walk the street up or down

German translation: der Wall Street mitteilen, dass die Pro­g­no­sen zu niedrig oder zu hoch sind

10:29 Aug 19, 2019
English to German translations [PRO]
Law/Patents - Finance (general) / disclosure policy
English term or phrase: walk the street up or down
Unter dem Punkt "Offenlegung von wesentlichen, der Öffentlichkeit nicht zugänglichen Informationen" einer Offenlegungsrichtlinie.

"[Company] representatives may not provide “comfort” with respect to any earnings estimate or otherwise “walk the Street” up or down."

Etwa im Sinne von optimistisch oder pessimistisch kommentieren?
Mariana Rohlig Sa
Portugal
Local time: 10:12
German translation:der Wall Street mitteilen, dass die Pro­g­no­sen zu niedrig oder zu hoch sind
Explanation:
Attempted translation of the substantial meaning, based on my Reference post. However, it loses the metaphorical flourish of the source text.

Also noting that the definite article should be included in front of "Wall Street" in German.
https://www.proz.com/kudoz/english-to-german/finance-general...
"Die Wall Street hat gestern nach der Einigung zwischen Kanada und den USA [...]."
https://www.finanznachrichten.de/nachrichten-2018-10/4491453...
"Die Wall Street hat gestern schon einen starken Schluck aus der Pulle genommen, kann das heute so weiter gehen?"
https://www.nachrichten-fabrik.de/news/heute-wieder-happy-fr...
"Die Wall Street hat gestern Nachmittag den DAX mit sich nach oben gezogen."
https://www.finanznachrichten.de/nachrichten-2018-07/4424301...

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Note added at 2 days 18 hrs (2019-08-22 04:37:56 GMT)
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Alternative version: "der Wall Street vorzeitig mitteilen, dass ihre Pro­g­no­sen zu niedrig oder zu hoch sind".
The point of this is that it's OK to release information (indeed sometimes it's even obligatory), but it mustn't be done before the appropriate time.

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Note added at 3 days 18 hrs (2019-08-23 05:00:26 GMT)
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I acknowledge the helpful contribution of Thomas Pfann (in the Discussion section).
Selected response from:

D. I. Verrelli
Australia
Local time: 19:12
Grading comment
Vielen Dank für die Hilfe und die Erklärungen.
4 KudoZ points were awarded for this answer



Summary of answers provided
3der Wall Street mitteilen, dass die Pro­g­no­sen zu niedrig oder zu hoch sind
D. I. Verrelli
Summary of reference entries provided
U.S. finance sector usage
D. I. Verrelli

Discussion entries: 3





  

Answers


2 days 2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
der Wall Street mitteilen, dass die Pro­g­no­sen zu niedrig oder zu hoch sind


Explanation:
Attempted translation of the substantial meaning, based on my Reference post. However, it loses the metaphorical flourish of the source text.

Also noting that the definite article should be included in front of "Wall Street" in German.
https://www.proz.com/kudoz/english-to-german/finance-general...
"Die Wall Street hat gestern nach der Einigung zwischen Kanada und den USA [...]."
https://www.finanznachrichten.de/nachrichten-2018-10/4491453...
"Die Wall Street hat gestern schon einen starken Schluck aus der Pulle genommen, kann das heute so weiter gehen?"
https://www.nachrichten-fabrik.de/news/heute-wieder-happy-fr...
"Die Wall Street hat gestern Nachmittag den DAX mit sich nach oben gezogen."
https://www.finanznachrichten.de/nachrichten-2018-07/4424301...

--------------------------------------------------
Note added at 2 days 18 hrs (2019-08-22 04:37:56 GMT)
--------------------------------------------------

Alternative version: "der Wall Street vorzeitig mitteilen, dass ihre Pro­g­no­sen zu niedrig oder zu hoch sind".
The point of this is that it's OK to release information (indeed sometimes it's even obligatory), but it mustn't be done before the appropriate time.

