Stock market news today September 27

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Companies are sticking to a practice that Warren Buffett
and other business titans warn is damaging the economy

Warren Buffett
has long said short-termism is bad for companies, but many didn’t
seem to concur last year.

Companies on the S&P 500 issued quarterly earnings guidance
444 times in 2017, the most since 2008, according to
a report
by S&P Global Market
Intelligence released on Thursday.

Forward guidance remains a cornerstone of the quarterly ritual of
earnings reporting. Unlike their results, public companies are
not required by law to give investors hard estimates for the
future. But many companies do so anyway to give analysts and
shareholders a sense of their outlook and sometimes by popular
demand.

But Buffett, the CEO of Berkshire Hathaway, has refrained from
this practice. In fact, his company’s earnings statements are so
unorthodox that they don’t include any quotes from him or other
executives, which he reserves for his annual
letter and shareholder meeting.

Personal Capital, a financial planning website, appears
to be gearing up for an IPO

Personal Capital, a financial site that allows users to connect
all of their accounts to see their money in one cohesive
dashboard, appears
to be gearing up for an initial public offering.

The company published a job
listing on Wednesday afternoon seeking a “Manager of SEC
Reporting & Technical Accounting” in its Redwood Shores,
California headquarters. According to the posting, this person
“is responsible for providing technical expertise and support for
the SEC filing and compliance related reporting and technical
accounting functions for a pre-IPO company.”

The person will also lead preparation of regulatory filings
required of companies to list publicly on a stock exchange, it
said.

Goldman Sachs has finally rehabbed its reputation, 10
years after the financial crisis

Once called a “great vampire squid” in the
depths of the financial crisis, Goldman Sachs’ image has
recovered in the last 10 years.

Slightly more American adults would now feel “proud” to work for
the Wall Street giant, as opposed to “embarrassed,”
according to new data from YouGov’s Plan & Track, a research
firm tracking brand awareness and perception.

This change comes after the firm’s reputation score — which
gauges how open US consumers aged 18 and up are to being employed
at a particular brand — spent years emerging from negative
territory following the financial crisis, the data shows.

In markets news