Earnings Season Preview: Company Guidance :-(

The number of companies in the Standard & Poor’s 500 index that have made downward profit revisions is at a level not seen since the 2001 economic recession, making sell-side analyst projections look rosy. There were 96 instances where companies revised their fourth-quarter earnings estimates downward, while there were 27 upward revisions. (Here is the list of companies that issued guidance.)