The company raised its full-year guidance excluding the impact of the UK sale and plans to increase rents in 2027; Citi believes lost earnings from the RV asset sale will be offset by better performance and buybacks, with market expectations for next year broadly stable.
Higher memory prices and a greater share of high-value products drove a 38% quarter-on-quarter increase in SK hynix’s third-quarter operating profit. Citi raised its earnings forecasts for the fourth quarter and the following two years, while the company announced an annual shareholder return plan of approximately 100 trillion won.
In the third quarter of 2026, Corning’s optical communications revenue rose 44% year over year, helping overall revenue and earnings exceed market expectations; solar expansion fell behind schedule, and demand in the glass business was also soft. Citi maintained its Buy rating and lowered its price target from $220 to $200.
Citi estimates that CECONY’s return on equity in its next regulatory reset could rise from 9.4% to about 9.7%, adding approximately 3% to earnings per share growth. The reset is still about two years away, however, and the final outcome depends on regulatory negotiations and the formula’s parameters.
Citi expects Coherent’s September-quarter results to be broadly in line with guidance, while the ramp in 1.6T optical modules will drive December-quarter revenue and earnings per share above market expectations. Capacity expansion, yields and competition will determine the extent of margin improvement.
The phase III T-pam trial met its primary endpoint, but the progression-free survival benefit was limited and the incidence of interstitial lung disease was relatively high. Citi believes previously lowered expectations have softened the impact of the results on BioNTech, while also watching the endometrial cancer opportunity and other oncology programs.
Tesla, Figure AI and others are stepping up real-world data collection and model training; Zhenghai Magnetic's related orders for a globally renowned humanoid robot customer have entered an orderly mass-production phase.
The ChiNext Index rose more than 3%, while turnover on the two mainland exchanges increased by 167.5 billion yuan from the previous trading day. The robotics theme drove a broader spread of first-time limit-up stocks, but follow-through in high-priced stocks was weak. The September rebound ended after volume contracted, making sustained turnover the key question this time.
Google search and overall operating profit fell short of expectations. Its cloud business exceeded market consensus but did not meet the higher buy-side threshold; Microsoft Azure grew 48%, with both revenue and operating margin above guidance.
ServiceNow’s contract growth guidance and Fortinet’s product growth failed to meet optimistic investors’ thresholds; eBay raised its full-year transaction volume outlook, while KLA’s revenue guidance for the quarter ending in December exceeded market consensus.
Alphabet’s third-quarter revenue rose 25% year over year, and its cloud business grew 103%; search usage accelerated while advertising growth slowed, and heavy capital spending and TPU inventory buildup turned free cash flow negative.
The low comparison base created by a restatement of last year’s results failed to prevent a revenue decline; sales cash receipts and liabilities associated with returned inventory show that channel pressure persists. Bernstein lowered its earnings forecasts and target price, while saying buybacks could provide short-term support.
Bernstein believes a recovery in Chinese consumption and adjustments to leather goods prices could drive an industry improvement, but AI and deglobalization may squeeze middle-class demand over the longer term. The growth gap between jewelry and handbags could also narrow as brands adjust their pricing.
Third-quarter revenue and core operating profit both fell short of market consensus, while net profit attributable to shareholders exceeded expectations mainly because of non-recurring gains. The company maintained its full-year growth guidance, implying a significant jump in fourth-quarter revenue from the third quarter.
Fiscal 2026 fourth-quarter revenue and earnings both exceeded Visible Alpha consensus estimates, although some buy-side investors had expected a larger beat. Bernstein placed greater emphasis on growth in orders and backlog while lowering its earnings-per-share forecasts for fiscal 2027 and 2028.
In the third quarter of 2026, industrial robot sales rose 13% year on year and fell 10% quarter on quarter. Domestic brands’ overall share declined from 60% in the previous quarter to 56%; in the industrial automation market, OEM growth offset a contraction in the project market.
Record personal loan originations in the third quarter of 2026 pushed SoFi’s revenue and earnings above expectations. Citi is optimistic about the expansion of the capital-light loan platform while lowering its assumptions for financial services profitability and technology business growth.
Xinbao's third-quarter revenue rose 1% year over year, while net profit fell 71%, below Goldman Sachs' expectations. Goldman expects growth in both domestic and export sales to remain weak in the fourth quarter and has lowered its earnings forecasts and price target.
Zijin Mining’s mined copper output fell year on year in the first three quarters, while mined gold output also missed expectations. Citi raised its cost assumptions and lowered its earnings forecasts, but remains optimistic about growth in copper, gold and lithium production over the next three years.
Weak demand weighed on third-quarter results, while an improved product mix failed to fully offset cost and currency pressures. The company is turning to price increases, expense optimization and overseas brand expansion; Goldman Sachs has lowered its earnings forecasts for the next three years.
