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

Celanese Corp Series A / Equity Bottom-Up

<ul><li>Celanese Corporation's recent earnings report presents a nuanced financial outlook with a mix of positive indicators and continuing challenges.</li><li>The company has demonstrated strategic allocations toward cost reductions and portfolio streamlining, while managing to offset some macroeconomic challenges.</li><li>On the positive side, Celanese has been proactive about reducing operational costs and adjusting its production models in response to market conditions.</li></ul>

Celanese Corporation's recent earnings report presents a nuanced financial outlook with a mix of positive indicators and continuing challenges.The company has demonstrated strategic allocations toward cost reductions and portfolio streamlining, while managing to offset some macroeconomic challenges.On the positive side, Celanese has been proactive about reducing operational costs and adjusting its production models in response to market conditions.

Celanese Corporation: High Impact Programs in Engineered Materials As A Vital Tool For Growth!

<ul><li>Celanese Corporation recently concluded its Q4 2024 earnings call, led by CEO Scott Richardson and CFO Chuck Kyrish.</li><li>The company has been taking proactive measures to enhance performance amidst industry challenges.</li><li>The leadership's focus has been on cash generation, cost reduction, and strategic divestitures, as reflected in the company’s actions over the past quarters.</li></ul>

Celanese Corporation recently concluded its Q4 2024 earnings call, led by CEO Scott Richardson and CFO Chuck Kyrish.The company has been taking proactive measures to enhance performance amidst industry challenges.The leadership's focus has been on cash generation, cost reduction, and strategic divestitures, as reflected in the company’s actions over the past quarters.

Celanese's Strategic Shake-Up: New Board, New Markets, New Era of Dominance?

<ul><li>Celanese Corporation's third-quarter 2024 performance was notably impacted by challenging macroeconomic conditions, leading to results that fell short of expectations.</li><li>Despite efforts to sustain value creation, the company faced persistent headwinds that necessitated a strategic shift, including the significant decision to temporarily reduce its quarterly dividend starting from the first quarter of 2025.</li><li>This move, while carefully considered, is intended to support the company's deleveraging efforts amidst ongoing economic pressures.</li></ul>

Celanese Corporation's third-quarter 2024 performance was notably impacted by challenging macroeconomic conditions, leading to results that fell short of expectations.Despite efforts to sustain value creation, the company faced persistent headwinds that necessitated a strategic shift, including the significant decision to temporarily reduce its quarterly dividend starting from the first quarter of 2025.This move, while carefully considered, is intended to support the company's deleveraging efforts amidst ongoing economic pressures.

Celanese Corporation: Will Its Cost Optimization & Synergy Realization Be A Potential Game Changer? - Major Drivers

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

Index Rebalance

<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$15.5bn across the Select Sector indices and the S&amp;P500 Equal Weight Index.</li>
<li>The Select Sector index trackers and S&amp;P500 Equal Weight trackers will need to buy the adds 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;P500 INDEX</a> and sell the deletes, further increasing flow for the stocks.</li>
<li>The <a href="https://www.smartkarma.com/entities/vaneck-vectors-semiconductor" target="_blank" data-smartkarma-citation="entities:32807:1" rel="noopener">VanEck Vectors Semiconductor (SMH US)</a> ETF will be selling <a href="https://www.smartkarma.com/entities/broadcom-inc" target="_blank" data-smartkarma-citation="entities:998:1" rel="noopener">Broadcom (AVGO US)</a> at the same time as the Select Sector and S&amp;P500 Equal Weight Index trackers.</li>
</ul>


Constituent changes to the S&amp;P 500 INDEX and capping changes will result in a round-trip trade of US$15.5bn across the Select Sector indices and the S&amp;P500 Equal Weight Index.
The Select Sector index trackers and S&amp;P500 Equal Weight trackers will need to buy the adds to the S&amp;P500 INDEX and sell the deletes, further increasing flow for the stocks.
The VanEck Vectors Semiconductor (SMH US) ETF will be selling Broadcom (AVGO US) at the same time as the Select Sector and S&amp;P500 Equal Weight Index trackers.


Select Sector Indices and S&P Equal Weight Rebalance: US$15.5bn Flow Post Capping

<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;P500 INDEX</a> and capping changes will result in a round-trip trade of US$16.3bn across the Select Sector indices and the S&amp;P500 Equal Weight Index.</li>
<li>The Select Sector index trackers and S&amp;P500 Equal Weight trackers will need to buy the adds 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;P500 INDEX</a> and sell the deletes, further increasing flow for the stocks.</li>
<li>The flows will change over the next week as stock prices move around, and final capping is done after the close on 14 March.</li>
</ul>


Constituent changes to the S&amp;P500 INDEX and capping changes will result in a round-trip trade of US$16.3bn across the Select Sector indices and the S&amp;P500 Equal Weight Index.
The Select Sector index trackers and S&amp;P500 Equal Weight trackers will need to buy the adds to the S&amp;P500 INDEX and sell the deletes, further increasing flow for the stocks.
The flows will change over the next week as stock prices move around, and final capping is done after the close on 14 March.


Select Sector Indices and S&P Equal Weight Rebalance: US$16.3bn Trade; Big Impact for EXE, TKO

United States

Celanese Corporation is a global integrated producer of chemicals and advanced materials. The Company's products include acetyl, acetate, vinyl emulsion, and engineered polymers. Celanese Corp's operations are primarily located in North America, Europe and Asia.

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Celanese Corp Series A (CE US)

Celanese Corporation: High Impact Programs in Engineered Materials As A Vital Tool For Growth!

Celanese Corporation's recent earnings report presents a nuanced financial outlook with a mix of positive indicators and continuing...

Baptista Research

Celanese's Strategic Shake-Up: New Board, New Markets, New Era of Dominance?

Celanese Corporation recently concluded its Q4 2024 earnings call, led by CEO Scott Richardson and CFO Chuck Kyrish. The company has been taking...

Baptista Research

Celanese Corporation: Will Its Cost Optimization & Synergy Realization Be A Potential Game Changer? - Major Drivers

Celanese Corporation's third-quarter 2024 performance was notably impacted by challenging macroeconomic conditions, leading to results that fell...

Baptista Research

Select Sector Indices and S&P Equal Weight Rebalance: US$15.5bn Flow Post Capping

Constituent changes to the S&P 500 Index and capping changes will result in a round-trip trade of US$15.45bn across the Select Sector indices and...

Brian Freitas

Select Sector Indices and S&P Equal Weight Rebalance: US$16.3bn Trade; Big Impact for EXE, TKO

Constituent changes to the S&P500 and capping changes result in a round-trip trade of US$16.3bn for the Select Sector. ECE, DASH, AMZN, TKO, TSLA,...

Brian Freitas

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