People pass a sign for JPMorgan Chase at it’s headquarters in Manhattan, New York City.
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Here’s why: About 40% of companies are not providing any guidance at all. As a result, analyst estimates are all over the place, because they rely principally on company guidance to formulate their own models.
There’s an even bigger problem shaping up: Companies are unlikely to come out of their shell and start providing clearer guidance for the third quarter because the reopening story is much murkier than it was a month ago.
Already, General Mills,