Index Rebalance and Special Situations Coverage, Quiddity Advisors

Anjana Amarasuriya

Index Rebalance and Special Situations Coverage

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The SP 500 index tracks the 500 largest (mostly profitable) US-listed names and is one of the most highly-tracked indices in the world.</li>
<li>We expect 2 changes during the June 2026 index rebal event, with a possible intra-review ADD before the regular rebalance announcement.</li>
<li>SP DJI has launched a public consultation on the Treatment of MegaCap Companies. No impact expected until next year, if adopted.</li>
</ul>


The SP 500 index tracks the 500 largest (mostly profitable) US-listed names and is one of the most highly-tracked indices in the world.
We expect 2 changes during the June 2026 index rebal event, with a possible intra-review ADD before the regular rebalance announcement.
SP DJI has launched a public consultation on the Treatment of MegaCap Companies. No impact expected until next year, if adopted.


Quiddity Leaderboard SP500/600 Jun26 Rebal: Base Date Is Only Two Weeks Away

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>Flex has entered a new phase in its portfolio transition after announcing a definitive agreement to acquire Electrical Power Products, or EP², in an all-cash transaction valued at roughly $1.1 billion, with about $0.1 billion of anticipated tax benefits reducing the effective after-tax value to around $1.0 billion.</li><li>The target brings more than 35 years of experience in engineered-to-order electrical power control and protection systems, including relay panels and modular integrated control buildings for utility, power generation, and industrial customers.</li><li>The timing matters.</li></ul>

Flex has entered a new phase in its portfolio transition after announcing a definitive agreement to acquire Electrical Power Products, or EP², in an all-cash transaction valued at roughly $1.1 billion, with about $0.1 billion of anticipated tax benefits reducing the effective after-tax value to around $1.0 billion.The target brings more than 35 years of experience in engineered-to-order electrical power control and protection systems, including relay panels and modular integrated control buildings for utility, power generation, and industrial customers.The timing matters.

Flex Acquisition Play: A $1 Billion Gamble On The Future Of Power & AI!

<ul><li>Flex, a global leader in design, engineering, and manufacturing services, recently reported its financial results forthe third quarter of fiscal year 2026.</li><li>The company demonstrated robust performance, with revenue of $7.1 billion, representing an 8% year-over-year increase.</li><li>The adjusted operating margin also improved, reaching 6.5%, and adjusted earnings per share (EPS) rose by 13% to $0.87, marking a record performance for the company.</li></ul>

Flex, a global leader in design, engineering, and manufacturing services, recently reported its financial results forthe third quarter of fiscal year 2026.The company demonstrated robust performance, with revenue of $7.1 billion, representing an 8% year-over-year increase.The adjusted operating margin also improved, reaching 6.5%, and adjusted earnings per share (EPS) rose by 13% to $0.87, marking a record performance for the company.

Flex Is Building the Backbone of AI Infrastructure—and the Opportunity Is Massive!

<ul><li>Flex, a global leader in design, engineering, and manufacturing services, recently reported its financial results for the third quarter of fiscal year 2026.</li><li>The company demonstrated robust performance, with revenue of $7.1 billion, representing an 8% year-over-year increase.</li><li>The adjusted operating margin also improved, reaching 6.5%, and adjusted earnings per share (EPS) rose by 13% to $0.87, marking a record performance for the company.</li></ul>

Flex, a global leader in design, engineering, and manufacturing services, recently reported its financial results for the third quarter of fiscal year 2026.The company demonstrated robust performance, with revenue of $7.1 billion, representing an 8% year-over-year increase.The adjusted operating margin also improved, reaching 6.5%, and adjusted earnings per share (EPS) rose by 13% to $0.87, marking a record performance for the company.

<ul><li>Flex Ltd. recently reported its second quarter fiscal 2026 earnings, highlighting both favorable outcomes and areas of concern.</li><li>The company reported a 4% year-over-year increase in revenue, reaching $6.8 billion, solidifying momentum across its business segments.</li><li>Flex Ltd.'s operating margin held steady at an impressive 6%, with an adjusted EPS of $0.79, marking a 23% increase from the previous year.</li></ul>

Flex Ltd. recently reported its second quarter fiscal 2026 earnings, highlighting both favorable outcomes and areas of concern.The company reported a 4% year-over-year increase in revenue, reaching $6.8 billion, solidifying momentum across its business segments.Flex Ltd.'s operating margin held steady at an impressive 6%, with an adjusted EPS of $0.79, marking a 23% increase from the previous year.

Flex Ltd: Medical Devices & Health Solutions Expansion & Critical Growth Catalysts!

United States

Flex Ltd. operates as an electronics manufacturing services company. The Company designs and develops original design manufacturing (ODM) products for aerospace and defense, cloud, digital health, lighting, housing, energy, industrial, and communication industries. Flex serves customers worldwide.

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Flex (FLEX US)

Quiddity Leaderboard SP500/600 Jun26 Rebal: Base Date Is Only Two Weeks Away

One intra-review SP 500 ADD slot in play ahead of the June 2026 rebalance. 2 regular ADDs and 2 DELs expected. Meanwhile, SP DJI's MegaCap...

Anjana Amarasuriya

Flex Acquisition Play: A $1 Billion Gamble On The Future Of Power & AI!

Flex has entered a new phase in its portfolio transition after announcing a definitive agreement to acquire Electrical Power Products, or EP², in...

Baptista Research

Flex Is Building the Backbone of AI Infrastructure—and the Opportunity Is Massive!

Flex, a global leader in design, engineering, and manufacturing services, recently reported its financial results forthe third quarter of fiscal...

Baptista Research

Flex Is Building the Backbone of AI Infrastructure—and the Opportunity Is Massive!

Flex, a global leader in design, engineering, and manufacturing services, recently reported its financial results for the third quarter of fiscal...

Baptista Research

Flex Ltd: Medical Devices & Health Solutions Expansion & Critical Growth Catalysts!

Flex Ltd. recently reported its second quarter fiscal 2026 earnings, highlighting both favorable outcomes and areas of concern. The company...

Baptista Research

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