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>Pure Storage, now rebranded as Everpure, reported its fourth-quarter and full-year fiscal 2026 results, reflecting notable achievements in revenue growth and strategic initiatives but also facing challenges particularly due to supply chain disruptions and component cost volatility.</li><li>On the positive side, Everpure achieved its first billion-dollar revenue quarter, with Q4 revenues of $1.01 billion representing a 20% year-over-year growth, and full-year fiscal 2026 revenue of $3.7 billion, a 16% increase from the previous year.</li><li>The company recorded a solid operating profit of $226 million in Q4, with an operating margin of 21.3%.</li></ul>

Pure Storage, now rebranded as Everpure, reported its fourth-quarter and full-year fiscal 2026 results, reflecting notable achievements in revenue growth and strategic initiatives but also facing challenges particularly due to supply chain disruptions and component cost volatility.On the positive side, Everpure achieved its first billion-dollar revenue quarter, with Q4 revenues of $1.01 billion representing a 20% year-over-year growth, and full-year fiscal 2026 revenue of $3.7 billion, a 16% increase from the previous year.The company recorded a solid operating profit of $226 million in Q4, with an operating margin of 21.3%.

Pure Storage Is Quietly Winning The Hyperscaler War And Wall Street May Be Missing It!

Event-Driven

<ul>
<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 the main candidate for addition-transition with uncertainty arising from the 'Multiple Share Classes' criterion. Forecasted demand is ~$7bn and ~4 ADV.</li>
<li>
<a href="https://www.smartkarma.com/entities/williams-sonoma-inc" target="_blank" data-smartkarma-citation="entities:11383:1" rel="noopener">Williams Sonoma (WSM US)</a> is one of the top candidates for addition-migration with uncertainty due to the migrations' inconsistent market cap selection pattern. Forecasted demand is $840m and ~2.6 ADV.</li>
<li>
<a href="https://www.smartkarma.com/entities/american-airlines-group-inc" target="_blank" data-smartkarma-citation="entities:3663:1" rel="noopener">American Airlines Group (AAL US)</a> is one of the main candidates for deletion with uncertainty due to price hence ranking fluctuations until cut-off. Forecasted supply is $290m and ~0.8 ADV.</li>
</ul>



Dell Technologies (DELL US) is the main candidate for addition-transition with uncertainty arising from the 'Multiple Share Classes' criterion. Forecasted demand is ~$7bn and ~4 ADV.

Williams Sonoma (WSM US) is one of the top candidates for addition-migration with uncertainty due to the migrations' inconsistent market cap selection pattern. Forecasted demand is $840m and ~2.6 ADV.

American Airlines Group (AAL US) is one of the main candidates for deletion with uncertainty due to price hence ranking fluctuations until cut-off. Forecasted supply is $290m and ~0.8 ADV.


S&P 500 September Forecasts: Saved by the Dell?

<ul><li>Pure Storage's third-quarter fiscal 2026 performance exhibited resilience and adaptability, as seen from an impressive 16% year-over-year revenue growth, reaching $964 million, and a 17% increase in operating profit, amounting to $196 million with an operating margin of 20.3%.</li><li>This evidences robust demand for Pure Storage's offerings, particularly driven by their enterprise and hyperscaler segments.</li><li>Notably, the company surpassed its annual target for hyperscaler shipments ahead of schedule, suggesting strong market traction.</li></ul>

Pure Storage's third-quarter fiscal 2026 performance exhibited resilience and adaptability, as seen from an impressive 16% year-over-year revenue growth, reaching $964 million, and a 17% increase in operating profit, amounting to $196 million with an operating margin of 20.3%.This evidences robust demand for Pure Storage's offerings, particularly driven by their enterprise and hyperscaler segments.Notably, the company surpassed its annual target for hyperscaler shipments ahead of schedule, suggesting strong market traction.

Pure Storage: How DirectFlash Is Powering a New Wave of Hyperscaler Adoption!

<ul><li>Pure Storage, a company specializing in data storage solutions, exhibited commendable performance in the second quarter of fiscal year 2026, surpassing revenue and operating profit projections.</li><li>The revenue for the quarter was $861 million, marking a 13% year-over-year rise, and the operating profit stood at $130 million, translating to an operating margin of 15.1%.</li><li>Significant revenue contributions came from large enterprises, alongside continued momentum in FlashBlade, Cloud Block Store, and Evergreen//One services.</li></ul>

Pure Storage, a company specializing in data storage solutions, exhibited commendable performance in the second quarter of fiscal year 2026, surpassing revenue and operating profit projections.The revenue for the quarter was $861 million, marking a 13% year-over-year rise, and the operating profit stood at $130 million, translating to an operating margin of 15.1%.Significant revenue contributions came from large enterprises, alongside continued momentum in FlashBlade, Cloud Block Store, and Evergreen//One services.

Pure Storage’s All-Flash Advantage: Why Hyperscalers Like Meta Are Betting Big!

United States

Pure Storage, Inc. provides enterprise storage solutions. The Company offers flash enterprise arrays for high performance workloads, including server consolidation, virtualization desktop, database, and cloud computing. Pure Storage serves customers throughout the United States.

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Pure Storage Inc (PSTG 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

Pure Storage Is Quietly Winning The Hyperscaler War And Wall Street May Be Missing It!

Pure Storage, now rebranded as Everpure, reported its fourth-quarter and full-year fiscal 2026 results, reflecting notable achievements in revenue...

Baptista Research

S&P 500 September Forecasts: Saved by the Dell?

Dell Technologies is the biggest candidate for inclusion in the S&P 500 with forecasted demand of ~$7bn and ~4 days of volume. Uncertainty arises...

Dimitris Ioannidis

Pure Storage: How DirectFlash Is Powering a New Wave of Hyperscaler Adoption!

Pure Storage's third-quarter fiscal 2026 performance exhibited resilience and adaptability, as seen from an impressive 16% year-over-year revenue...

Baptista Research

Pure Storage’s All-Flash Advantage: Why Hyperscalers Like Meta Are Betting Big!

Pure Storage, a company specializing in data storage solutions, exhibited commendable performance in the second quarter of fiscal year 2026,...

Baptista Research

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Market Cap (USDm)

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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

Pure Storage Is Quietly Winning The Hyperscaler War And Wall Street May Be Missing It!

Pure Storage, now rebranded as Everpure, reported its fourth-quarter and full-year fiscal 2026 results, reflecting notable achievements in revenue...

Baptista Research

S&P 500 September Forecasts: Saved by the Dell?

​Dell Technologies is the biggest candidate for inclusion in the S&P 500 with forecasted demand of ~$7bn and ~4 days of volume. Uncertainty arises...

Dimitris Ioannidis

Pure Storage: How DirectFlash Is Powering a New Wave of Hyperscaler Adoption!

Pure Storage's third-quarter fiscal 2026 performance exhibited resilience and adaptability, as seen from an impressive 16% year-over-year revenue...

Baptista Research

Pure Storage’s All-Flash Advantage: Why Hyperscalers Like Meta Are Betting Big!

Pure Storage, a company specializing in data storage solutions, exhibited commendable performance in the second quarter of fiscal year 2026,...

Baptista Research

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

Dell Technologies is the biggest candidate for inclusion in the S&P 500 with forecasted demand of ~$7bn and ~4 days of volume. Uncertainty arises...