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

Interpublic Group Of Companies / Equity Bottom-Up

<ul><li>Interpublic Group delivered its second quarter 2025 results amidst ongoing strategic transformation and an impending acquisition by Omnicom.</li><li>The company's financial performance presented a mixed picture, with several positives and areas of concern.</li><li>On the revenue front, Interpublic Group reported an organic decrease of 3.5% for the quarter, in line with expectations but reflecting ongoing headwinds from previous account losses.</li></ul>

Interpublic Group delivered its second quarter 2025 results amidst ongoing strategic transformation and an impending acquisition by Omnicom.The company's financial performance presented a mixed picture, with several positives and areas of concern.On the revenue front, Interpublic Group reported an organic decrease of 3.5% for the quarter, in line with expectations but reflecting ongoing headwinds from previous account losses.

The Interpublic Group (IPG): An Insight Into Its Recent Agentic Systems for Commerce Expansion & Key Growth Enablers!

US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/crh-plc-054117b2-cd70-470a-9efc-8f6fab2c83ec" target="_blank" data-smartkarma-citation="entities:28655:1" rel="noopener">CRH (CRH US)</a> and <a href="https://www.smartkarma.com/entities/comfort-systems-usa-inc" target="_blank" data-smartkarma-citation="entities:6730:1" rel="noopener">Comfort Systems USA (FIX US)</a> are the main candidates for addition due to consistently high eligibility scores.</li>
<li>
<a href="https://www.smartkarma.com/entities/pure-storage-inc" target="_blank" data-smartkarma-citation="entities:27421:1" rel="noopener">Pure Storage Inc (PSTG US)</a> and <a href="https://www.smartkarma.com/entities/solstice-advanced-materials" target="_blank" data-smartkarma-citation="entities:45953:1" rel="noopener">Solstice Advanced Materials (SOLS US)</a> face reduced conviction due to sector balance and turnover.</li>
<li>
<a href="https://www.smartkarma.com/entities/vertiv-holdings-co" target="_blank" data-smartkarma-citation="entities:33140:1" rel="noopener">Vertiv Holdings Co (VRT US)</a> has a higher probability of inclusion following the acquisition of <a href="https://www.smartkarma.com/entities/kellogg-co" target="_blank" data-smartkarma-citation="entities:16090:1" rel="noopener">Kellogg Co (K US)</a> which is still pending.</li>
</ul>



CRH (CRH US) and Comfort Systems USA (FIX US) are the main candidates for addition due to consistently high eligibility scores.

Pure Storage Inc (PSTG US) and Solstice Advanced Materials (SOLS US) face reduced conviction due to sector balance and turnover.

Vertiv Holdings Co (VRT US) has a higher probability of inclusion following the acquisition of Kellogg Co (K US) which is still pending.


S&P500 December 2025 Final Forecast: FIX & CRH Leading the Pack

<ul><li>Interpublic Group's (IPG) recent earnings detailed the company's financial and operational performance for the first quarter of 2025, illustrating a mixed yet strategically potent landscape.</li><li>With an organic revenue decrease of 3.6%, this was in line with IPG’s expectations for the quarter.</li><li>The company attributed this decline to adverse impacts from past account losses, which primarily affected the U.S., Europe, and Asia Pacific regions.</li></ul>

Interpublic Group's (IPG) recent earnings detailed the company's financial and operational performance for the first quarter of 2025, illustrating a mixed yet strategically potent landscape.With an organic revenue decrease of 3.6%, this was in line with IPG’s expectations for the quarter.The company attributed this decline to adverse impacts from past account losses, which primarily affected the U.S., Europe, and Asia Pacific regions.

The Interpublic Group of Companies (IPG): Solid Merger Synergies With Omnicom But These Are The 4 BIGGEST Roadblocks In Its Path!

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Interactive Brokers Group, Inc / Index Rebalance

<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 2025 index rebal event.</li>
<li>We expect two regular changes in September 2025 - maybe $10bn a side. There are also a couple of live M&amp;A events which are likely to trigger intra-review index changes.</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 2025 index rebal event.
We expect two regular changes in September 2025 - maybe $10bn a side. There are also a couple of live M&amp;A events which are likely to trigger intra-review index changes.


