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Friday
Nov162012

Guidance Spread Still Negative But Gets Slightly Better

The spread between the percentage of companies raising guidance minus the percentage of companies lowering guidance ended at -5.4 percentage points this earnings season.  This marked the fifth consecutive earnings season in which more companies lowered guidance than raised guidance.  We haven't seen that happen since the 2001/2002 bear market.  While bad, the final guidance spread of -5.4 percentage points was slightly better than the -5.6 reading we saw last earnings season.  Hey, the bulls will take what they can get.

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