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

Event-Driven

<ul>
<li>There are quite a few changes for stocks across the <a href="https://www.smartkarma.com/entities/s-p-500" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 (SPX INDEX)</a>, MidCap 400 Index and SmallCap 600 Index that will result in a one-way trade of US$30bn.</li>
<li>There are adds/deletes that have over 5 days of ADV to trade from passive funds, plus many stocks that have over +/-1 day of ADV from other changes.</li>
<li>The largest impact of passive buying will be on <a href="https://www.smartkarma.com/entities/keurig-dr-pepper-inc" target="_blank" data-smartkarma-citation="entities:15411:1" rel="noopener">Keurig Dr Pepper Inc (KDP US)</a>, <a href="https://www.smartkarma.com/entities/on-semiconductor-corp" target="_blank" data-smartkarma-citation="entities:2729:1" rel="noopener">On Semiconductor (ON US)</a> and <a href="https://www.smartkarma.com/entities/vici-properties-inc" target="_blank" data-smartkarma-citation="entities:28786:1" rel="noopener">VICI Properties Inc (VICI US)</a>. </li>
</ul>


There are quite a few changes for stocks across the S&amp;P 500 (SPX INDEX), MidCap 400 Index and SmallCap 600 Index that will result in a one-way trade of US$30bn.
There are adds/deletes that have over 5 days of ADV to trade from passive funds, plus many stocks that have over +/-1 day of ADV from other changes.
The largest impact of passive buying will be on Keurig Dr Pepper Inc (KDP US), On Semiconductor (ON US) and VICI Properties Inc (VICI US). 


S&P500 Index Rebalance: One-Way Trade of US$30bn

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.

Credit

<ul><li>While Oracle’s business is fundamentally strong, its revenue growth was been significantly slower than its tech peers.</li><li>In 2021 as well, the company continued with its relatively slow, high-single digits growth trajectory.</li><li>The company’s organic growth has improved since the time the management began their cloud transition and the total cloud revenues have been growing well (c.26% in the last quarter) and have crossed the $11 billion annual threshold.</li></ul>

While Oracle’s business is fundamentally strong, its revenue growth was been significantly slower than its tech peers.In 2021 as well, the company continued with its relatively slow, high-single digits growth trajectory.The company’s organic growth has improved since the time the management began their cloud transition and the total cloud revenues have been growing well (c.26% in the last quarter) and have crossed the $11 billion annual threshold.

Oracle Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

Equity Capital Markets

<ul><li>Oracle continued with its relatively slow, high-single digits growth trajectory.</li><li>Oracle’s total cloud revenues have been growing well (c.26% in the last quarter) and have crossed the $11 billion annual threshold.</li><li>Cerner’s offerings have a strong position in the healthcare domain and it is to be seen how this is going to help Oracle.</li></ul>

Oracle continued with its relatively slow, high-single digits growth trajectory.Oracle’s total cloud revenues have been growing well (c.26% in the last quarter) and have crossed the $11 billion annual threshold.Cerner’s offerings have a strong position in the healthcare domain and it is to be seen how this is going to help Oracle.

Oracle Corporation: Financial & Price Forecasts

Salesforce.Com Inc / Equity Capital Markets

<ul><li>Both, Oracle and Salesforce have an overlapping business within the CRM space.</li><li>Oracle is considered as a legacy tech player making a mark with its ERP systems whereas Salesforce is more of a specialist CRM player with integrations into multiple ERPs including that of Oracle.</li><li>We also provide the financial forecasts of both companies and carry out a comparative discounted cash flow (DCF) valuation in order to determine which of the two players could generate higher returns in the years to come, based on our estimates.</li></ul>

Both, Oracle and Salesforce have an overlapping business within the CRM space.Oracle is considered as a legacy tech player making a mark with its ERP systems whereas Salesforce is more of a specialist CRM player with integrations into multiple ERPs including that of Oracle.We also provide the financial forecasts of both companies and carry out a comparative discounted cash flow (DCF) valuation in order to determine which of the two players could generate higher returns in the years to come, based on our estimates.

Oracle vs. Salesforce - Which Cloud Stock Is More Financially Sound? 02/22

<ul><li>Oracle reported another quarter of decent revenue growth as the fastest-growing parts of the business continue to become a larger percentage of its business.</li><li>We remain neutral on Oracle and maintain our 'Hold' rating on the stock with a revised target price.</li><li>In this report, we have carried out reasonable forecasts of the annualized income statement and cash flows and carried out a DCF valuation of the company using its Weighted Average Cost of Capital (WACC) to determine a forecasted share price.</li></ul>

Oracle reported another quarter of decent revenue growth as the fastest-growing parts of the business continue to become a larger percentage of its business.We remain neutral on Oracle and maintain our 'Hold' rating on the stock with a revised target price.In this report, we have carried out reasonable forecasts of the annualized income statement and cash flows and carried out a DCF valuation of the company using its Weighted Average Cost of Capital (WACC) to determine a forecasted share price.

United States

VMware, Inc. provides virtualization solutions from the desktop to the data center. The Company's solution products addresses a range of IT problems, which includes cost and operational inefficiencies, business continuity, software lifecycle management and desktop management.

