A moving target

Earnings guidance isn’t what it used to be. But then, you knew that. A recent study by the National Investor Relations Institute (Niri) of 527 IROs shows a distinct trend toward longer-term perspectives in giving guidance. Moreover, the number of firms willing to give guidance fell to 71 percent from 77 percent in 2003.The topic has long been the target of criticism. Some say it skews the focus of senior management by homing in on near-term results. In the worst case scenario, management can