The related CNBC piece cites a McKinsey study on the actual effect -- "Those in favor of guidance say it improves communications with Wall Street, reduces share price volatility and boosts a stock's value. But McKinsey & Co. found in a 2006 study that quarterly guidance didn't affect valuation multiples and didn't reduce share price volatility. The only significant benefit it observed was an increase in trading volumes, which is good for day traders but not useful for most other people."

https://www.cnbc.com/2018/06/06/warren-buffett-and-jamie-dim...