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>Carnival Corporation plc recently released its Q1 2024 earnings.</li><li>The company's CEO, Josh Weinstein, and CFO, David Bernstein, detailed its financial performance.</li><li>Despite recent disruptions caused by an event at the Francis Scott Key Bridge, which is expected to have a less than $10 million full-year impact, the company reported a strong first quarter.</li></ul>

Carnival Corporation plc recently released its Q1 2024 earnings.The company's CEO, Josh Weinstein, and CFO, David Bernstein, detailed its financial performance.Despite recent disruptions caused by an event at the Francis Scott Key Bridge, which is expected to have a less than $10 million full-year impact, the company reported a strong first quarter.

Carnival Corporation & plc: Are Its Brand Strengthening Efforts Paying Off? - Major Drivers

<ul><li>Carnival Corporation's latest earnings suggest an optimistic outlook for the company as it reports setting records in all four quarters of 2023, with revenues, booking levels, and customer deposits seeing an all-time high.</li><li>Encouragingly, both North American and European brand occupancy levels exceeded 101% in Q4, and per diems for these brands showed significant increases over 2019.</li><li>The company’s performance enabled it to surpass high cost inflation over the past four years, delivering per unit Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) that outpaced 2019 levels when excluding fuel and currency fluctuations.</li></ul>

Carnival Corporation's latest earnings suggest an optimistic outlook for the company as it reports setting records in all four quarters of 2023, with revenues, booking levels, and customer deposits seeing an all-time high.Encouragingly, both North American and European brand occupancy levels exceeded 101% in Q4, and per diems for these brands showed significant increases over 2019.The company’s performance enabled it to surpass high cost inflation over the past four years, delivering per unit Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) that outpaced 2019 levels when excluding fuel and currency fluctuations.

Carnival Corporation: Are its deleveraging and refinancing efforts successful? - Key Drivers

Next Generation Financial Data Tools, Calcbench

Calcbench

Next Generation Financial Data Tools

Founded in 2011, based in New York and Cambridge, MA, Calcbench is a financial data platform designed for detailed fundamental research. Created by former analysts and supported by a team of financial experts with serious credentials in Finance, Accounting, and Applied Mathematics, Calcbench helps analysts looking to go a level deeper become more productive and accurate in their financial analysis. With Calcbench, analysts can systematically access all the data (numbers and text) in financial statements, including the details hidden within the footnotes.

Forensic Accounting

<ul><li>Lots of financial analysts and other Calcbench users might be wishing they could sail away on a tropical cruise as we enter the holiday slow season, so perhaps it’s a good time to visit Carnival Corp. ($CCL) and the company’s latest financial performance.  </li><li>Carnival <a href="https://www.calcbench.com/query/footnotes?fp_state=list&amp;pc_rangeOption=Single%20Period&amp;pc_year=2023&amp;pc_period=4&amp;pc_periodType=Quarterly&amp;pc_useFiscalPeriod=True&amp;pg_classificationMethod=tickers&amp;pg_tickers=CCL&amp;doc_BlobID=2196642&amp;doc_footnoteType=270&amp;doc_searchingBy=singleCompany&amp;doc_selectedDisclosure=BlobID-2196642" target="_blank" rel="noopener">filed its latest quarterly (and fiscal year-end) earnings release</a> on Thursday, and top-line numbers looked pretty good for a company still recovering from the pandemic’s apocalyptic effects four years ago.</li><li>Quarterly revenue jumped 40.6 percent from the year-ago period, to $5.4 billion; annual revenue soared 77.5 percent to $21.6 billion. </li></ul>

Lots of financial analysts and other Calcbench users might be wishing they could sail away on a tropical cruise as we enter the holiday slow season, so perhaps it’s a good time to visit Carnival Corp. ($CCL) and the company’s latest financial performance.  Carnival filed its latest quarterly (and fiscal year-end) earnings release on Thursday, and top-line numbers looked pretty good for a company still recovering from the pandemic’s apocalyptic effects four years ago.Quarterly revenue jumped 40.6 percent from the year-ago period, to $5.4 billion; annual revenue soared 77.5 percent to $21.6 billion. 

