Are we in recession again? Weak recovery? Heading for Financial Crisis 2.0? No wonder more than a few CFOs and IROs have been wringing their hands over what guidance to provide investors as part of the second-quarter reporting season. If you’re looking for an example of softening guidance by widening the range, Procter & Gamble [...]
As the Q2 reporting season winds down, a nightmare scenario for investor relations professionals comes to mind: accidentally leaking your company’s earnings release or M&A announcement by inadvertently posting it online. Such a leak spreads easily into a widespread spill into social or traditional media. Can’t happen? Well, it does. A panel discussion at the NIRI [...]
February 9, 2011 – 12:12 pm
While shoveling snow this morning – yet again! – I was thinking about how quick the media are quick to hype the latest “blizzard” or “worst winter since the Ice Age.” But should investor relations blame weather for missed earnings or a chill in sales? It’s not an easy question, but IR people (like the [...]
November 12, 2010 – 4:45 am
THE Walt Disney Company (NYSE:DIS) yesterday saw its stock plunge after the company’s earnings release, disclosing worse than expected results, was discovered on its website at least 30 minutes prior to the normal release time. The incident, which is similar to a situation that hit Dell Inc. last year, once again highlights the importance of [...]
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October 30, 2010 – 1:13 pm
Legendary value investor Marty Whitman gives a good interview on investing in the October 30 Barron’s. It’s a fun read, if you like to gather wisdom from folks who have been around Wall Street for more than a few bull – and bear – markets. The 86-year-old founder (and still chairman) of Third Avenue Management [...]
Arrival of the second half, naturally I think, sets investors and investor relations people to thinking about year-end. We’re halfway through 2010, so we begin to ask, “What will the outcome of this year be, in earnings and other accomplishments? … or in disappointments?” As an IR person in the US, I’ve always seen Fourth [...]
In a spirit of renewed regulatory machismo, the SEC is reportedly investigating whether generic drug company Mylan violated Regulation FD by “sounding excited” and dropping positive hints about upcoming earnings in a 2009 meeting with a analysts and investors, according to today’s Wall Street Journal (page C1). The incident is a reminder of the risks of [...]
Among old Wall Street sayings, “Sell in May and go away” holds special attraction. A strategy for a worry-free summer, a way to reduce risk amid seasonal doldrums, a vacation from busyness. Ahhhhhh … For investor relations, alas, “go away” doesn’t completely apply. There is, of course, second-quarter reporting. A few meetings. Always the potential [...]
– by Neil Hershberg, Senior Vice President – Global Media, Business Wire It is the hidden paradox of the regulatory reform debate dominating today’s headlines. While improved disclosure and transparency are widely seen as the ‘silver bullets’ to remedy Wall Street’s worst abuses, the integrity of the disclosure process itself is under attack. And individual [...]
February 24, 2010 – 11:46 pm
We can all probably guess the least favorite news in the eyes of investors. Yes, it’s the earnings warning: Pre-announcing a disappointment in the numbers produces the most negative response in stock price, a new study shows. The CXO Advisory blog, which reports daily on studies of investing theory and practice, provides a good summary [...]
