The UK autumn budget introduces modest measures, but rising debt interest costs and recent downgrades to growth forecasts have pushed up the deficit. Goldman Sachs believes tight departmental spending plans will put pressure on next year's spending review.
Third-quarter revenue in 2026 rose 25% year on year, while net profit grew 175% from a low base, exceeding Goldman Sachs' forecast by 52%. Goldman Sachs raised its earnings forecasts but remains concerned about the profit potential of the robotics business and the company's valuation.
Goldman Sachs sees modest differentiation for Amgen’s dazodalibep in improving dryness symptoms. Early data for two allogeneic CAR-T therapies are also encouraging, although patient numbers and follow-up remain limited.
The Federal Reserve held interest rates unchanged in October after its previous hike. Goldman Sachs believes the meeting language and the chair’s remarks support a pace of hikes at every other meeting, but another hike next March remains possible if inflation exceeds the bank’s expectations.
Third-quarter property EBITDA was slightly above Goldman Sachs’ expectations, but fell 6% quarter on quarter after adjusting for the VIP win rate. Slot machine expansion lifted market share, while Goldman cut its earnings forecasts and target price following a recent weakening in gaming revenue.
Goldman Sachs believes improved profitability in the existing life insurance business supported operating profit, but weaker new policy sales and new business margins weighed on the outlook for future growth.
Goldman Sachs maintains its Buy rating: the company's third-quarter revenue rose 66% year over year, but its operating margin fell to 6% from the previous quarter; land investment rose sharply in the same period, while the full-year sales forecast depends on an acceleration in the fourth quarter.
Goldman Sachs expects WH Group’s fourth-quarter operating profit to fall 38% year over year and has cut its earnings forecasts for the group over the next three years because of weakness in US hog production and fresh pork. Improving costs in Chinese packaged meat and shareholder returns provide some support.
Frontier models are improving robots’ ability to adapt to new tasks, but high-precision perception, real-time control and data collection continue to constrain commercialization. Goldman Sachs believes robots’ competitive advantages will increasingly shift toward hardware-software integration, with upstream sensing and data collection potentially benefiting earlier.
Emerging-market growth remains above trend, and inflation has risen less than expected. Goldman Sachs believes policy interventions and other growth drivers have cushioned the oil price shock, but net-importing economies still face pressure on growth and external balances if oil prices rise further.
Third-quarter revenue rose 19% year on year, but operating profit fell 53%. Bank of America downgraded the stock from Buy to Neutral and cut its price target from 1.25 million won to 420 thousand won: won appreciation is eroding profits from the Apple business, while a meaningful contribution from AI substrate capacity expansion is not expected until the end of 2028.
In the first quarter of fiscal 2027, New Oriental’s revenue growth was broadly in line with Goldman Sachs’ expectations, but margins at both its core education business and East Buy were below expectations. Goldman raised its revenue forecasts, lowered its margin assumptions and maintained different ratings on the two companies.
After results from Texas Instruments and Lam Research, earnings estimates rose while price-to-earnings ratios fell. Evercore sees further room for AI demand to grow, but rising inventories, peaking growth rates and declining customer cash flow are moving semiconductors into the later stages of the cycle.
Implant cases rose 15% year on year in the third quarter of 2026, but the average price fell 10%, limiting revenue growth to 3.6%. Management lowered its full-year case guidance, and Goldman Sachs subsequently cut its earnings forecasts and target price.
Elite Material and Taiwan Union Technology reported third-quarter core operating profits 6% and 16% above Goldman Sachs’ expectations, respectively. Goldman expects product upgrades and price increases to lift both companies’ fourth-quarter gross margins to about 41%, though their capacity rollout schedules and customer project transitions differ.
The platform links computing demand, green electricity supply and electricity prices, guiding companies to adjust when they run flexible workloads. Nationwide, 6 benchmark projects are operating, while another 8 mega-projects are under construction or being planned.
Guotai Haitong Securities expects Ampire’s net profit attributable to shareholders to fall 74.1% year on year in 2026, before recovering over the following two years as new pressure sensors scale up and the force sensor business expands. The company has delivered several types of force sensors in volume, while the size of the robot market still depends on complete robot shipments.
In the first half of 2026, revenue in China’s machine-tool industry rose 7.6% year on year, while profits grew 110.8%. Orient Securities believes capacity construction for precision components driven by AI computing power and humanoid robots is creating new sources of growth in machine-tool demand.
A quarter-on-quarter improvement in gross margin drove China Rare Earth’s third-quarter net profit growth, but quarterly free cash flow turned negative. Citi maintains its Buy rating, with its valuation view dependent on the rare-earth cycle and policy support.
Datacom optical modules account for a rapidly rising share of revenue. Citi expects the ramp-up of 800G and 1.6T products to raise both shipments and average selling prices, but expansion spending, customer concentration and potential restrictions on component sourcing could affect the realization of that growth.
