Earlier this week, we highlighted the percentage of companies guiding higher on a quarterly basis going back to 2001.
Below we highlight the percentage of companies guiding lower and the percentage offering no guidance at all. As shown, while the number is still below the overall average, the percentage of companies guiding lower this quarter (20%) is at its highest levels of the last six quarters with the exception of 4Q06 (22%).
Companies are also issuing guidance less and less. So far in the third quarter, 56% of companies have issued no guidance -- the highest level since the first quarter of 2003.