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>Constituent changes to the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX</a> and capping changes will result in a round-trip trade of US$17.7bn across the Select Sector indices and the S&amp;P500 Equal Weight Index.</li>
<li>There is over US$500m to trade in <a href="https://www.smartkarma.com/entities/broadcom-inc" target="_blank" data-smartkarma-citation="entities:998:1" rel="noopener">Broadcom (AVGO US)</a>, <a href="https://www.smartkarma.com/entities/tesla-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla (TSLA US)</a>, <a href="https://www.smartkarma.com/entities/apollo-global-management-inc" target="_blank" data-smartkarma-citation="entities:28770:1" rel="noopener">Apollo Global Management (APO US)</a>, <a href="https://www.smartkarma.com/entities/amazon-com-inc" target="_blank" data-smartkarma-citation="entities:409:1" rel="noopener">Amazon.com Inc (AMZN US)</a> and <a href="https://www.smartkarma.com/entities/workday-inc-class-a" target="_blank" data-smartkarma-citation="entities:5660:1" rel="noopener">Workday Inc Class A (WDAY US)</a>. </li>
<li>
<a href="https://www.smartkarma.com/entities/broadcom-inc" target="_blank" data-smartkarma-citation="entities:998:1" rel="noopener">Broadcom (AVGO US)</a> swings from a small net buy to a large net sell following the rally in the stock last week.</li>
</ul>


Constituent changes to the S&amp;P 500 INDEX and capping changes will result in a round-trip trade of US$17.7bn across the Select Sector indices and the S&amp;P500 Equal Weight Index.
There is over US$500m to trade in Broadcom (AVGO US), Tesla (TSLA US), Apollo Global Management (APO US), Amazon.com Inc (AMZN US) and Workday Inc Class A (WDAY US). 

Broadcom (AVGO US) swings from a small net buy to a large net sell following the rally in the stock last week.


Select Sector Indices and S&P Equal Weight Rebalance: US$17.7bn Round-Trip Trade Post Capping Cutoff

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>Lowe's Companies delivered a positive result and managed an all-around beat last quarter.</li><li>Despite uncertainties in the macro environment, these investments yielded positive results with favorable comps in the Pro segment and substantial growth of 6.9% in comparable online sales, underscoring the enhancements made in the omnichannel experience.</li><li>Core Pro customers responded well to the expanded national brands, MVP's Pro Rewards program, and improved online tools.</li></ul>

Lowe's Companies delivered a positive result and managed an all-around beat last quarter.Despite uncertainties in the macro environment, these investments yielded positive results with favorable comps in the Pro segment and substantial growth of 6.9% in comparable online sales, underscoring the enhancements made in the omnichannel experience.Core Pro customers responded well to the expanded national brands, MVP's Pro Rewards program, and improved online tools.

Lowe's Companies Inc.: Is The Expansion of Store-in-Store Concept A Possible Game Changer? - Major Drivers

President, Vision Research

Robert C Prather Jr

President

Vision Research

Vision Research was formed in 2004 with the vision of generating the best possible fundamental analysis and investment research for smid cap US equities. In 2008, we broadened our coverage to include mid/large cap US stocks.  After researching a  few ideas outside the US each year for a number of years, we launched a dedicated non-US equity product at the end of 2015.  This was followed by the introduction of a product focused on IPOs in mid-2017.

Fundamental Insight

<ul>
<li>2/3 of sales face secular decline in housing demand/shrinking population and the other 1/3 facing weak housing environment due to rising rates</li>
<li>Competition from private label and weak trends and ratios exist</li>
<li>The valuation does not seem to reflect the risks highlighted</li>
</ul>


2/3 of sales face secular decline in housing demand/shrinking population and the other 1/3 facing weak housing environment due to rising rates
Competition from private label and weak trends and ratios exist
The valuation does not seem to reflect the risks highlighted


Lixil (5938 JP): Levered Business Facing Cyclical & Secular Headwinds & Continued Mkt Share Pressure

<ul><li>Lowe's Companies delivered a positive result and managed an all-around beat in the last quarter.</li><li>Through its MVPs Pro Rewards Program and its expanded assortment of Pro national brands, it continues to build momentum with the Pro.</li><li>Despite the pressures, it is seen that the comparable Pro sales are a bit positive, with broad-based strength in several categories.</li></ul>

Lowe's Companies delivered a positive result and managed an all-around beat in the last quarter.Through its MVPs Pro Rewards Program and its expanded assortment of Pro national brands, it continues to build momentum with the Pro.Despite the pressures, it is seen that the comparable Pro sales are a bit positive, with broad-based strength in several categories.

