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>Lowe's Companies, a prominent player in the home improvement retail sector, recently announced its Q2 2025 earnings results along with its strategic acquisition of Foundation Building Materials (FBM).</li><li>This acquisition plays a pivotal role in advancing Lowe's Total Home strategy by expanding its Pro service offerings and diversifying its revenue streams.</li><li>FBM, a leading distributor of interior building products, complements Lowe's existing operations by enhancing its capabilities in serving larger Pro customers, a market estimated at $250 billion.</li></ul>

Lowe's Companies, a prominent player in the home improvement retail sector, recently announced its Q2 2025 earnings results along with its strategic acquisition of Foundation Building Materials (FBM).This acquisition plays a pivotal role in advancing Lowe's Total Home strategy by expanding its Pro service offerings and diversifying its revenue streams.FBM, a leading distributor of interior building products, complements Lowe's existing operations by enhancing its capabilities in serving larger Pro customers, a market estimated at $250 billion.

Lowe’s AI Revolution: Inside the Bold Tech Integration That Could Power Pro Customer Growth!

<ul><li>Lowe's Companies, Inc. delivered a mixed performance during the first quarter of fiscal 2025, reporting total sales of $20.9 billion and a 1.7% decline in comparable sales, aligning with their expectations.</li><li>The results reflect challenges in the DIY segment, particularly in discretionary spending on larger ticket items, compounded by a slow start to the spring season largely due to adverse weather conditions.</li><li>On the positive side, the company showed strength in Pro sales, reporting mid-single-digit growth, and saw a 6% rise in online sales due to improvements in both traffic and conversion rates.</li></ul>

Lowe's Companies, Inc. delivered a mixed performance during the first quarter of fiscal 2025, reporting total sales of $20.9 billion and a 1.7% decline in comparable sales, aligning with their expectations.The results reflect challenges in the DIY segment, particularly in discretionary spending on larger ticket items, compounded by a slow start to the spring season largely due to adverse weather conditions.On the positive side, the company showed strength in Pro sales, reporting mid-single-digit growth, and saw a 6% rise in online sales due to improvements in both traffic and conversion rates.

Lowe's Companies: Localization Strategy & Space Productivity Improvement to Drive Sales Growth & Market Share In The Targeted Segments!

<ul><li>Lowe's Companies demonstrated a mixed set of results during its fourth-quarter earnings call.</li><li>Positively, the company reported sales of $18.6 billion and a slight increase in comparable sales of 0.2% for the quarter.</li><li>Over the entire 2024 fiscal year, Lowe's generated $83.7 billion in sales, with an adjusted operating margin of 12.3% and earnings per share of $11.99.</li></ul>

Lowe's Companies demonstrated a mixed set of results during its fourth-quarter earnings call.Positively, the company reported sales of $18.6 billion and a slight increase in comparable sales of 0.2% for the quarter.Over the entire 2024 fiscal year, Lowe's generated $83.7 billion in sales, with an adjusted operating margin of 12.3% and earnings per share of $11.99.

Lowe’s Companies: Pro Business & Online Growth As A Strategic Growth Enabler!

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

Event-Driven

<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$17.7bn across the Select Sector indices and the S&amp;P500 Equal Weight Index.</li>
<li>There is over US$500m to trade in <a href="https://www.smartkarma.com/entities/broadcom-inc" target="_blank" data-smartkarma-citation="entities:998:1" rel="noopener">Broadcom (AVGO US)</a>, <a href="https://www.smartkarma.com/entities/tesla-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla (TSLA US)</a>, <a href="https://www.smartkarma.com/entities/apollo-global-management-inc" target="_blank" data-smartkarma-citation="entities:28770:1" rel="noopener">Apollo Global Management (APO US)</a>, <a href="https://www.smartkarma.com/entities/amazon-com-inc" target="_blank" data-smartkarma-citation="entities:409:1" rel="noopener">Amazon.com Inc (AMZN US)</a> and <a href="https://www.smartkarma.com/entities/workday-inc-class-a" target="_blank" data-smartkarma-citation="entities:5660:1" rel="noopener">Workday Inc Class A (WDAY US)</a>. </li>
<li>
<a href="https://www.smartkarma.com/entities/broadcom-inc" target="_blank" data-smartkarma-citation="entities:998:1" rel="noopener">Broadcom (AVGO US)</a> swings from a small net buy to a large net sell following the rally in the stock last week.</li>
</ul>


Constituent changes to the S&amp;P 500 INDEX and capping changes will result in a round-trip trade of US$17.7bn across the Select Sector indices and the S&amp;P500 Equal Weight Index.
There is over US$500m to trade in Broadcom (AVGO US), Tesla (TSLA US), Apollo Global Management (APO US), Amazon.com Inc (AMZN US) and Workday Inc Class A (WDAY US). 

