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>Kenvue, a global consumer packaged goods company, recently held a second-quarter 2025 earnings call led by Kirk Perry, the Interim CEO, and Amit Banati, the CFO.</li><li>The company is poised at a transitional phase with recent leadership changes and a comprehensive review underway to optimize its brand portfolio and potentially explore strategic alternatives, aiming to unlock shareholder value.</li><li>In the earnings call, several challenges were acknowledged, including a 4.2% decline in organic sales, significantly underperforming against expectations.</li></ul>

Kenvue, a global consumer packaged goods company, recently held a second-quarter 2025 earnings call led by Kirk Perry, the Interim CEO, and Amit Banati, the CFO.The company is poised at a transitional phase with recent leadership changes and a comprehensive review underway to optimize its brand portfolio and potentially explore strategic alternatives, aiming to unlock shareholder value.In the earnings call, several challenges were acknowledged, including a 4.2% decline in organic sales, significantly underperforming against expectations.

Kenvue Pressure Builds As 4.2% Organic Sales Miss Signals Deeper Issues

<ul><li>Kenvue's second quarter of 2025 results highlight both opportunities and challenges, providing a complex landscape for potential investors.</li><li>The company's recent performance, although disappointing, demonstrates the ongoing strategic review and leadership changes that could lead to future improvements.</li><li>The financial results for the quarter showed an organic sales decline of 4.2%, with adjusted operating margins slightly contracting by 10 basis points to 22.7%.</li></ul>

Kenvue's second quarter of 2025 results highlight both opportunities and challenges, providing a complex landscape for potential investors.The company's recent performance, although disappointing, demonstrates the ongoing strategic review and leadership changes that could lead to future improvements.The financial results for the quarter showed an organic sales decline of 4.2%, with adjusted operating margins slightly contracting by 10 basis points to 22.7%.

Kenvue in Crisis: Texas Lawsuit Sends Tylenol Maker’s Stock Tumbling!

<ul><li>Kenvue shares have taken a sharp nosedive after a fresh legal challenge emerged across the Atlantic.</li><li>On October 16, 2025, the U.K. High Court received a lawsuit representing over 3,000 plaintiffs who allege that Johnson & Johnson and Kenvue UK Ltd. knowingly sold asbestos-contaminated baby powder over a span of nearly six decades—from 1965 to 2023.</li><li>The plaintiffs claim the product caused serious illnesses such as ovarian cancer and mesothelioma.</li></ul>

Kenvue shares have taken a sharp nosedive after a fresh legal challenge emerged across the Atlantic.On October 16, 2025, the U.K. High Court received a lawsuit representing over 3,000 plaintiffs who allege that Johnson & Johnson and Kenvue UK Ltd. knowingly sold asbestos-contaminated baby powder over a span of nearly six decades—from 1965 to 2023.The plaintiffs claim the product caused serious illnesses such as ovarian cancer and mesothelioma.

Kenvue Under Fire: Lawsuits, Politics & A Stock In Freefall!

Index Rebalance and Special Situations Coverage, Quiddity Advisors

Anjana Amarasuriya

Index Rebalance and Special Situations Coverage

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The SP 500 index tracks the 500 largest (mostly profitable) US-listed names and is one of the most highly-tracked indices in the world.</li>
<li>A spin-off completes next week, and the new company's entry into the SP 500 is expected to trigger an intra-review deletion.</li>
<li>We expect two ADDs and two DELs at the December 2026 rebalance, and two M&amp;A deals could trigger intra-review ADDs before that.</li>
</ul>


The SP 500 index tracks the 500 largest (mostly profitable) US-listed names and is one of the most highly-tracked indices in the world.
A spin-off completes next week, and the new company's entry into the SP 500 is expected to trigger an intra-review deletion.
We expect two ADDs and two DELs at the December 2026 rebalance, and two M&amp;A deals could trigger intra-review ADDs before that.


Quiddity Leaderboard SP500/600 Dec26 Rebal: Two M&A Deals Pending; One Spin-Off ADD Imminent

<ul>
<li>The SP Select Sector indices are a family of 11 sector-specific indices derived from the SP 500 index based on GICS (Global Industry Classification Standard) classifications.</li>
<li>Intra-Review changes from two M&amp;A deals and a spin-off could trigger Select Sector flows before the December 2026 rebalance.</li>
<li>We expect one-way flows of ~US$7bn across the Select Sector indices, which should grow as the December 2026 rebalance approaches.</li>
</ul>


The SP Select Sector indices are a family of 11 sector-specific indices derived from the SP 500 index based on GICS (Global Industry Classification Standard) classifications.
Intra-Review changes from two M&amp;A deals and a spin-off could trigger Select Sector flows before the December 2026 rebalance.
We expect one-way flows of ~US$7bn across the Select Sector indices, which should grow as the December 2026 rebalance approaches.


Quiddity Leaderboard SP Select Sector Dec26 Rebal: ~US$7bn One-Way Flow, Expected To Grow

United States

Kenvue Inc. operates as a consumer health company. The Company offers a consumer health portfolio in self-care, skin health & beauty, and essential health products. Kenvue serves customers worldwide.

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Kenvue (KVUE US)

Kenvue Pressure Builds As 4.2% Organic Sales Miss Signals Deeper Issues

Kenvue, a global consumer packaged goods company, recently held a second-quarter 2025 earnings call led by Kirk Perry, the Interim CEO, and Amit...

Baptista Research

Kenvue in Crisis: Texas Lawsuit Sends Tylenol Maker’s Stock Tumbling!

Kenvue's second quarter of 2025 results highlight both opportunities and challenges, providing a complex landscape for potential investors. The...

Baptista Research

Kenvue Under Fire: Lawsuits, Politics & A Stock In Freefall!

Kenvue shares have taken a sharp nosedive after a fresh legal challenge emerged across the Atlantic. On October 16, 2025, the U.K. High Court...

Baptista Research

Quiddity Leaderboard SP500/600 Dec26 Rebal: Two M&A Deals Pending; One Spin-Off ADD Imminent

SP DJI could announce the addition of Vylor (VYLR US), the seed business spun off from Corteva (CTVA US), to the SP 500 within this week. Our...

Anjana Amarasuriya

Quiddity Leaderboard SP Select Sector Dec26 Rebal: ~US$7bn One-Way Flow, Expected To Grow

Intra-review changes from two M&A deals and a spin-off could trigger early flows in the Select Sector indices, while the December rebalance one-way...

Anjana Amarasuriya

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