Lowe's Companies Inc: Launch of Digital MVP Business Tools for Pros & Other Developments

<ul><li>Lowe's Companies delivered a mixed set of results in the fourth quarter.</li><li>Another notable category, Paint, saw strong pro-growth driven by its MVPs Pro Paint Rewards and Pro JobSIGHT delivery.</li><li>Among other updates, Lowe's collaborated with Klein Tools to give Klein Tools a strong presence in the electrical and tool departments of Lowe's.</li></ul>

Lowe's Companies delivered a mixed set of results in the fourth quarter.Another notable category, Paint, saw strong pro-growth driven by its MVPs Pro Paint Rewards and Pro JobSIGHT delivery.Among other updates, Lowe's collaborated with Klein Tools to give Klein Tools a strong presence in the electrical and tool departments of Lowe's.

Lowe's Companies Inc.: Collaboration With Klein Tools & Other Drivers

United States

Lowe's Companies, Inc. is a home improvement retailer that distributes building materials and supplies through stores in the United States. The Company offers a complete line of products and services for home decorating, maintenance, repair, remodeling, and property maintenance.

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Lowe's Companies Inc (LOW US)

Select Sector Indices and S&P Equal Weight Rebalance: US$17.7bn Round-Trip Trade Post Capping Cutoff

Constituent changes to the SnP500 Index and capping changes result in a round-trip trade of US$17.7bn across the Select Sector and the SnP500 Equal...

Brian Freitas

Lowe's Companies Inc.: Is The Expansion of Store-in-Store Concept A Possible Game Changer? - Major Drivers

Lowe's Companies delivered a positive result and managed an all-around beat last quarter. Despite uncertainties in the macro environment, these...

Baptista Research

Lowe's Companies Inc: Launch of Digital MVP Business Tools for Pros & Other Developments

Lowe's Companies delivered a positive result and managed an all-around beat in the last quarter. Through its MVPs Pro Rewards Program and its...

Baptista Research

Lowe's Companies Inc.: Collaboration With Klein Tools & Other Drivers

Lowe's Companies delivered a mixed set of results in the fourth quarter. Another notable category, Paint, saw strong pro-growth driven by its MVPs...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Select Sector Indices and S&P Equal Weight Rebalance: US$17.7bn Round-Trip Trade Post Capping Cutoff

Constituent changes to the SnP500 Index and capping changes result in a round-trip trade of US$17.7bn across the Select Sector and the SnP500 Equal...

Brian Freitas

Lowe's Companies Inc.: Is The Expansion of Store-in-Store Concept A Possible Game Changer? - Major Drivers

Lowe's Companies delivered a positive result and managed an all-around beat last quarter. Despite uncertainties in the macro environment, these...

Baptista Research

Lixil (5938 JP): Levered Business Facing Cyclical & Secular Headwinds & Continued Mkt Share Pressure

Expensive stock with a levered balance sheet, increasing competition, declining cash flow where Free Cash Flow does not cover the dividend, and...

Robert C Prather Jr

Lowe's Companies Inc: Launch of Digital MVP Business Tools for Pros & Other Developments

Lowe's Companies delivered a positive result and managed an all-around beat in the last quarter. Through its MVPs Pro Rewards Program and its...

Baptista Research

Lowe's Companies Inc.: Collaboration With Klein Tools & Other Drivers

Lowe's Companies delivered a mixed set of results in the fourth quarter. Another notable category, Paint, saw strong pro-growth driven by its MVPs...

Baptista Research