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>McDonald's Corporation recently reported its fourth quarter earnings for 2023.</li><li>Despite ongoing macroeconomic pressures throughout 2023, the company managed to deliver strong growth, reporting global comp sales growth of 9% and guest count performance of nearly 3% globally.</li><li>Furthermore, positive traffic was reported across all segments, and the company maintained its leading market share across most of its major markets.</li></ul>

McDonald's Corporation recently reported its fourth quarter earnings for 2023.Despite ongoing macroeconomic pressures throughout 2023, the company managed to deliver strong growth, reporting global comp sales growth of 9% and guest count performance of nearly 3% globally.Furthermore, positive traffic was reported across all segments, and the company maintained its leading market share across most of its major markets.

McDonald's Corporation: What Are Their Actions in Response to Economic Pressures & Inflation? - Major Drivers

<ul><li>McDonald's Corporation managed to surpass Wall Street's revenue and earnings expectations amid persistent challenges and a demanding macro environment.</li><li>Despite moderation in top-line growth, the company, led by its Accelerating the Arches strategy, achieved nearly 9% comparable global sales in Q3, outperforming competitors.</li><li>The "As Featured In" campaign, launched in over 100 markets, exemplifies the effectiveness of a unified marketing approach.</li></ul>

McDonald's Corporation managed to surpass Wall Street's revenue and earnings expectations amid persistent challenges and a demanding macro environment.Despite moderation in top-line growth, the company, led by its Accelerating the Arches strategy, achieved nearly 9% comparable global sales in Q3, outperforming competitors.The "As Featured In" campaign, launched in over 100 markets, exemplifies the effectiveness of a unified marketing approach.

McDonald's Corporation: A Unique Footwear Venture with Crocs & Other Major Drivers

<ul><li>McDonald's Corporation delivered an all-around beat in the previous quarter.</li><li>The second quarter was yet another example of their continually strong success, driven by their execution and guided by their Accelerating the Arches strategy.</li><li>McDonald's continued its outstanding success in Q2 by reaching global comparable sales of 11.7% and double-digit comparable sales in each of its sectors.</li></ul>

McDonald's Corporation delivered an all-around beat in the previous quarter.The second quarter was yet another example of their continually strong success, driven by their execution and guided by their Accelerating the Arches strategy.McDonald's continued its outstanding success in Q2 by reaching global comparable sales of 11.7% and double-digit comparable sales in each of its sectors.

McDonald's Corporation: A Spicy Enough Investment Opportunity? – Key Drivers

<ul><li>McDonald's delivered an all-around beat as a result of the strong consumer demand despite historically slow market sentiments in several markets and a challenging operating environment.</li><li>Operating margins were hampered due to pressure from elevated wages and commodities.</li><li>The chicken was also critical to the strong results in Canada with the successful execution of the promotion of Chicken Big Mac.</li></ul>

McDonald's delivered an all-around beat as a result of the strong consumer demand despite historically slow market sentiments in several markets and a challenging operating environment.Operating margins were hampered due to pressure from elevated wages and commodities.The chicken was also critical to the strong results in Canada with the successful execution of the promotion of Chicken Big Mac.

McDonald's Corporation: Accelerating Restaurant Development and Organization – Key Drivers

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/par-technology-corp" target="_blank" data-smartkarma-citation="entities:37125:1" rel="noopener">PAR Technology (PAR US)</a></strong>, a hospitality technology outfit, and <strong><a href="https://www.smartkarma.com/entities/task-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:32991:1" rel="noopener">TASK Group Holdings (TSK AU)</a> </strong>have entered into a <a href="https://announcements.asx.com.au/asxpdf/20240311/pdf/061bpzs6l0qsdz.pdf" target="_blank" rel="noopener">Scheme agreement</a>. </li>
<li>PAR is offering A$0.81/share in cash, a 103% premium to last close; or a 50:50 cash/scrip option with an implied value of A$0.98/share, an 145% premium to undisturbed. </li>
<li>TASK’s board unanimously recommends the Scheme in the absence of a superior proposal. A Scheme meeting is expected be held in June.</li>
</ul>



PAR Technology (PAR US), a hospitality technology outfit, and TASK Group Holdings (TSK AU) have entered into a Scheme agreement. 
PAR is offering A$0.81/share in cash, a 103% premium to last close; or a 50:50 cash/scrip option with an implied value of A$0.98/share, an 145% premium to undisturbed. 
TASK’s board unanimously recommends the Scheme in the absence of a superior proposal. A Scheme meeting is expected be held in June.


United States

McDonald's Corporation franchises and operates fast-food restaurants in the global restaurant industry. The Company's restaurants serve a variety of value-priced menu products in countries around the world.

Mcdonald's Corp (MCD US)

McDonald's Corporation: What Are Their Actions in Response to Economic Pressures & Inflation? - Major Drivers

McDonald's Corporation recently reported its fourth quarter earnings for 2023. Despite ongoing macroeconomic pressures throughout 2023, the...

Baptista Research

McDonald's Corporation: A Unique Footwear Venture with Crocs & Other Major Drivers

McDonald's Corporation managed to surpass Wall Street's revenue and earnings expectations amid persistent challenges and a demanding macro...

Baptista Research

McDonald's Corporation: A Spicy Enough Investment Opportunity? – Key Drivers

McDonald's Corporation delivered an all-around beat in the previous quarter. The second quarter was yet another example of their continually...

Baptista Research

McDonald's Corporation: Accelerating Restaurant Development and Organization – Key Drivers

McDonald's delivered an all-around beat as a result of the strong consumer demand despite historically slow market sentiments in several markets...

Baptista Research

PAR Tech Taken To Task Group (TSK AU)

Trading at a gross/annualised spread (to the cash terms) of 5.2%/15.8%, assuming mid-July completion. If you are an arbitrageur and follow smallish...

David Blennerhassett