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Goldman Sachs: Reduced SJM HOLDINGS Target Price to 3 HKD, first quarter performance is roughly in line with expectations.
Goldman Sachs released a research report stating that SJM HOLDINGS (00880) achieved performance in the first quarter that was generally in line with expectations, with overall EBITDA decreasing by 3% to 0.958 billion yuan, while the market forecast was between 0.945 billion and 1.06 billion yuan. The group noted that the Macau City of Dreams maintained a normal win rate of 3.2%, which will increase its EBITDA by approximately 60 million yuan. Although the outlook for the gaming industry is weak, SJM management remains optimistic that with the further expansion of the Lisboa, its gaming revenue will continue to outperform the market. The bank has lowered the group's EBITDA forecast for the fiscal years 2025 to 2027 by 5%, with the target price reduced from 3.2 HKD to 3 HKD.
Goldman Sachs: Downgraded COSCO SHIP ENGY freight forecast and lowered the Target Price to HKD 8.8.
Goldman Sachs released a Research Report stating that COSCO SHIP ENGY (01138) performed worse than both the bank's and market's expectations in the first quarter of this year, mainly due to the significant decline in transportation costs for Crude Oil Products and the continuous rise in costs. The bank slightly lowered and significantly cut the group's forecasts for Crude Oil Product transportation rates, while raising the forecast for transport volume; it also reduced the net income forecast for 2025 to 2027 by up to 8% and decreased the Target Price from HKD 9.4 to HKD 8.8, maintaining a 'Buy' rating. The report mentioned that the group's stock price has retreated 24% since reaching a high in January and February of this year, reflecting the transportation rates falling short of expectations and the potential issues arising from the placement.
Goldman Sachs: Maintains "Buy" rating for the three major telecom operators, expecting that the decline in cash flow in the first quarter will have a controllable impact.
Goldman Sachs released a Research Report stating that the revenue and net profit growth of Chinese telecommunications stocks in the first quarter has slowed compared to 2024, but this is within the bank's expectations. The performance shows a significant decline in operating cash flow, mainly impacted by a notable increase in accounts receivable, which is related to the shift in telecom companies' business models towards enterprise business (cloud/ICT projects). However, a reduction in capital expenditure and an increase in accounts payable are expected to offset this negative impact and stabilize free cash flow from 2025 to 2026. Moreover, cash flow exhibits a seasonal pattern, with cash recovery from accounts receivable primarily concentrated in the second half of the year. Overall, the bank believes that Chinese telecommunications companies still possess.
JPMorgan: AI tools played an important role during the market turbulence caused by tariffs.
JPMorgan's Asset and Wealth Management CEO, Mary Erdoes, stated that the bank's AI tools have enabled it to boost sales to wealthy clients, even handling a large number of requests from concerned customers during the market crash in April. This largest bank in the USA has been increasing its use of AI alongside its peers. Goldman Sachs is launching a generative AI assistant for its bankers, traders, and asset management, while Morgan Stanley is developing a chatbot for its financial advisors using OpenAI. Last month, tariffs were announced in the USA.
Overview of international financial hotspots last night and this morning _ May 6, 2025 _ Financial news
For more global financial News, please visit 24/7 real-time financial news. Market Close: US stocks closed lower on Monday, ending the 9-day rise of the S&P Index. On May 5, the top 20 trading amounts of US stocks: Skechers USA is about to be (Delisted), with a stock price increase of 24%. On Monday, China Concept Stocks fluctuated; Alibaba rose by 0.64%, while Taiwan Semiconductor fell by 1.61%. US Crude Oil fell by 2%, with OPEC+ June production increase expectations putting pressure. New York gold futures rose over 3%, returning to $3340. European stock markets have seen the longest consecutive rise since 2021, with trade and economic outlook improving. Macroeconomically, US hiring slowed down in April, affected by tariff concerns, and the USA rejected a complete exemption.
Goldman Sachs stated that the performance of large Technology stocks boosts confidence, and the recent pullback is a Buy opportunity for the AI Sector.
A team of analysts at Goldman Sachs stated that the earnings reports released by several large Technology companies involved in the AI field at the end of last month exceeded expectations, indicating that investors have the opportunity to reposition themselves in this Sector after the recent pullback. Over the past two years, AI Concept Stocks have been a hot Sector driving the rise of Large Cap, but it encountered significant resistance in 2025. In January of this year, DeepSeek raised doubts in the market about the necessity of USA companies investing billions of dollars to build AI systems, resulting in a significant blow to chip manufacturers and AI-related Stocks. Recently, the trade war initiated by USA President Trump has caused concerns in the market.
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, Tariffs Exempt Apple, Nvidia: Can Buy Now? Hope this helps a little in navigating the volatility!