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.

Index Rebalance

<ul>
<li>Index Committee's discretion decreases the predictability of index changes. Even when a company passes all eligibility criteria and thresholds, it might still not be selected.</li>
<li>Understanding triggers for index changes, types of additions/deletions and selection patterns, narrows down the pool of candidates and increases conviction of forecasts.</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> is currently the main candidate to be added by transition to the S&amp;P 500 in September 2024 Quarterly Rebalance.</li>
</ul>


Index Committee's discretion decreases the predictability of index changes. Even when a company passes all eligibility criteria and thresholds, it might still not be selected.
Understanding triggers for index changes, types of additions/deletions and selection patterns, narrows down the pool of candidates and increases conviction of forecasts.

Dell Technologies (DELL US) is currently the main candidate to be added by transition to the S&amp;P 500 in September 2024 Quarterly Rebalance.


S&P 500 / S&P 1500: Deriving Forecasts & First Prediction for September

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>Lululemon Athletica Inc. recently reported its fourth-quarter and full-year financial results, marking another year of growth, while also spotlighting both achievements and challenges.</li><li>The company reported total revenue for the fourth quarter, excluding the 53rd week, increased by 8% year-over-year, or 9% on a constant currency basis.</li><li>Operating margin expanded by 40 basis points to 28.9%, and earnings per share rose by 16%.</li></ul>

Lululemon Athletica Inc. recently reported its fourth-quarter and full-year financial results, marking another year of growth, while also spotlighting both achievements and challenges.The company reported total revenue for the fourth quarter, excluding the 53rd week, increased by 8% year-over-year, or 9% on a constant currency basis.Operating margin expanded by 40 basis points to 28.9%, and earnings per share rose by 16%.

Lululemon Athletica Faces New Tariff Pressures Through Vietnam

Mostly Borrowed Ideas Deep Dives, MBI Deep Dives

MBI Deep Dives

Mostly Borrowed Ideas Deep Dives

MBI is the abbreviation for “Mostly Borrowed Ideas”. Why “Mostly Borrowed Ideas?” As a generalist, I do not have a background in any particular sector. I enjoy navigating across industries, businesses, and countries to learn, understand, and connect the dots. In any case, most ideas and innovations are incremental in nature. Very few of us are smart enough to come up with truly original or groundbreaking ideas. I am Abdullah Al-Rezwan. I was born and brought up in Bangladesh. I went to University of Dhaka for my undergrad and majored in Finance. After working three and half years in Equity Research (Sell-side) covering Financial Sector in Bangladesh, I left Bangladesh to pursue my MBA in the US. I graduated within top 10% of the class from Cornell University's two-year MBA program and worked on the buy-side following my graduation. During my time at Cornell, I won two stock pitch competitions and also became finalists in four other competitions. I thoroughly enjoyed my stint as a generalist in the US large cap team at Madison Investments and covered a wide range of companies from UnitedHealth to Amazon and Boeing before US immigration reality paused my career in investment management. As my work authorization expired, I moved to Canada in January, 2021. Then in early 2022, I was able to return to the US.

<ul><li>Since its IPO back in 2007, Lululemon always posted double-digit revenue growth every single year.</li><li>While there was plenty of skepticism throughout 2024, they managed to eke out double digit growth last year.</li><li>But 2025 topline guidance of 5-7% implies the era of persistent double digit growth regardless of the economy is likely behind us!</li></ul>

Since its IPO back in 2007, Lululemon always posted double-digit revenue growth every single year.While there was plenty of skepticism throughout 2024, they managed to eke out double digit growth last year.But 2025 topline guidance of 5-7% implies the era of persistent double digit growth regardless of the economy is likely behind us!

Alnylam Pharmaceuticals / Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/alnylam-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:2191:1" rel="noopener">Alnylam Pharmaceuticals (ALNY US)</a>, <a href="https://www.smartkarma.com/entities/monolithic-power-systems-inc" target="_blank" data-smartkarma-citation="entities:2088:1" rel="noopener">Monolithic Power Systems (MPWR US)</a> and <a href="https://www.smartkarma.com/entities/seagate-technology-holdings-pl" target="_blank" data-smartkarma-citation="entities:9129:1" rel="noopener">Seagate Technology Holdings (STX US)</a> are the top 3 addition candidates with ALNY at the top.</li>
<li>
<a href="https://www.smartkarma.com/entities/globalfoundries-inc" target="_blank" data-smartkarma-citation="entities:34513:1" rel="noopener">GLOBALFOUNDRIES (GFS US)</a>, <a href="https://www.smartkarma.com/entities/cdw-corp-de" target="_blank" data-smartkarma-citation="entities:2244:1" rel="noopener">CDW Corp (CDW US)</a> and <a href="https://www.smartkarma.com/entities/biogen-inc" target="_blank" data-smartkarma-citation="entities:972:1" rel="noopener">Biogen (BIIB US)</a> are the top 3 deletion candidates with GFS at the bottom.</li>
<li>Versant (VSNT) and Solstice Advanced Materials (SOLS) are estimated to be deleted following completion of their spinoffs with the earliest one expected on 30 October 2025.</li>
</ul>



Alnylam Pharmaceuticals (ALNY US), Monolithic Power Systems (MPWR US) and Seagate Technology Holdings (STX US) are the top 3 addition candidates with ALNY at the top.

