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9 October 2024 | 4:01PM EDT _ Americas Utilities 3Q Preview: Load growth, regulatory, and storm impacts in focus; updating baseline multiple for utilities We update our estimates for select Utilities in our coverage heading into 3Q24 results, and adjust our valuation for the space. We expect conversations around 3Q results to focus on (1) load growth/data center updates, (2) select capital plan updates from companies such as WEC, XEL, and potentially AEP (3) regulatory updates for companies such as PEG, FE, ...

8 October 2024 | 12:03AM EDT Americas Homebuilders & Building Products 3Q24 Earnings Preview: Results to be Led by Company-Specific Efforts as Demand Remains Challenged Near-Term Pressures Persist Despite Decline in Rates: Over the course of 3Q, weak consumer sentiment and broader macro uncertainty weighed on housing activity, in spite of a 78bps decline in the 30-year mortgage rate. Despite this, the stocks in our coverage are up an average of 18% since early July, led by the builders up 29%, vs the S&P 50 ...

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8 October 2024 | 3:53PM EDT _ | --- | --- | |----------------------------------------------------------|-------| | | | | Americas Technology: Hardware - PCs | | | | | | 3Q24 PC industry shipments remains weak; continued | | | optimism on 2025 recovery | | IDC & Canalys released preliminary 3Q24 PC data on 10/8/2024, which pointed to continued weakness in PCs. IDC reported industry shipments of 68.8 mn, which is -2% yoy, sequentially worse relative to +2%/+2% growth in 2Q24/1Q24. Shipments increased 7% qoq, ...

8 October 2024 | 7:54AM HKT | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------|-------|-------------------------------------------------------------------|----------------|----------------------------|------------------------------|-------| | | | | | | | | | | | | COSCO SH ...

8 October 2024 | 2:02AM EDT Executive Summary Matthew Sykes +1(212)902-3668 | matthew.c.sykes@gs.com Goldman Sachs & Co. LLC Evie Koslosky +1(212)357-1694 | e.v.koslosky@gs.com Goldman Sachs & Co. LLC Prashant Kota, M.D. +1(212)902-6412 | prashant.kota@gs.com Goldman Sachs & Co. LLC Jake Allen +1(212)902-6653 | jake.allen@gs.com Goldman Sachs & Co. LLC Will Ortmayer +1(801)744-0681 | will.ortmayer@gs.com Goldman Sachs & Co. LLC Year to date the Life Science Tools sector performed in line with the S&P 500 an ...

8 October 2024 | 11:19PM EDT _ Americas Technology: Semiconductors Reflecting Nearline HDD Strength and NAND Weakness Ahead of 3Q24 EPS; Maintain Neutral on WDC/STX We raise estimates for Seagate and lower estimates for Western Digital (WD) ahead of CY3Q24 earnings, as we reflect sustained strength in Nearline HDD demand (i.e. EBs and pricing), more than offset by weakness in NAND pricing in the case of WD. Accordingly, we increase our STX 12-month price target to $110 (up from $107 prior), while we lower o ...

_ 9 October 2024 | 6:39PM BST The EM Trader China Easing Adds Breadth n China's easing has triggered a broadening in the EM equity rally. The broad EM equity index was held back until the summer amid weak China activity and an underwhelming policy response, coupled with bouts of global macro volatility. With an improving macro cycle led by Fed easing and the much-needed recent coordinated stimulus announcements from China's policymakers, EM equities have staged an impressive rally, with the MSCI EM index up ...

8 October 2024 | 9:32PM HKT | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------|--------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------|----------------|-------------------------------------------------------------------------------------|-------|----------------------------|------------------------------|-------| | | | | | | | | | | | | Bilibili Inc. (BILI) I ...