, Columnist
Listen to the Numbers, Not the Spin
Executives are withdrawing guidance at a record pace, but the stock market is responding to the happy talk.
Don’t get confused by the spin.
Photographer: MirageC/Moment Mobile/Getty Images
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The first-quarter earnings season is limping to a close this week, bringing two childhood sayings back to mind. First: “If you can’t find anything positive to say, don’t say anything.” And second: “Do as I say, not as I do.”