--------------------------------------------------
Note added at 3 days 18 hrs (2019-08-23 05:00:26 GMT)
--------------------------------------------------

I acknowledge the helpful contribution of Thomas Pfann (in the Discussion section).

D. I. Verrelli
Australia
Local time: 19:12
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Grading comment
Vielen Dank für die Hilfe und die Erklärungen.
Login to enter a peer comment (or grade)




Reference comments


2 days 2 hrs
Reference: U.S. finance sector usage

Reference information:
This seems to be a 'Wall Street'-ism.

"Corporate Governance"
"Duke Energy Corporation
Regulation FD: Policy Regarding Communications With Analysts, Securityholders and Others"
"No Authorized Spokesperson shall provide “comfort” with respect to an earnings estimate or otherwise "walk the Street" up or down (i.e., suggest adjustments to an analyst’s estimates). If an analyst inquires as to the reliability of a previously, publicly disseminated projection, the spokesperson should follow the “no comment” policy."
https://www.duke-energy.com/our-company/investors/corporate-...

"Speech by SEC Staff:
Regulation FD – An Enforcement Perspective
by Richard H. Walker"
"The materiality of earnings guidance is the single item that has garnered the most attention and therefore is worth discussing today in somewhat greater detail. Numerous issuers, and others, have asked what they can say in this regard. [....] The adopting release contains a sentence that I hope is by now familiar to everyone here. It states: "If the issuer official communicates selectively to the analyst nonpublic information that the company's anticipated earnings will be higher than, lower than, or even the same as what analysts have been forecasting, the issuer likely will have violated Regulation FD."
Many have asked, "does this mean we cannot walk the Street up or down?" and "under what circumstances can we confirm prior guidance?"
The first question is easier to answer than the second. In short, walking the Street up or down is almost certainly prohibited and can no longer be done privately. I'm hard-pressed to think of a scenario where the reasonable investor would not be interested in knowing whether an analyst's forecast is too high or low, if even by a penny, under current market dynamics.
Confirming prior guidance raises a tougher issue. [....]"
https://www.sec.gov/news/speech/spch415.htm

FD = "Fair Disclosure"
https://en.wikipedia.org/wiki/Regulation_Fair_Disclosure
https://www.sec.gov/fast-answers/answers-regfdhtm.html

From all of this, "walking the Street" can be interpreted as a figurative expression meaning to guide "the Street", which I interpret literally as "Wall Street", and broadly as "(potential) investors, pundits, and other stakeholders". Here "walk" is being used in a 'causative' sense (cf. http://www.koreanwikiproject.com/wiki/Causative_form ), as in to cause the Street to walk (in a certain direction), analogously to the way one may "walk a dog". Of course, the correct interpretation is not literal walking, but figuratively "moving" — changing their mind, hence changing their 'position' (firstly in the sense of opinion/stance, but secondly as in a financial position).
It also can be viewed a bit like metaphorical expressions involving "to hold someone's hand", "to take by the hand", "hand-holding", all connoting guidance. (Because to "walk somebody" you may very well hold their hand.)

"Up or down" is referring to the direction of the guidance.

So, "to walk the Street up" would be to provide guidance that Wall Street's erstwhile estimates/predictions are too low, and should be increased.
Conversely, "to walk the Street down" would be to provide guidance that Wall Street's erstwhile estimates/predictions are too low, and should be increased.
I interpret Wall Street ("the Street") as a stand-in representing investors, fund-managers, commentators, pundits, and so on. The speech by Richard H. Walker refers to "analysts" and "investors".

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Note added at 2 days 2 hrs (2019-08-21 12:47:36 GMT)
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The other part of your source text — "provide “comfort” " — presumably refers to the middle ground alluded to by Richard H. Walker, namely "Confirming prior guidance". That is, providing guidance that Wall Street's erstwhile estimates/predictions are (approximately) correct [and so should not be increased or decreased].

D. I. Verrelli
Australia
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
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