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>Olin Corporation, a chemical manufacturing company, recently reported its Fourth Quarter 2023 Earnings and had met its four major targets for the fourth quarter which suggested positive performance.</li><li>First, they achieved an adjusted EBITDA of $210 million against the backdrop of a $100 million EBITDA impact from their value accelerator initiative.</li><li>Second, Olin was able to halt the decline of ECU values due to the same touchpoint initiative.</li></ul>

Olin Corporation, a chemical manufacturing company, recently reported its Fourth Quarter 2023 Earnings and had met its four major targets for the fourth quarter which suggested positive performance.First, they achieved an adjusted EBITDA of $210 million against the backdrop of a $100 million EBITDA impact from their value accelerator initiative.Second, Olin was able to halt the decline of ECU values due to the same touchpoint initiative.

Olin Corporation: Initiation Of Coverage - Exploring the 4 Core Influencers of Its Growth Trajectory! - Major Drivers

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>S&amp;P DJI commenced a market consultation for the S&amp;P Global Water Index on 29 July and that could lead to quite a few changes to the index in October.</li>
<li>We currently see 14 deletions and 10 inclusions for the index in October. Most of the changes will have a high impact from passive fund trading.</li>
<li>There could be more changes in April 2023 once stocks listed in Emerging Markets are included in the index.</li>
</ul>


S&amp;P DJI commenced a market consultation for the S&amp;P Global Water Index on 29 July and that could lead to quite a few changes to the index in October.
We currently see 14 deletions and 10 inclusions for the index in October. Most of the changes will have a high impact from passive fund trading.
There could be more changes in April 2023 once stocks listed in Emerging Markets are included in the index.


S&P Global Water Index: Market Consultation Driven Potential Changes

Independent Research, Turtles all the way down

Turtles all the way down

Independent Research

Writing short articles about mis-priced boring stocks around the world.

<ul><li>Look at the last 100 years, and things are not so different. War, large inflation and pandemics were things that happened periodically.</li><li>A lot of stocks that have run up are still trading like we will return to the pre 2020 status quo soon</li><li>I don’t think that is the case. So I adjusted my portfolio significantly, and considering further adjustments</li></ul>

Look at the last 100 years, and things are not so different. War, large inflation and pandemics were things that happened periodically.A lot of stocks that have run up are still trading like we will return to the pre 2020 status quo soonI don’t think that is the case. So I adjusted my portfolio significantly, and considering further adjustments

Global Special Situations

Charles Nave

The tragic events in Orlando have many people in the USA and around the world asking a lot of questions. These are exactly the same questions asked every couple of months and it’s honestly tiring. How many of these incidents does it take for both sides of government to unite – independent of the NRA – and make a meaningful impact? The sad fact is, meaningful, impactful change is likely to never happen in the short term, medium term or long term (or I've concluded during my lifetime).  As hard as it is to say, these events create the ideal environment for gun demand, which is great for the likes of Sturm Ruger (RGR US) and Smith &amp; Wesson (SWHC US).

The tragic events in Orlando have many people in the USA and around the world asking a lot of questions. These are exactly the same questions asked every couple of months and it’s honestly tiring. How many of these incidents does it take for both sides of government to unite – independent of the NRA – and make a meaningful impact? The sad fact is, meaningful, impactful change is likely to never happen in the short term, medium term or long term (or I've concluded during my lifetime).  As hard as it is to say, these events create the ideal environment for gun demand, which is great for the likes of Sturm Ruger (RGR US) and Smith &amp; Wesson (SWHC US).

Mass Shootings Are (I'm Afraid) A Boon for Gun Producers

M&A Reporting, CTFN

Jonathan Spitzer

M&A Reporting

CTFN

Bringing the marketplace leading coverage of mergers, events, and major corporate actions, CTFN has a team of seasoned reporters from Los Angeles to London, publishing news that advances stories that matter to event-driven investors and deal professionals.

A former Axiall executive told CTFN that the company has few options beyond the recent hostile bid from Westlake Chemical.  He said that Axiall’s board probably has a “magic number” that it would like Westlake to reach before the deal could ultimately turn friendly.

A former Axiall executive told CTFN that the company has few options beyond the recent hostile bid from Westlake Chemical.  He said that Axiall’s board probably has a “magic number” that it would like Westlake to reach before the deal could ultimately turn friendly.

Axiall Faces Limited Options as Westlake Closes In

United States

Olin Corporation manufactures chemicals and ammunition products. The Company manufactures and sells chlorine, caustic soda, sodium hydrosulfite, hydrochloric acid, hydrogen, sodium chlorate, bleach products, and potassium hydroxide. Olin also manufactures products that include sporting ammunition, reloading components, small caliber military ammunition and industrial cartridges.

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Olin Corp (OLN US)

Olin Corporation: Initiation Of Coverage - Exploring the 4 Core Influencers of Its Growth Trajectory! - Major Drivers

Olin Corporation, a chemical manufacturing company, recently reported its Fourth Quarter 2023 Earnings and had met its four major targets for the...

Baptista Research

S&P Global Water Index: Market Consultation Driven Potential Changes

S&P DJI's market consultation for the S&P Global Water Index could lead to quite a few changes to the index in October. There are a few potential...

Brian Freitas

Cheapness still in cyclical names

You know how they say how the phrase “this time is different” is expensive? The problem with this phrase is, at what time scale do you measure the...

Turtles all the way down

Mass Shootings Are (I'm Afraid) A Boon for Gun Producers

The tragic events in Orlando have many people in the USA and around the world asking a lot of questions. These are exactly the same questions asked...

Charles Nave

Axiall Faces Limited Options as Westlake Closes In

A former Axiall executive told CTFN that the company has few options beyond the recent hostile bid from Westlake Chemical. He said that Axiall’s...

CTFN

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