COVID-19 Related Liquidity & Guidance Moves in the S&P 1500
As the US economy opens up, a review of the past three months of S&P 1500 responses to the COVID-19 pandemic indicates that the largest companies, as measured by the S&P 500 market capitalization of $8.2B or greater, reported making the most moves to preserve capital and revise earnings guidance. We used the CompanyIQ® SEC EDGAR search tool to review the 8-K, 10-K, 10-Q, and DEF 14A disclosures of S&P 1500 companies.
Nearly half of large-cap S&P 500 companies withdrew their annual or quarterly guidance.
More than a third of S&P 400 mid-cap and S&P 600 small-cap companies did the same.