It made a lot of sense to require issuers to disclose earnings-related news to the public at the same time it was disclosed to the analysts. That really changed the game, and some companies flirted with no-guidance at all. Now comes a report from a committee setup by the U.S. Chamber of Commerce, an effective lobby, that recommends scrapping quarterly earnings guidance completely. The idea is that American companies have a short-term earnings perspective, and that is contributing to a corporate culture that values beating the estimates (if only by a penny) at all costs. The last-minute search for revenue is familiar to many on the corporate side. But once a year guidance, as the report recommends, really make a difference. Probably not. If the argument is lack of investment, this will likely not be a solution. It may leave investors that much more in the dark.

For more:
- here's a MarketWatch article