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>Macy's, Inc.’s fourth quarter 2023 earnings showed a mixed set of results.</li><li>The company saw positive developments throughout 2023, including improving operating metrics and higher-than expected gross margins, mainly driven by effective merchandising and a clear demonstration of value.</li><li>These outcomes reflect the resilience and enthusiasm of the Macy's workforce, which underpinned their recent performance.</li></ul>

Macy's, Inc.’s fourth quarter 2023 earnings showed a mixed set of results.The company saw positive developments throughout 2023, including improving operating metrics and higher-than expected gross margins, mainly driven by effective merchandising and a clear demonstration of value.These outcomes reflect the resilience and enthusiasm of the Macy's workforce, which underpinned their recent performance.

Macy's Inc.: Are The Recent Store Closures A Big Warning Sign For Investors? - Major Drivers

<ul><li>Macy's, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings.</li><li>Sales, gross margin, and SG&A rates exceeded projections, benefiting from lower interest expenses and a lower-than-anticipated tax rate.</li><li>Noteworthy additions included Nike in 75 stores and online, along with UGG Home in 200 stores and online, both exhibiting promising starts.</li></ul>

Macy's, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings.Sales, gross margin, and SG&A rates exceeded projections, benefiting from lower interest expenses and a lower-than-anticipated tax rate.Noteworthy additions included Nike in 75 stores and online, along with UGG Home in 200 stores and online, both exhibiting promising starts.

Macy's Inc.: Interesting Steps Towards Gross Margin Management & Inventory Control! - Major Drivers

<ul><li>Macy's delivered a positive result and managed an all-around beat last quarter, with notable achievements in net sales, gross margin rate, and SG&A rate.</li><li>These outcomes were primarily driven by better-than-expected sales, gross margin results, and SG&A.</li><li>Macy's demonstrated effective inventory management strategies, resulting in reduced inventories compared to previous periods.</li></ul>

Macy's delivered a positive result and managed an all-around beat last quarter, with notable achievements in net sales, gross margin rate, and SG&A rate.These outcomes were primarily driven by better-than-expected sales, gross margin results, and SG&A.Macy's demonstrated effective inventory management strategies, resulting in reduced inventories compared to previous periods.

Macy's Inc.: The Gap Collaboration For The Launch of Sleepwear and Intimates Collections & Other Drivers

<ul><li>Macy's delivered a mixed result in the recent quarter, with revenues below market expectations, but it managed to surpass the analyst consensus in terms of earnings.</li><li>The company produced adjusted diluted EPS of $0.56 despite lower-than-expected net sales and a higher-than-expected gross margin rate.</li><li>Results at Bluemercury once again surpassed projections, owing to their distinctive product mix and advantageous competitive position as an upscale beauty boutique.</li></ul>

Macy's delivered a mixed result in the recent quarter, with revenues below market expectations, but it managed to surpass the analyst consensus in terms of earnings.The company produced adjusted diluted EPS of $0.56 despite lower-than-expected net sales and a higher-than-expected gross margin rate.Results at Bluemercury once again surpassed projections, owing to their distinctive product mix and advantageous competitive position as an upscale beauty boutique.

Macy's Inc.: Bluemercury and Bloomingdale's Performance Is A Silver Lining – Key Drivers

TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

Palantir Technologies  / Equity Bottom-Up

<p>This week we take a look at Palantir's gold purchases, Intel's proposed capex spending, and Amazon's entrance into the Department store space...basically alot of short ideas.</p><div class="content-highlight"><p>Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.</p></div>

This week we take a look at Palantir's gold purchases, Intel's proposed capex spending, and Amazon's entrance into the Department store space...basically alot of short ideas.Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.

TMT Weekly: 3 Things that Stood Out the Week of August 20, 2021

United States

Macy's, Inc. operates department stores in the United States.  The Company also operates direct mail catalog and electronic commerce subsidiaries. Macy's retail stores sell a wide range of merchandise, including men's, women's and children's apparel and accessories, cosmetics, home furnishings and other consumer goods.

Macy's Inc (M US)

Macy's Inc.: Are The Recent Store Closures A Big Warning Sign For Investors? - Major Drivers

Macy's, Inc.’s fourth quarter 2023 earnings showed a mixed set of results. The company saw positive developments throughout 2023, including...

Baptista Research

Macy's Inc.: Interesting Steps Towards Gross Margin Management & Inventory Control! - Major Drivers

Macy's, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings. Sales, gross margin, and SG&A rates exceeded...

Baptista Research

Macy's Inc.: The Gap Collaboration For The Launch of Sleepwear and Intimates Collections & Other Drivers

Macy's delivered a positive result and managed an all-around beat last quarter, with notable achievements in net sales, gross margin rate, and...

Baptista Research

Macy's Inc.: Bluemercury and Bloomingdale's Performance Is A Silver Lining – Key Drivers

Macy's delivered a mixed result in the recent quarter, with revenues below market expectations, but it managed to surpass the analyst consensus in...

Baptista Research

TMT Weekly: 3 Things that Stood Out the Week of August 20, 2021

This week we take a look at Palantir's gold purchases, Intel's proposed capex spending, and Amazon's entrance into the Department store...

Aaron Gabin