Electronic Arts Inc. develops, publishes, and distributes branded interactive entertainment software worldwide for video game consoles, personal computers, handheld game players, and cellular handsets. The Company also provides online game-related services.

ServiceNow, Inc. provides enterprise information technology (IT) management software. The Company designs, develops, and produces prepackaged computer software, cloud services, and IT service management platform. ServiceNow serves customers throughout the United States.

Check Point Software Technologies Ltd. develops, markets and supports a range of software and hardware products and services for information technology (IT) security and offers its customers a network and gateway security solutions, data and endpoint security solutions and management solutions.

Fair Isaac Corporation provides analytics, including predictive modeling, decision analysis, intelligence management, decision management systems, and consulting services.  The Company helps companies in countries around the world acquire customers more efficiently, increase customer value, reduce fraud, lower operating expenses, and enter new markets more profitably.

Synopsys, Inc. supplies electronic design automation solutions to the global electronics market.  The Company provides design technologies to creators of advanced integrated circuits, electronic systems, and systems on a chip. Synopsys also provides consulting services and support to its customers to streamline the overall design process and accelerate time to market.

Activision Blizzard, Inc. publishes, develops, and distributes interactive entertainment software and peripheral products. The Company's products cover diverse game categories, including action/adventure, action sports, racing, role playing, simulation, first-person action, music-based gaming and strategy.

Workday, Inc. provides enterprise cloud-based applications. The Company offers human capital, spend, and financial management, as well as payroll, initiatives and higher education solutions. Workday serves the finance, healthcare, manufacturing, education, and technology industries worldwide.

HubSpot, Inc. provides a cloud-based marketing and sales software platform. The Company offers integrated applications that helps in lead generation and social marketing.

Fortinet Inc. provides network security solutions. The Company offers network security appliances and related software, and subscription services. Fortinet systems integrate the industry's broadest suite of security technologies, including firewall, VPN, antivirus, intrusion prevention (IPS), Web filtering, antispam, and traffic shaping.

Nintendo Co., Ltd. globally develops, manufactures and sells home-use video game hardware and software in home entertainment business.  The company also produces home-game products including cards.

Nexon Co., Ltd. mainly develops and services, online games for PC and mobile devices. The company also offers consulting services related to online-games. Nexon operates in Japan.

Dassault Systemes operates as a software company. The develops and offers 3Dexperience platform to create innovative new products and services using virtual experiences. Dassault Systemes serves aerospace, construction, business services, consumer packaged goods, high-tech, life science, health care, marine, energy, and industrial equipment industries worldwide.

WiseTech Global Pty Ltd provides various technology and information technology management solutions. The Company offers cloud based various technology platforms, market specific software and logistics technology solutions, such as edienterprise, a platform supply chain logistics management system, software-as-a-service, and clinical management software. 

Constellation Software Inc is a software holding company.  The Company acquires mission-critical, vertical market software companies, and helps them to grow.

Spotify Technology S.A. provides music streaming services. The Company offers commercial free music and ad-supported services to subscribers. Spotify Technology serves clients worldwide.

Dassault Systemes is a technology company. The company provides software applications services designed to support client company's innovation processes. The company's line of business includes provision of 3D design software, 3D digital mock up and product lifecycle Management. Dassault Systemes also provides several software brands.

Xero Limited offers an online accounting system.  The software features bank transaction importing, a cashbook, a general ledger, invoicing, accounts receivable, accounts payable, financial reporting, and management of expense claims.

CAPCOM CO., LTD. develops consumer video game software.  The Company also develops, manufactures, markets, and leases arcade game machines.  Capcom also operates amusement facilities.

International Games System Co., Ltd. plans, designs, develops, manufactures, and markets software and hardware for arcade games, PC games, and Internet on-line games.

Oracle Corporation supplies software for enterprise information management. The Company offers databases and relational servers, application development and decision support tools, and enterprise business applications. Oracle's software runs on network computers, personal digital assistants, set-top devices, PCs, workstations, minicomputers, mainframes, and massively parallel computers.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Oracle Corp (ORCL US)

S&P500 Index Rebalance: One-Way Trade of US$30bn

There are 3 changes for the S&P500, plus more changes for the MidCap and SmallCap indices. We estimate a one-way trade of US$30bn across the...

Brian Freitas

Oracle Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

While Oracle’s business is fundamentally strong, its revenue growth was been significantly slower than its tech peers. In 2021 as well, the...

Baptista Research

Oracle Corporation: Financial & Price Forecasts

Oracle continued with its relatively slow, high-single digits growth trajectory. Oracle’s total cloud revenues have been growing well (c.26% in...

Baptista Research

Oracle vs. Salesforce - Which Cloud Stock Is More Financially Sound? 02/22

Both, Oracle and Salesforce have an overlapping business within the CRM space. Oracle is considered as a legacy tech player making a mark with its...

Baptista Research

Oracle Corporation - Investment Thesis

Oracle reported another quarter of decent revenue growth as the fastest-growing parts of the business continue to become a larger percentage of...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)