Group 1 - The core argument is that President Trump advocates for extending the earnings release cycle from quarterly to semi-annually, claiming it would save costs and allow better management of companies [1][2] - TD Cowen analyst Jaret Seiberg estimates a 60% chance that the SEC will implement this plan, although Wall Street expresses skepticism about potential negative impacts on corporate accountability and market volatility [1][2] - Historical context indicates that the SEC mandated quarterly reporting in 1970 as a response to the 1929 stock market crash to enhance transparency [1] Group 2 - Jaret Seiberg notes that for SEC Chairman Paul Atkins, this could be an easy policy win aligning with a trend of deregulation, but rule changes would require at least six months of preparation for judicial review [2] - BCA Research's Irene Tunkel argues that quarterly reports have become tools for manipulating expectations, with nearly 80% of companies beating estimates, leading to decreased credibility of earnings guidance [2] - Evercore ISI's Sarah Bianchi emphasizes that while Atkins acknowledges presidential influence over the SEC, the real test will be whether the SEC can maintain its course if it deems a change is necessary [2] Group 3 - Analyst Ed Mills points out that quarterly reporting is a requirement established by the Securities Exchange Act of 1934, and while the SEC has discretion, Congress is unlikely to eliminate core requirements [3] - Concerns are raised that extending reporting intervals could increase uncertainty and lead to greater market volatility upon disclosures [3] - Wells Fargo's Sameer Samana believes that less frequent information could be detrimental to investment decisions [3] Group 4 - Bokeh Capital's Kim Forrest warns that reduced reporting frequency would limit investors' access to critical information, hindering their ability to gauge company prospects through conference calls [3] - Piper Sandler's Michael Kantrowitz acknowledges the potential for reduced short-term volatility but notes that volatility can benefit certain traders and companies [3] - Newedge Wealth's Brian Nick cautions that this shift could lead to increased market uncertainty, lower valuations, and heightened volatility during earnings seasons [3] Group 5 - Miller Tabak's Matt Maley states that while reduced transparency may complicate matters for investors, it could allow management to focus on long-term business strategies, although it may disadvantage options traders who profit from earnings announcements [4]