Broadcom (AVGO US) swings from a small net buy to a large net sell following the rally in the stock last week.


Select Sector Indices and S&P Equal Weight Rebalance: US$17.7bn Round-Trip Trade Post Capping Cutoff

<ul><li>Lowe's Companies reported third-quarter sales of $20.2 billion, with comparable sales down 1.1%.</li><li>Despite the overall decline, the company noted strength in Pro and online sales, which were key drivers of performance.</li><li>Pro sales increased with high single-digit positive comps, attributed to investments in the Pro shopping experience.</li></ul>

Lowe's Companies reported third-quarter sales of $20.2 billion, with comparable sales down 1.1%.Despite the overall decline, the company noted strength in Pro and online sales, which were key drivers of performance.Pro sales increased with high single-digit positive comps, attributed to investments in the Pro shopping experience.

Lowe's Companies Inc.: Will Its Diversification of Sourcing & Supply Chain Strategy Be A Potential Game Changer? - Major Drivers

United States

Lowe's Companies, Inc. is a home improvement retailer that distributes building materials and supplies through stores in the United States. The Company offers a complete line of products and services for home decorating, maintenance, repair, remodeling, and property maintenance.

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Lowe's Companies Inc (LOW US)

Lowe’s AI Revolution: Inside the Bold Tech Integration That Could Power Pro Customer Growth!

Lowe's Companies, a prominent player in the home improvement retail sector, recently announced its Q2 2025 earnings results along with its...

Baptista Research

Lowe’s Companies: Pro Business & Online Growth As A Strategic Growth Enabler!

Lowe's Companies demonstrated a mixed set of results during its fourth-quarter earnings call. Positively, the company reported sales of $18.6...

Baptista Research

Select Sector Indices and S&P Equal Weight Rebalance: US$17.7bn Round-Trip Trade Post Capping Cutoff

Constituent changes to the SnP500 Index and capping changes result in a round-trip trade of US$17.7bn across the Select Sector and the SnP500 Equal...

Brian Freitas

Lowe's Companies Inc.: Will Its Diversification of Sourcing & Supply Chain Strategy Be A Potential Game Changer? - Major Drivers

Lowe's Companies reported third-quarter sales of $20.2 billion, with comparable sales down 1.1%. Despite the overall decline, the company noted...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Lowe’s AI Revolution: Inside the Bold Tech Integration That Could Power Pro Customer Growth!

Lowe's Companies, a prominent player in the home improvement retail sector, recently announced its Q2 2025 earnings results along with its...

Baptista Research

Lowe's Companies: Localization Strategy & Space Productivity Improvement to Drive Sales Growth & Market Share In The Targeted Segments!

Lowe's Companies, Inc. delivered a mixed performance during the first quarter of fiscal 2025, reporting total sales of $20.9 billion and a 1.7%...

Baptista Research

Lowe’s Companies: Pro Business & Online Growth As A Strategic Growth Enabler!

Lowe's Companies demonstrated a mixed set of results during its fourth-quarter earnings call. Positively, the company reported sales of $18.6...

Baptista Research

Select Sector Indices and S&P Equal Weight Rebalance: US$17.7bn Round-Trip Trade Post Capping Cutoff

Constituent changes to the SnP500 Index and capping changes result in a round-trip trade of US$17.7bn across the Select Sector and the SnP500 Equal...

Brian Freitas

Lowe's Companies Inc.: Will Its Diversification of Sourcing & Supply Chain Strategy Be A Potential Game Changer? - Major Drivers

Lowe's Companies reported third-quarter sales of $20.2 billion, with comparable sales down 1.1%. Despite the overall decline, the company noted...

Baptista Research