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>The main forecasted additions are <a href="https://www.smartkarma.com/entities/siemens-energy-ag" target="_blank" data-smartkarma-citation="entities:35843:1" rel="noopener">Siemens Energy AG (ENR GR)</a> and <a href="https://www.smartkarma.com/entities/deutsche-bank-ag-40d2d02f-a52f-4d36-a86f-79c59c4f0f17" target="_blank" data-smartkarma-citation="entities:526:1" rel="noopener">Deutsche Bank (DBK GR)</a> as they are both surpassing the entry rank.</li>
<li>The main forecasted deletions are <a href="https://www.smartkarma.com/entities/stellantis-nv-847415d2-edbe-4b97-b9c9-bece87ed6f72" target="_blank" data-smartkarma-citation="entities:27920:1" rel="noopener">Stellantis NV (STLAM IM)</a> and <a href="https://www.smartkarma.com/entities/nokia-oyj" target="_blank" data-smartkarma-citation="entities:21754:1" rel="noopener">Nokia OYJ (NOKIA FH)</a> as they are both below the exit rank.</li>
<li>
<a href="https://www.smartkarma.com/entities/pernod-ricard-sa" target="_blank" data-smartkarma-citation="entities:21533:1" rel="noopener">Pernod Ricard Sa (RI FP)</a> and <a href="https://www.smartkarma.com/entities/volkswagen-ag-2754ab9c-fd60-43d7-a087-b4ce4465a0eb" target="_blank" data-smartkarma-citation="entities:734:1" rel="noopener">Volkswagen (Pref) (VOW3 GR)</a> are near the exit threshold and can potentially be replaced by <a href="https://www.smartkarma.com/entities/e-on-se" target="_blank" data-smartkarma-citation="entities:21616:1" rel="noopener">E.ON (EOAN GR)</a> and <a href="https://www.smartkarma.com/entities/engie-sa" target="_blank" data-smartkarma-citation="entities:21449:1" rel="noopener">Engie SA (ENGI FP)</a>. </li>
</ul>


The main forecasted additions are Siemens Energy AG (ENR GR) and Deutsche Bank (DBK GR) as they are both surpassing the entry rank.
The main forecasted deletions are Stellantis NV (STLAM IM) and Nokia OYJ (NOKIA FH) as they are both below the exit rank.

Pernod Ricard Sa (RI FP) and Volkswagen (Pref) (VOW3 GR) are near the exit threshold and can potentially be replaced by E.ON (EOAN GR) and Engie SA (ENGI FP). 


EURO STOXX50 September 2025 Forecast: ENR & DBK Set to Join, STLAM & NOKIA to Exit

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>Siemens Energy's second-quarter performance for fiscal year 2025 reflects a robust operational execution across all key business areas, contributing to an upward revision in the company's full-year guidance.</li><li>On the positive side, the company achieved record-high order intake and revenue levels, suggesting strong market demand, particularly in gas services and grid technologies.</li><li>With a book-to-bill ratio of 1.45, the order backlog has reached a new peak of EUR 133 billion.</li></ul>

Siemens Energy's second-quarter performance for fiscal year 2025 reflects a robust operational execution across all key business areas, contributing to an upward revision in the company's full-year guidance.On the positive side, the company achieved record-high order intake and revenue levels, suggesting strong market demand, particularly in gas services and grid technologies.With a book-to-bill ratio of 1.45, the order backlog has reached a new peak of EUR 133 billion.

Siemens Energy: Initiation of Coverage- Grid Profits

Japan Specialist

Mark Chadwick

Mitsubishi Heavy Industries / Equity Bottom-Up

<ul>
<li>MHI benefits from two long-term supercycles—AI-driven power generation and global defense rearmament—with a recent pullback offering an appealing re-entry point. </li>
<li>A global gas-turbine supercycle is boosting orders, pricing power, and margins as demand from hyperscalers and utilities exceeds manufacturing capacity. </li>
<li>Markets have yet to fully price in structurally higher earnings and valuations driven by AI-linked power demand and persistent turbine supply constraints.</li>
</ul>


MHI benefits from two long-term supercycles—AI-driven power generation and global defense rearmament—with a recent pullback offering an appealing re-entry point. 
A global gas-turbine supercycle is boosting orders, pricing power, and margins as demand from hyperscalers and utilities exceeds manufacturing capacity. 
Markets have yet to fully price in structurally higher earnings and valuations driven by AI-linked power demand and persistent turbine supply constraints.