[Quiddity Index] S&P500/400/600 Sep25 Rebal: Two Possible Changes, But One Iffy

Alnylam Pharmaceuticals / Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/alnylam-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:2191:1" rel="noopener">Alnylam Pharmaceuticals (ALNY US)</a> just became eligible for S&amp;P500 following positive earnings released on 30 October 2025.</li>
<li>The company's market cap and other eligibility metrics are estimated to place it among the top 5 addition candidates for S&amp;P500 with a higher chance of inclusion in 2026.</li>
<li>Top 3 addition candidates for S&amp;P500 are <a href="https://www.smartkarma.com/entities/crh-plc-054117b2-cd70-470a-9efc-8f6fab2c83ec" target="_blank" data-smartkarma-citation="entities:28655:1" rel="noopener">CRH</a>, <a href="https://www.smartkarma.com/entities/comfort-systems-usa-inc" target="_blank" data-smartkarma-citation="entities:6730:1" rel="noopener">FIX</a> and <a href="https://www.smartkarma.com/entities/pure-storage-inc" target="_blank" data-smartkarma-citation="entities:27421:1" rel="noopener">PSTG</a> with the next inclusion expected by the end of November following the Omnicom-Interpublic $13bn acquisition.</li>
</ul>



Alnylam Pharmaceuticals (ALNY US) just became eligible for S&amp;P500 following positive earnings released on 30 October 2025.
The company's market cap and other eligibility metrics are estimated to place it among the top 5 addition candidates for S&amp;P500 with a higher chance of inclusion in 2026.
Top 3 addition candidates for S&amp;P500 are CRH, FIX and PSTG with the next inclusion expected by the end of November following the Omnicom-Interpublic $13bn acquisition.


Alnylam Pharmaceuticals (ALNY US): On Track for S&P500 Inclusion Following Positive Earnings

United States

The Interpublic Group of Companies, Inc. is an organization of advertising agencies and marketing service companies.  The Company operates globally in the sectors of advertising, independent media buying, direct marketing, healthcare communications, interactive consulting services, marketing research, promotions, experiential marketing, public relations, and sports marketing.

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Interpublic Group Of Companies (IPG US)

The Interpublic Group (IPG): An Insight Into Its Recent Agentic Systems for Commerce Expansion & Key Growth Enablers!

Interpublic Group delivered its second quarter 2025 results amidst ongoing strategic transformation and an impending acquisition by Omnicom. The...

Baptista Research

S&P500 December 2025 Final Forecast: FIX & CRH Leading the Pack

CRH and FIX are top candidates for addition in December 2025, while PSTG and SOLS face reduced conviction. VRT has a higher chance of inclusion...

Dimitris Ioannidis

The Interpublic Group of Companies (IPG): Solid Merger Synergies With Omnicom But These Are The 4 BIGGEST Roadblocks In Its Path!

Interpublic Group's (IPG) recent earnings detailed the company's financial and operational performance for the first quarter of 2025, illustrating...

Baptista Research

[Quiddity Index] S&P500/400/600 Sep25 Rebal: Two Possible Changes, But One Iffy

We expect IBKR and possibly APP to join the S&P500 in September. We expect two deletes. MSTR has moved to second place BUT it has issues which...

Travis Lundy

Alnylam Pharmaceuticals (ALNY US): On Track for S&P500 Inclusion Following Positive Earnings

After several extensions, Omnicom and IPG have just confirmed that the European Commission has granted antitrust approval for the acquisition,...

Dimitris Ioannidis

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Interpublic Group (IPG): An Insight Into Its Recent Agentic Systems for Commerce Expansion & Key Growth Enablers!

Interpublic Group delivered its second quarter 2025 results amidst ongoing strategic transformation and an impending acquisition by Omnicom. The...

Baptista Research

S&P500 December 2025 Final Forecast: FIX & CRH Leading the Pack

​CRH and FIX are top candidates for addition in December 2025, while PSTG and SOLS face reduced conviction. VRT has a higher chance of inclusion...

Dimitris Ioannidis

The Interpublic Group of Companies (IPG): Solid Merger Synergies With Omnicom But These Are The 4 BIGGEST Roadblocks In Its Path!

Interpublic Group's (IPG) recent earnings detailed the company's financial and operational performance for the first quarter of 2025, illustrating...

Baptista Research

[Quiddity Index] S&P500/400/600 Sep25 Rebal: Two Possible Changes, But One Iffy

We expect IBKR and possibly APP to join the S&P500 in September. We expect two deletes. MSTR has moved to second place BUT it has issues which...

Travis Lundy

Alnylam Pharmaceuticals (ALNY US): On Track for S&P500 Inclusion Following Positive Earnings

After several extensions, Omnicom and IPG have just confirmed that the European Commission has granted antitrust approval for the acquisition,...

Dimitris Ioannidis

CRH and FIX are top candidates for addition in December 2025, while PSTG and SOLS face reduced conviction. VRT has a higher chance of inclusion...