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>Since 11/21/23 Compass we have discussed weekly that even a minor 2-5% pullback is far from a guarantee, considering "breakaway gaps" and what appeared to be an ongoing "lockout rally"</li>
<li>All we got was a 1% peak to trough decline in the S&amp;P 500, while the Nasdaq 100 (QQQ) pulled back 2.9% (though left the 11/14/23 gap unfilled).</li>
<li>Now, SPX and QQQ are breaking out yet again after a multi-week consolidation period, including SPX breaking above 2-year resistance at 4600-4607. This is what a strong market looks like.</li>
</ul>


Since 11/21/23 Compass we have discussed weekly that even a minor 2-5% pullback is far from a guarantee, considering "breakaway gaps" and what appeared to be an ongoing "lockout rally"
All we got was a 1% peak to trough decline in the S&amp;P 500, while the Nasdaq 100 (QQQ) pulled back 2.9% (though left the 11/14/23 gap unfilled).
Now, SPX and QQQ are breaking out yet again after a multi-week consolidation period, including SPX breaking above 2-year resistance at 4600-4607. This is what a strong market looks like.


Lockout Rally Continues; Breakouts Piling Up; SPX Breakout Above 2-Yr Resistance at 4600-4607

<ul><li>Carnival Corporation & plc delivered an all-around beat in the previous quarter, firmly establishing its position as a leader in the industry.</li><li>The company's net income surpassed an impressive billion, while EBITDA exceeded billion.</li><li>Additionally, Carnival exceeded its revenue, adjusted EBITDA, and adjusted net income guidance for the quarter, demonstrating the strength of its operations.</li></ul>

Carnival Corporation & plc delivered an all-around beat in the previous quarter, firmly establishing its position as a leader in the industry.The company's net income surpassed an impressive billion, while EBITDA exceeded billion.Additionally, Carnival exceeded its revenue, adjusted EBITDA, and adjusted net income guidance for the quarter, demonstrating the strength of its operations.

Carnival Corporation: How Strong Demand is Driving Success Across North America and Europe! - Major Drivers

United States

Carnival Corporation owns and operates cruise ships offering cruises to all major vacation destinations including North America, the United Kingdom, Germany, Southern  Europe, South America and Asia/Pacific. The Company, through a subsidiary also owns and operates hotels and lodges.  Dually-listed company with CCL LN.

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Carnival Corp (CCL US)

Carnival Corporation & plc: Are Its Brand Strengthening Efforts Paying Off? - Major Drivers

Carnival Corporation plc recently released its Q1 2024 earnings. The company's CEO, Josh Weinstein, and CFO, David Bernstein, detailed its...

Baptista Research

Carnival Corporation: Are its deleveraging and refinancing efforts successful? - Key Drivers

Carnival Corporation's latest earnings suggest an optimistic outlook for the company as it reports setting records in all four quarters of 2023,...

Baptista Research

Carnival Corp’s Per Passenger Revenue

Lots of financial analysts and other Calcbench users might be wishing they could sail away on a tropical cruise as we enter the holiday slow...

Calcbench

Lockout Rally Continues; Breakouts Piling Up; SPX Breakout Above 2-Yr Resistance at 4600-4607

Lockout Rally Continues; Breakouts Piling Up; $SPX Breakout Above 2-Yr Resistance at 4600-4607, $COMP Breakout Above 14,400. This is what a strong...

Vermilion Research

Carnival Corporation: How Strong Demand is Driving Success Across North America and Europe! - Major Drivers

Carnival Corporation & plc delivered an all-around beat in the previous quarter, firmly establishing its position as a leader in the...

Baptista Research

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