MHI (7011): AI Power Demand and Gas-Turbine Supercycle Accelerate

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.</li>
<li>Our bullish near-term outlook will remain in place as long as the 5+ month uptrend continues on ACWI-US. So far, the latest pullback is testing the uptrend -- buy/stay long.</li>
<li>We are buying the test of 7-month base support in Europe (EURO STOXX 50). China's Shanghai Composite points to a second chance breakout attempt above 1.5-month resistance -- buy/stay long</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.
Our bullish near-term outlook will remain in place as long as the 5+ month uptrend continues on ACWI-US. So far, the latest pullback is testing the uptrend -- buy/stay long.
We are buying the test of 7-month base support in Europe (EURO STOXX 50). China's Shanghai Composite points to a second chance breakout attempt above 1.5-month resistance -- buy/stay long


5+ Month Uptrend Support Holding on MSCI ACWI (ACWI-US); China Second Chance Breakout Likely

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Siemens Energy: Siemens Energy Ltd (SEL) delivered a muted quarter with revenue/EBITDA/APAT of INR 17.8/3.4/2.6bn, miss on our estimates by -12.1/-21.4/-19.4%</li><li>Revenue and EBITDA were impacted by weaker execution which we believe will pick up from FY26 as T&amp;D OB is strong and once there is significant execution, operating leverage will kick in on better margin mix</li><li>SEL received new orders worth INR 32.9bn (+94% YoY) on the back of strong demand both in domestic as well as export market, which led to an order intake of INR 107.6bn, as of 9MFY25</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Siemens Energy: Siemens Energy Ltd (SEL) delivered a muted quarter with revenue/EBITDA/APAT of INR 17.8/3.4/2.6bn, miss on our estimates by -12.1/-21.4/-19.4%Revenue and EBITDA were impacted by weaker execution which we believe will pick up from FY26 as T&amp;D OB is strong and once there is significant execution, operating leverage will kick in on better margin mixSEL received new orders worth INR 32.9bn (+94% YoY) on the back of strong demand both in domestic as well as export market, which led to an order intake of INR 107.6bn, as of 9MFY25Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Siemens Energy, Shree Cement, ABB India, Sundaram Finance...

Germany

Siemens Energy AG operates as a renewable energy company. The Company offers power generation and transmission, technical consultancy, and operation and maintenance services. Siemens Energy serves customers worldwide.

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Siemens Energy AG (ENR GR)

EURO STOXX50 September 2025 Forecast: ENR & DBK Set to Join, STLAM & NOKIA to Exit

ENR and DBK are poised to join EURO STOXX50, while STLA and NOKIA are expected to exit. RI and VOW3 face potential removal, with EOAN and ENGI...

Dimitris Ioannidis

Siemens Energy: Initiation of Coverage- Grid Profits

Siemens Energy's second-quarter performance for fiscal year 2025 reflects a robust operational execution across all key business areas,...

Baptista Research

MHI (7011): AI Power Demand and Gas-Turbine Supercycle Accelerate

MHI benefits from long-term supercycles in AI-driven power generation and global defense rearmament, with a recent pullback providing a good re...

Mark Chadwick

5+ Month Uptrend Support Holding on MSCI ACWI (ACWI-US); China Second Chance Breakout Likely

5+ Month Uptrend Support Holding on MSCI $ACWI; Bullish Outlook Intact; China Second Chance Breakout Likely on Shanghai Composite. Buying the test...

Vermilion Research

HSIE Results Daily: Siemens Energy, Shree Cement, ABB India, Sundaram Finance...

Siemens Energy: Siemens Energy Ltd (SEL) delivered a muted quarter with revenue/EBITDA/APAT of INR 17.8/3.4/2.6bn, miss on our estimates by -12.1/...

HDFC Securities

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EURO STOXX50 September 2025 Forecast: ENR & DBK Set to Join, STLAM & NOKIA to Exit

ENR and DBK are poised to join EURO STOXX50, while STLA and NOKIA are expected to exit. RI and VOW3 face potential removal, with EOAN and ENGI...

Dimitris Ioannidis

Siemens Energy: Initiation of Coverage- Grid Profits

Siemens Energy's second-quarter performance for fiscal year 2025 reflects a robust operational execution across all key business areas,...

Baptista Research

MHI (7011): AI Power Demand and Gas-Turbine Supercycle Accelerate

​MHI benefits from long-term supercycles in AI-driven power generation and global defense rearmament, with a recent pullback providing a good re...

Mark Chadwick

5+ Month Uptrend Support Holding on MSCI ACWI (ACWI-US); China Second Chance Breakout Likely

5+ Month Uptrend Support Holding on MSCI $ACWI; Bullish Outlook Intact; China Second Chance Breakout Likely on Shanghai Composite. Buying the test...

Vermilion Research

HSIE Results Daily: Siemens Energy, Shree Cement, ABB India, Sundaram Finance...

Siemens Energy: Siemens Energy Ltd (SEL) delivered a muted quarter with revenue/EBITDA/APAT of INR 17.8/3.4/2.6bn, miss on our estimates by -12.1/...

HDFC Securities

MHI benefits from long-term supercycles in AI-driven power generation and global defense rearmament, with a recent pullback providing a good re...