Companies Lack Visibility on Earnings
Corporate quarterly earnings reports provide a useful perspective on spending, profitability, and capital flows on both a backward-looking and forward-looking basis. However, many firms pulled their guidance earlier this year and currently just 11% of firms in the S&P 500 index and 4% of firms in the Stoxx 600 have provided an estimate for 2020 earnings, reflecting the massive uncertainty that the coronavirus pandemic continues to wreak.
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