. A later news row earns a clause only when it adds a figure the release did not contain, and you mark which document the figure came from. The 2027 sentence in the Reuters item is that kind of clause. It is not a replacement for the fourth-quarter line in the AMD release.

MarketNewsAPI is the feed behind that request. A free key is delayed 15 minutes, so the newest releases are missing on that key until the delay passes. A live key is not delayed. Pro is for your own use. A product you sell, or work you do for a client, needs its own license. Write to [email protected].

The request does not do the reading. Engelberg, Reed, and Ringgenberg is the reason the reading is the job. The headline was never the scarce part.

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