Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.</li>
<li>In this insight, we take a look at the upcoming constituent changes in the run up to the September 2024 index rebal event.</li>
<li>We expect two regular changes during September. More interestingly, a couple of SP500 members are working on spin-offs which could trigger some high-impact deletions over the next few months.</li>
</ul>


The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.
In this insight, we take a look at the upcoming constituent changes in the run up to the September 2024 index rebal event.
We expect two regular changes during September. More interestingly, a couple of SP500 members are working on spin-offs which could trigger some high-impact deletions over the next few months.


Sep24 S&P500 Index Rebal - Two Changes Expected; $6bn One-Way Flow and Two Spinoffs?

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>SunPower Corporation’s results were a major disappointment as the company failed to meet the revenue expectations as well as earnings expectations of Wall Street.</li><li>This led to a revision of the 2023 guidance, reflecting market conditions, lower operating expenses, reduced platform investment, and a delay in certain projects.</li><li>Adjusted revenue grew by 9%, partly offsetting higher product costs with price increases.</li></ul>

SunPower Corporation’s results were a major disappointment as the company failed to meet the revenue expectations as well as earnings expectations of Wall Street.This led to a revision of the 2023 guidance, reflecting market conditions, lower operating expenses, reduced platform investment, and a delay in certain projects.Adjusted revenue grew by 9%, partly offsetting higher product costs with price increases.

SunPower Corporation: How Strategic Investments Is Redefining Their Market Share! - Major Drivers

<ul><li>SunPower delivered a mixed set of results for the previous quarter with revenues above the analyst consensus estimates.</li><li>Despite challenges like unfavorable weather conditions in California and increased costs, its management remains confident in achieving its financial goals.</li><li>SunPower added many new customers, with revenue experiencing notable growth driven by price increases.</li></ul>

SunPower delivered a mixed set of results for the previous quarter with revenues above the analyst consensus estimates.Despite challenges like unfavorable weather conditions in California and increased costs, its management remains confident in achieving its financial goals.SunPower added many new customers, with revenue experiencing notable growth driven by price increases.

SunPower Corporation: A Story Of Market Expansion and Digital Enhancements! – Key Drivers

Equity Capital Markets

<ul><li>SunPower delivered an all-around beat in the last quarter as the value of the company’s storage and solar systems continues to rise with the rise in utility rates.</li><li>Consumer demand in the quarter continues to be quite strong and it added 23,1000 new customers this quarter which displays a persistent level of robust consumer demand for residential solar, particularly SunPower.</li><li>We provide the stock of SunPower with an ‘Outperform’ rating and a revision in the target price.</li></ul>

SunPower delivered an all-around beat in the last quarter as the value of the company’s storage and solar systems continues to rise with the rise in utility rates.Consumer demand in the quarter continues to be quite strong and it added 23,1000 new customers this quarter which displays a persistent level of robust consumer demand for residential solar, particularly SunPower.We provide the stock of SunPower with an ‘Outperform’ rating and a revision in the target price.

SunPower Corporation: Partnership With General Motors & Other Drivers

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>Key supports that we highlighted in last week's Compass (Sept. 7) held strong, including 3900-3910 on the SPX, $293 on the Nasdaq 100 (QQQ), $177-178 on the Russell 2000 (IWM).</li>
<li>We got the bounce where bulls needed to hold, but these levels could be tested again following this morning's hotter-than-expected CPI report.</li>
<li>As long as the aforementioned supports continue to hold, we continue to believe the lows are likely in for this bear market -- something we noted throughout late-July and August.</li>
</ul>


Key supports that we highlighted in last week's Compass (Sept. 7) held strong, including 3900-3910 on the SPX, $293 on the Nasdaq 100 (QQQ), $177-178 on the Russell 2000 (IWM).
We got the bounce where bulls needed to hold, but these levels could be tested again following this morning's hotter-than-expected CPI report.
As long as the aforementioned supports continue to hold, we continue to believe the lows are likely in for this bear market -- something we noted throughout late-July and August.


Supports to Be Tested Again Following CPI? Stick With Solar Stocks, Buying Manufacturing Names

United States

SunPower Corporation is an integrated solar products and services company that designs, manufactures and markets high-performance solar electric power technologies.

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Sunpower Corp (SPWR US)

Sep24 S&P500 Index Rebal - Two Changes Expected; $6bn One-Way Flow and Two Spinoffs?

The S&P500 index rebal is coming in about 7 weeks. There are about 5 weeks of data left to tally. We expect there are two changes, but there are...

Travis Lundy

SunPower Corporation: A Story Of Market Expansion and Digital Enhancements! – Key Drivers

SunPower delivered a mixed set of results for the previous quarter with revenues above the analyst consensus estimates. Despite challenges like...

Baptista Research

SunPower Corporation: Partnership With General Motors & Other Drivers

SunPower delivered an all-around beat in the last quarter as the value of the company’s storage and solar systems continues to rise with the rise...

Baptista Research

Supports to Be Tested Again Following CPI? Stick With Solar Stocks, Buying Manufacturing Names

Supports discussed in recent weeks have held, including 3900 on $SPX, $293 on $QQQ, and $177-178 on $IWM. These levels could be tested again...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Sep24 S&P500 Index Rebal - Two Changes Expected; $6bn One-Way Flow and Two Spinoffs?

The S&P500 index rebal is coming in about 7 weeks. There are about 5 weeks of data left to tally. We expect there are two changes, but there are...

Travis Lundy

SunPower Corporation: How Strategic Investments Is Redefining Their Market Share! - Major Drivers

SunPower Corporation’s results were a major disappointment as the company failed to meet the revenue expectations as well as earnings expectations...

Baptista Research

SunPower Corporation: A Story Of Market Expansion and Digital Enhancements! – Key Drivers

SunPower delivered a mixed set of results for the previous quarter with revenues above the analyst consensus estimates. Despite challenges like...

Baptista Research

SunPower Corporation: Partnership With General Motors & Other Drivers

SunPower delivered an all-around beat in the last quarter as the value of the company’s storage and solar systems continues to rise with the rise...

Baptista Research

Supports to Be Tested Again Following CPI? Stick With Solar Stocks, Buying Manufacturing Names

Supports discussed in recent weeks have held, including 3900 on $SPX, $293 on $QQQ, and $177-178 on $IWM. These levels could be tested again...

Vermilion Research