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>Manulife Financial Corporation reported its fourth quarter and full year 2025 results, reflecting a generally strong financial and operational performance amid ongoing macroeconomic and geopolitical uncertainties.</li><li>The company achieved significant growth in new business contractual service margin (CSM), with more than 20% growth across insurance segments, resulting in a double-digit increase in CSM balance.</li><li>Core earnings grew notably, driven by strong contributions from Global Wealth and Asset Management (WAM) and the Asia insurance segment.</li></ul>

Manulife Financial Corporation reported its fourth quarter and full year 2025 results, reflecting a generally strong financial and operational performance amid ongoing macroeconomic and geopolitical uncertainties.The company achieved significant growth in new business contractual service margin (CSM), with more than 20% growth across insurance segments, resulting in a double-digit increase in CSM balance.Core earnings grew notably, driven by strong contributions from Global Wealth and Asset Management (WAM) and the Asia insurance segment.

Manulife Financial Is Reinventing Growth in Asia—Can Its Distribution Strategy Offset Regulatory Headwinds?

<ul><li>Manulife Financial Corporation recently published its third-quarter financial results for 2025, along with an updated strategic plan.</li><li>In a thorough presentation, leaders highlighted a mixture of strengths and weaknesses that investors might consider when evaluating the company's potential.</li><li>On the positive side, Manulife showcased robust growth in insurance new business performance, with every insurance segment achieving growth rates of 15% or greater in new business Contractual Service Margin (CSM), which indicates strong future earnings potential.</li></ul>

Manulife Financial Corporation recently published its third-quarter financial results for 2025, along with an updated strategic plan.In a thorough presentation, leaders highlighted a mixture of strengths and weaknesses that investors might consider when evaluating the company's potential.On the positive side, Manulife showcased robust growth in insurance new business performance, with every insurance segment achieving growth rates of 15% or greater in new business Contractual Service Margin (CSM), which indicates strong future earnings potential.

Manulife Financial Corporation: What Strong Performance Across Hong Kong

<ul><li>Manulife Financial's second-quarter 2025 earnings call provides a comprehensive view of the company's performance and strategic direction.</li><li>The quarter was marked by promising growth in several areas, alongside some challenges that need addressing.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Manulife Financial's second-quarter 2025 earnings call provides a comprehensive view of the company's performance and strategic direction.The quarter was marked by promising growth in several areas, alongside some challenges that need addressing.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Manulife Financial Corporation’s Asian Surge – Will 31% APE Growth Continue in 2025?

<ul><li>Manulife Financial recently released its first quarter 2025 results, showcasing both positive and challenging aspects of its performance.</li><li>The company maintained strong growth momentum from 2024, particularly in its Asia and Global Wealth and Asset Management (WAM) businesses.</li><li>Asia's Annualized Premium Equivalent (APE) sales surged 50%, driven by robust demand in Hong Kong, Japan, Mainland China, and Singapore.</li></ul>

Manulife Financial recently released its first quarter 2025 results, showcasing both positive and challenging aspects of its performance.The company maintained strong growth momentum from 2024, particularly in its Asia and Global Wealth and Asset Management (WAM) businesses.Asia's Annualized Premium Equivalent (APE) sales surged 50%, driven by robust demand in Hong Kong, Japan, Mainland China, and Singapore.

Manulife Financial Corporation Delivers Double-Digit CSM Growth—Can It Sustain This Earnings Surge?

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>In last week's 2/25/25 Compass, we discussed our expectation for near-term downside as the S&amp;P 500 and Nasdaq 100 (QQQ) displayed several bearish short-term developments.</li>
<li>We said don't be surprised if there is a test of the bottom of the range at either 5770-5850 or 5600-5670, where we would be buyers</li>
<li>The S&amp;P 500 and Nasdaq 100 (QQQ) are testing major confluence of support at 5770-5850 and $490-$500, respectively, the first of our potential bottom levels discussed last week.</li>
</ul>


In last week's 2/25/25 Compass, we discussed our expectation for near-term downside as the S&amp;P 500 and Nasdaq 100 (QQQ) displayed several bearish short-term developments.
We said don't be surprised if there is a test of the bottom of the range at either 5770-5850 or 5600-5670, where we would be buyers
The S&amp;P 500 and Nasdaq 100 (QQQ) are testing major confluence of support at 5770-5850 and $490-$500, respectively, the first of our potential bottom levels discussed last week.


S&P 500 and Nasdaq 100 Testing Initial Support; Russell and Nasdaq With Bullish Breadth Divergences

Canada

Manulife Financial Corporation is a Canadian multinational insurance company and financial services provider. It offers life and health insurance, wealth management, and investment solutions to individuals and groups across Canada, the U.S., and Asia. Headquartered in Toronto, Ontario, the company was founded in 1887.

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Manulife (945 HK)

Manulife Financial Is Reinventing Growth in Asia—Can Its Distribution Strategy Offset Regulatory Headwinds?

Manulife Financial Corporation reported its fourth quarter and full year 2025 results, reflecting a generally strong financial and operational...

Baptista Research

Manulife Financial Corporation: What Strong Performance Across Hong Kong

Manulife Financial Corporation recently published its third-quarter financial results for 2025, along with an updated strategic plan. In a...

Baptista Research

Manulife Financial Corporation’s Asian Surge – Will 31% APE Growth Continue in 2025?

Manulife Financial's second-quarter 2025 earnings call provides a comprehensive view of the company's performance and strategic direction. The...

Baptista Research

Manulife Financial Corporation Delivers Double-Digit CSM Growth—Can It Sustain This Earnings Surge?

Manulife Financial recently released its first quarter 2025 results, showcasing both positive and challenging aspects of its performance. The...

Baptista Research

S&P 500 and Nasdaq 100 Testing Initial Support; Russell and Nasdaq With Bullish Breadth Divergences

$SPX and $QQQ $NDX Testing Initial Supports at 5770-5850 and $490-$500; Russell 2000 $IWM and Nasdaq 100 Bullish Breadth Divergences (% above 20-...

Vermilion Research

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