Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>There are 3 changes for the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX</a>, 8 changes for the S&amp;P Midcap400 Index and 15 changes for the S&amp;P SmallCap600 Index at the September rebalance.</li>
<li>
<a href="https://www.smartkarma.com/entities/dell-technologies-inc" target="_blank" data-smartkarma-citation="entities:32189:1" rel="noopener">Dell Technologies (DELL US)</a> and <a href="https://www.smartkarma.com/entities/palantir-technologies-inc" target="_blank" data-smartkarma-citation="entities:27728:1" rel="noopener">Palantir Technologies (PLTR US)</a> were finally added to the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a> and there is huge size to trade in the stocks.</li>
<li>There will also be big buying in <a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple (AAPL US)</a> following a float increase driven by <a href="https://www.smartkarma.com/entities/berkshire-hathaway-inc-cl-a" target="_blank" data-smartkarma-citation="entities:1044:1" rel="noopener">Berkshire Hathaway Inc Cl A (BRK/A US)</a> selling last quarter.</li>
</ul>


There are 3 changes for the S&amp;P 500 INDEX, 8 changes for the S&amp;P Midcap400 Index and 15 changes for the S&amp;P SmallCap600 Index at the September rebalance.

Dell Technologies (DELL US) and Palantir Technologies (PLTR US) were finally added to the S&amp;P 500 INDEX (SPX INDEX) and there is huge size to trade in the stocks.
There will also be big buying in Apple (AAPL US) following a float increase driven by Berkshire Hathaway Inc Cl A (BRK/A US) selling last quarter.


S&P500/400/600 Index Rebalance: Dell, Palantir Make It (Finally!); Apple Upweight

US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Event-Driven

<ul>
<li>S&amp;P MidCap 400 additions by transition require market cap, float cap, sector balance, liquidity and earnings as parameters for inclusion.</li>
<li>The highest combined score from the parameters is given to <a href="https://www.smartkarma.com/entities/carvana-co" target="_blank" data-smartkarma-citation="entities:26471:1" rel="noopener">CVNA</a>, <a href="https://www.smartkarma.com/entities/robinhood-markets-inc" target="_blank" data-smartkarma-citation="entities:33532:1" rel="noopener">HOOD</a>, <a href="https://www.smartkarma.com/entities/lpl-financial-holdings-inc" target="_blank" data-smartkarma-citation="entities:16363:1" rel="noopener">LPLA</a> and <a href="https://www.smartkarma.com/entities/entegris-inc" target="_blank" data-smartkarma-citation="entities:12493:1" rel="noopener">ENTG</a> which makes them acceptable candidates for addition. </li>
<li>
<a href="https://www.smartkarma.com/entities/ensign-group-inc-the" target="_blank" data-smartkarma-citation="entities:9297:1" rel="noopener">Ensign Group (ENSG US)</a> and <a href="https://www.smartkarma.com/entities/mueller-industries-inc" target="_blank" data-smartkarma-citation="entities:18247:1" rel="noopener">Mueller Industries (MLI US)</a> have the highest probability of being added out of the migrations. Market cap of migration candidates is estimated to be insufficient.</li>
</ul>


S&amp;P MidCap 400 additions by transition require market cap, float cap, sector balance, liquidity and earnings as parameters for inclusion.
The highest combined score from the parameters is given to CVNA, HOOD, LPLA and ENTG which makes them acceptable candidates for addition. 

Ensign Group (ENSG US) and Mueller Industries (MLI US) have the highest probability of being added out of the migrations. Market cap of migration candidates is estimated to be insufficient.


S&P MidCap 400 September 2024 Forecasts: Highest Score to the HOOD, CVNA, LPLA, ENTG, ENSG and MLI

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Fabrinet concluded the fiscal year 2024 on a strong note with record revenue and earnings per share, reflecting robust execution across its business segments.</li><li>For the fourth quarter, the company posted revenue of $753 million, exceeding its guidance and marking a 15% year-over-year increase and a 3% increase sequentially.</li><li>Non GAAP earnings per share for the quarter came in at $2.41, also surpassing the projected range.</li></ul>

Fabrinet concluded the fiscal year 2024 on a strong note with record revenue and earnings per share, reflecting robust execution across its business segments.For the fourth quarter, the company posted revenue of $753 million, exceeding its guidance and marking a 15% year-over-year increase and a 3% increase sequentially.Non GAAP earnings per share for the quarter came in at $2.41, also surpassing the projected range.

