Investing.com - Goldman Sachs has added five companies to its Director's Cut list while removing five others, the firm announced Thursday.

The firm added Amazon (NASDAQ: AMZN), Burlington Stores (NYSE: BURL), Huntington Ingalls (NYSE: HII), Johnson Controls (NYSE: JCI), and Occidental Petroleum (NYSE: OXY) to the list. The additions reflect changes in the firm's portfolio recommendations across multiple sectors.

Goldman Sachs removed Air Products and Chemicals (NYSE: APD), ConocoPhillips (NYSE: COP), Golar LNG (NASDAQ: GLNG), Loar Holdings (NYSE: LOAR), and Tyson Foods (NYSE: TSN) from its conviction list. The firm did not disclose specific reasons for the removals in its announcement.

The firm said it provided brief summaries of the newly added companies. Goldman Sachs also included more detailed analysis of the changes along with market commentary in its report.

The conviction list update also featured a review of list performance and earnings catalysts, according to the firm's announcement.