LDK Solar Co., Ltd. (NYSE: LDK) was broadly higher Tuesday after boosting its top-line guidance for the third quarter. The alternative energy issue now anticipates revenue of $270 million to $290 million for the period, compared to its earlier forecast for $240 million to $270 million. Analysts' consensus expectations call for third-quarter revenue of just $249.9 million, according to Thomson Reuters.

LDK added that it now expects wafer shipments for the third quarter to range between 310 megawatts (MW) and 330 MW, up from its previous view of 260 MW to 300 MW. Simultaneously, the firm dropped its forecast for module shipments -- instead of 10 MW to 20 MW, LDK is now looking for module shipments of 5 MW to 10 MW.

FedEx Corp. (NYSE: FDX) is on the upswing after hiking its fiscal first-quarter earnings guidance. The parcel specialist said Friday morning that it expects first-quarter profits of 58 cents per share, up from its previous outlook of 30 cents to 45 cents per share. For the current quarter, FedEx predicts earnings of 65 cents to 95 cents per share.

Both figures compare favorably to analysts' consensus estimates, which call for a first-quarter profit of 44 cents per share and second-quarter earnings of 70 cents per share. Chief Financial Officer Alan Graf cited stronger-than-expected volume in FedEx's international priority-delivery service for the upbeat guidance, as well as strict internal cost management.

Burger King Holdings (NYSE: BKC) is on the upswing today after the fast-food chain topped analysts' earnings expectations. In its fiscal fourth quarter, the burger baron banked a profit of $58.9 million, or 43 cents per share, representing a 16% increase from the year-ago period. Revenue dipped 2% to $629.9 million, while same-store sales fell by 2.4%. By contrast, analysts were looking for a profit of just 33 cents per share on $632 million in revenue.

Looking ahead, the restaurant chain warned that it expects sales to be soft through Christmas. As a result, Burger King declined to issue specific earnings guidance for the current fiscal year. Additionally, the company plans to slow the pace of its new store openings; rather than the 360 new outlets opened in fiscal 2009, Burger King is targeting 250 to 300 openings in fiscal 2010.

Hormel Foods Corp. (NYSE: HRL) pleased Wall Street this morning with an upwardly revised 2009 forecast. Thanks to a strong third-quarter performance from its Jennie-O turkey unit, along with solid results in its refrigerated foods and grocery products divisions, Hormel now expects fiscal 2009 earnings of $2.36 to $2.42 per share.

"We also benefited from better investment performance in our rabbi trust," commented Chairman, President, and CEO Jeffrey M. Ettinger in a company release.

This morning, Level 3 Communications Inc. (NASDAQ: LVLT) confessed to a second-quarter loss of $134 million, or 8 cents per share, roughly tripling its year-ago loss of $42 million, or 3 cents per share. Revenue for the period slipped 12% to $942 million. The results were mixed, as far as analysts' expectations were concerned; Wall Street was looking for a slightly wider quarterly loss of 9 cents per share on more robust revenue of $959.4 million.

"The economy continued to be challenging in the second quarter for wireline service providers," said James Crowe, the company's CEO. "As expected, sequential revenue pressure continued in the second quarter, although at a significantly moderated rate. We did see improvements in sales and churn, however, they were not as much as we expected."

Jacobs Engineering Group (NYSE: JEC - option chain) stock is falling today after the company reported third-quarter earnings last night of $94.90 million or 76 cents per share, on revenue of $2.71 billion. Analysts had expected a profit of 75 cents per share on revenue of $2.83 billion. JEC also reduced its fiscal-2009 EPS guidance to a range between $3.10 and $3.35, down from a previous range between $3.10 and $3.50. Analysts are looking for EPS of $3.29. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on JEC.

This morning, JEC opened at $40.10. So far today the stock has hit a low of $39.62 and a high of $40.86. As of 12:00, JEC is trading at $39.81, down $3.58 (-8.2%). The chart for JEC looks bullish and S&P gives JEC a positive 5 STARS (out of 5) strong buy ranking.

Target (NYSE: TGT - option chain) shares are rising today after the company said it expects its second-quarter profit to meet or beat analysts' forecasts, despite reporting June same store sales that fell 6.2% year-over-year. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on TGT.

TGT opened this morning at $38.96. So far today the stock has hit a low of $38.47 and a high of $39.30. As of 11:35, TGT is trading at $38.67 up $1.41 (3.8%). The chart for TGT looks bullish and S&P gives TGT a positive 4 STARS (out of 5) buy ranking.

Potash Corp. of Saskatchewan (NYSE: POT) is under fire today after the firm lowered its second-quarter earnings outlook. Late Thursday, POT said it now expects earnings per share of 70 cents, compared to its prior outlook of $1.10 to $1.50 per share.