Fabrinet (FN): A Bear's Perspective! - Major Drivers

<ul><li>Fabrinet Q3 of Fiscal Year 2024 reflects a robust performance exceeding its own forecasts with a notable increase in revenue and earnings per share (EPS).</li><li>The company reported a record revenue of $731.5 million, representing a 10% year-over-year growth and a 3% sequential increase from the previous quarter.</li><li>Non-GAAP EPS was also impressive at $2.39, marking a significant rise from previous periods and exceeding the guidance provided by the company.</li></ul>

Fabrinet Q3 of Fiscal Year 2024 reflects a robust performance exceeding its own forecasts with a notable increase in revenue and earnings per share (EPS).The company reported a record revenue of $731.5 million, representing a 10% year-over-year growth and a 3% sequential increase from the previous quarter.Non-GAAP EPS was also impressive at $2.39, marking a significant rise from previous periods and exceeding the guidance provided by the company.

Fabrinet: Why We Are Pessimistic Despite The Rapid Growth in Datacom Driven by AI Applications! - Major Drivers

<ul><li>Fabrinet's recent earnings included a new record set for second quarter revenue and EPS due to rapid growth in datacom, driven specifically by next-gen AI interconnect, with revenue at $712.7 million, an increase of 7% from the previous year and 4% from the first quarter.</li><li>However, telecom revenue remained impacted by inventory absorption in the ecosystem – a possible note of concern.</li><li>The company expects telecom revenue to slightly increase in the third quarter as newer optical communication technologies, like extended reach pluggable optics, have seen increasing demand.</li></ul>

Fabrinet's recent earnings included a new record set for second quarter revenue and EPS due to rapid growth in datacom, driven specifically by next-gen AI interconnect, with revenue at $712.7 million, an increase of 7% from the previous year and 4% from the first quarter.However, telecom revenue remained impacted by inventory absorption in the ecosystem – a possible note of concern.The company expects telecom revenue to slightly increase in the third quarter as newer optical communication technologies, like extended reach pluggable optics, have seen increasing demand.

Fabrinet - Fabrinet: A Tale Of Rapid Growth in Datacom Driven by AI Applications! - Major Drivers

Thailand

Fabrinet offers outsourced process engineering and manufacturing services.  The Company contracts to manufacture optical communications, automotive, industrial, and imaging components, sub-assemblies, and modules for its original equipment manufacturer customers.

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Fabrinet (FN US)

S&P500/400/600 Index Rebalance: Dell, Palantir Make It (Finally!); Apple Upweight

There are 3 changes for the SnP500, 8 for the SnP400 and 15 for the SnP600 Index. Dell and Palantir have finally been added. There is huge size to...

Brian Freitas

S&P MidCap 400 September 2024 Forecasts: Highest Score to the HOOD, CVNA, LPLA, ENTG, ENSG and MLI

Robinhood (HOOD), Entegris (ENTG) and LPL Financial Holdings (LPLA) are amongst the highest scoring addition candidates based on mcap, fcap,...

Dimitris Ioannidis

Fabrinet (FN): A Bear's Perspective! - Major Drivers

Fabrinet concluded the fiscal year 2024 on a strong note with record revenue and earnings per share, reflecting robust execution across its...

Baptista Research

Fabrinet: Why We Are Pessimistic Despite The Rapid Growth in Datacom Driven by AI Applications! - Major Drivers

Fabrinet Q3 of Fiscal Year 2024 reflects a robust performance exceeding its own forecasts with a notable increase in revenue and earnings per...

Baptista Research

Fabrinet - Fabrinet: A Tale Of Rapid Growth in Datacom Driven by AI Applications! - Major Drivers

Fabrinet's recent earnings included a new record set for second quarter revenue and EPS due to rapid growth in datacom, driven specifically by...

Baptista Research

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