Approximately 27% of S&P 500 companies have cut or withdrawn their earnings guidance over the past month, according to data from Citi and observations from market analysts. Stocks of companies that reduced guidance declined by 5%, compared to a 1% rise for those maintaining their outlook. Bank of America highlighted a potential information vacuum as firms increasingly avoid forward-looking statements during the current earnings season. Among the limited companies providing guidance this quarter, none have issued forecasts above consensus expectations. Additionally, top-line earnings beats are at their lowest level in over five years, raising concerns about corporate performance amid economic uncertainty.