Guidance doesn't come easy in the coronavirus era

Jun. 29, 2020 2:48 AM ETBy: Yoel Minkoff, SA News Editor2 Comments
  • Through June 25, at least 218 companies in the S&P 500 - about 40% of the index - have withdrawn or withheld either their quarterly or annual guidance, according to data from Dow Jones.
  • Another 154 S&P 500 companies have lowered at least parts of their outlooks as a result of the coronavirus pandemic, though more than 28 companies have raised expectations.
  • By sector: Telecommunications, automotive, industrial goods and leisure companies had the highest percentage of guidance withdrawals, while utilities, media, financial services and energy companies have had the smallest percentages.
  • On average, shares for the companies that have withdrawn or withheld guidance are down 18.2% YTD vs. a decline of 6.9% for the S&P 500.

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