GLOBALFOUNDRIES (GFS US), CDW Corp (CDW US) and Biogen (BIIB US) are the top 3 deletion candidates with GFS at the bottom.
Versant (VSNT) and Solstice Advanced Materials (SOLS) are estimated to be deleted following completion of their spinoffs with the earliest one expected on 30 October 2025.


Nasdaq100 Dec2025 Forecast (Part 2): ALNY at the Top; GFS at the Bottom; Spinoffs Pending

<ul><li>Lululemon Athletica Inc. reported its third-quarter results for fiscal 2024, revealing both strengths and challenges within its business operations.</li><li>The company's revenue grew by 9% (8% in constant currency), reaching $2.4 billion.</li><li>This growth was primarily propelled by substantial gains in international markets, particularly China, Mainland, which saw an impressive increase of 39% (36% in constant currency).</li></ul>

Lululemon Athletica Inc. reported its third-quarter results for fiscal 2024, revealing both strengths and challenges within its business operations.The company's revenue grew by 9% (8% in constant currency), reaching $2.4 billion.This growth was primarily propelled by substantial gains in international markets, particularly China, Mainland, which saw an impressive increase of 39% (36% in constant currency).

Lululemon Athletica Inc.: Will Its International Growth & Market Expansion Help Catapult Its Top-Line Growth? - Major Drivers

United States

lululemon athletica Inc. designs and retails athletic clothing.  The Company produces fitness pants, shorts, tops and jackets for yoga, dance, running, and general fitness. lululemon serves customers throughout the world.

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Lululemon Athletica (LULU US)

S&P 500 / S&P 1500: Deriving Forecasts & First Prediction for September

S&P Index Committee's discretion reduces predictability of index changes. Identifying patterns and types of changes, narrows down the addition...

Dimitris Ioannidis

Lululemon Athletica Faces New Tariff Pressures Through Vietnam

Lululemon Athletica Inc. recently reported its fourth-quarter and full-year financial results, marking another year of growth, while also...

Baptista Research

Lululemon 4Q'24 Update

Since its IPO back in 2007, Lululemon always posted double-digit revenue growth every single year. While there was plenty of skepticism throughout...

MBI Deep Dives

Nasdaq100 Dec2025 Forecast (Part 2): ALNY at the Top; GFS at the Bottom; Spinoffs Pending

SOLS was deleted from the index at the close of 6 Nov following Honeywell’s spinoff. VSNT is still expected to be removed but Comcast’s spinoff has...

Dimitris Ioannidis

Lululemon Athletica Inc.: Will Its International Growth & Market Expansion Help Catapult Its Top-Line Growth? - Major Drivers

Lululemon Athletica Inc. reported its third-quarter results for fiscal 2024, revealing both strengths and challenges within its business...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

S&P 500 / S&P 1500: Deriving Forecasts & First Prediction for September

S&P ​Index Committee's discretion reduces predictability of index changes. Identifying patterns and types of changes, narrows down the addition...

Dimitris Ioannidis

Lululemon Athletica Faces New Tariff Pressures Through Vietnam

Lululemon Athletica Inc. recently reported its fourth-quarter and full-year financial results, marking another year of growth, while also...

Baptista Research

Lululemon 4Q'24 Update

Since its IPO back in 2007, Lululemon always posted double-digit revenue growth every single year. While there was plenty of skepticism throughout...

MBI Deep Dives

Nasdaq100 Dec2025 Forecast (Part 2): ALNY at the Top; GFS at the Bottom; Spinoffs Pending

SOLS was deleted from the index at the close of 6 Nov following Honeywell’s spinoff. VSNT is still expected to be removed but Comcast’s spinoff has...

Dimitris Ioannidis

Lululemon Athletica Inc.: Will Its International Growth & Market Expansion Help Catapult Its Top-Line Growth? - Major Drivers

Lululemon Athletica Inc. reported its third-quarter results for fiscal 2024, revealing both strengths and challenges within its business...

Baptista Research

S&P Index Committee's discretion reduces predictability of index changes. Identifying patterns and types of changes, narrows down the addition...