Whisper Estimates

Whisper estimates or whisper numbers are informal forecasts for blue chip companies' earnings or economic indicators that circulate on markets a few hours before the information is published. They may be considerably different from the consensus estimates collated and published by earnings tracking companies and news agencies some days earlier. A company may see its stock sold off if it fails to meet whisper numbers even though it matches consensus estimates. Similarly, the effect on currency or bond markets from the publication of key economic indicators, such as U.S. non-farm payrolls, may be very different from what would be expected from consensus figures if they match or fail to match whisper estimates.

See also: Signalling