The company chalked up its slashed guidance to "substantially lower than forecasted potash sales volumes due to deferral of purchases by customers around the world and lower realized prices for phosphate fertilizers."

POT's full second-quarter results will be reported on July 23. Analysts surveyed by Thomson Reuters are looking for a profit of 81 cents per share, on average.

Last night, after the markets closed, Cree Inc. (NASDAQ: CREE), manufacturer of LED (light-emitting diodes) lighting technology, boosted its guidance for the fourth quarter, adjusting both earnings and revenue numbers.

The company expects to bank $143 million to $150 million in revenue for the current quarter, above the firm's earlier guidance of $137 million to $143 million. This translates to earnings per share of 15 to 17 cents, up from an earlier forecast of 13 to 15 cents (excluding items). Gross margins are expected at the high end of targeted levels (around 38% for the period).

Looking further down the horizon, CREE officials expect continued growth. CEO Chuck Swoboda said in a statement, "We . . . remain optimistic about the growth potential for LED lighting in fiscal 2010."

The U.S. economy falls into a recession, a global financial crisis ensues, triggering first a slowdown in global growth, then an outright global recession.

And almost on cue, companies begin to scrap guidance -- or their quarterly and full-year outlook for revenue, earnings and other metrics -- and the debate on the merits of guidance begins.

Is guidance superfluous, an unneeded metric on an already overloaded financial landscape? Or is the elimination of guidance another step into opaqueness and a lack of transparency -- just an extension of the clouded climate that's in part responsible for the financial crisis in the first place?

While Cisco Systems Inc. (NASDAQ: CSCO) beat earnings expectations for its second quarter and its stock is rising today along with the broader market, investors shouldn't get too carried away with optimism just yet. The world's largest maker of computer networking products said that as the quarter wore on, business got progressively worse.

Given that its quarter ended January 24, the signal has been given that a rebound is not yet imminent.

Dick's Sporting Goods (NYSE: DKS - option chain) shares are way higher today after the company announced yesterday evening that it expects fourth-quarter profits to reach at least the midpoint of its prior forecast. It had previously forecast earnings of 49 to 56 cents per share, while analysts are projecting a profit of 51 cents per share.

Not too many companies have been hitting their guidance recently, so since DKS has the confidence to up its numbers, investors are taking this as a very good sign. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on DKS.

Earlier today, Peter Cohan commented on Wal-Mart Stores, Inc. (NYSE: WMT) decision to stop giving monthly sales guidance. He writes that he "can't understand how this decision will help Wal-Mart investors who have already seen the value of their holdings decline 17% in 2009. If Wal-Mart has trouble seeing a month ahead, economic prospects must be cloudy indeed."

Peter may be on to something, but I think this move is good for investors. Here's why: Putting together monthly sales projections for the benefit of investors is really just a waste of time. Of course Wal-Mart has to do a certain amount of modeling for its own internal purposes, but there's just no particular reason to make those projections public and then discuss them with investors.

Reuters goes a long way toward reporting the obvious. Top management at large companies are having trouble predicting what will happen to their businesses more than a quarter out. This is not news because earnings releases for the last quarter of 2008 have be remarkably light on guidance for 2009.

What is less obvious is that the problem is likely to increase unemployment for two reasons. The first is that a company with little confidence in revenue projections is more likely to lay people off as a matter of caution. Looking at the economy has a whole, most firms would assume the worst.

The second by-product of caution in the face of little information is that corporations begin to cut capex. So much of GDP growth relies on large purchases of expensive capital equipment by enterprises that a drop in this kind of investing in the future ripples through the economy and causes more job devastation.

It would be nice if management at big companies could look at this as a "we have nothing to fear but fear itself" situation. But, it is much worse than that.

Douglas A. McIntyre is an editor at 247wallst.com

Fertilizer firm Potash Corp. of Saskatchewan (NYSE: POT) reported today that its fourth-quarter profit more than doubled, boosted by higher prices, but the firm warned that first-quarter and 2009 earnings will fall short of analysts' expectations. For the recently concluded quarter, POT banked a profit of $788 million, or $2.56 per share, on sales of $1.87 billion. Ahead of the report, Wall Street was expecting earnings of $2.28 per share on revenue of $1.82 billion.

Going forward, Potash Corp. said that 2009 potash shipments will be flat to slightly lower than 2008 levels, though it expects demand will gradually recover during the second half of the year. As a result, the company expects a first-quarter profit of 70 cents to $1 per share, and full-year earnings of $10 to $12 per share. Both figures fall woefully short of analysts' consensus estimates, which call for a first-quarter profit of $1.81 per share and 2009 earnings of $12.72 per share.