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

Warner Bros Discovery  / Equity Bottom-Up

<ul><li>Warner Bros. Discovery (WBD) has announced a significant restructuring by splitting its operations into two distinct divisions: one dedicated to the legacy cable TV business and the other encompassing streaming and studios.</li><li>This strategic realignment is set to be operational by mid 2025 and reflects the company’s response to evolving market dynamics and technological disruptions.</li><li>The reorganization merges HBO Max and Discovery+ streaming services with Warner Bros. movie and TV production operations, positioning them alongside cable networks like TNT, CNN, and HGTV.</li></ul>

Warner Bros. Discovery (WBD) has announced a significant restructuring by splitting its operations into two distinct divisions: one dedicated to the legacy cable TV business and the other encompassing streaming and studios.This strategic realignment is set to be operational by mid 2025 and reflects the company’s response to evolving market dynamics and technological disruptions.The reorganization merges HBO Max and Discovery+ streaming services with Warner Bros. movie and TV production operations, positioning them alongside cable networks like TNT, CNN, and HGTV.

Warner Bros. Discovery’s Bold Restructuring: Strategic Realignment or Prelude to a Mega Deal?

<ul><li>Warner Bros. Discovery recently held its Q2 earnings call for 2024, an event of crucial importance for investors and industry observers alike.</li><li>The call encapsulated various dimensions of the business's performance and strategic direction, touching on both high-performing areas and ongoing challenges.</li><li>A primary highlight from the call was the robust performance of Warner Bros. Discovery's direct-to-consumer (DTC) segment, notably in the streaming realm.</li></ul>

Warner Bros. Discovery recently held its Q2 earnings call for 2024, an event of crucial importance for investors and industry observers alike.The call encapsulated various dimensions of the business's performance and strategic direction, touching on both high-performing areas and ongoing challenges.A primary highlight from the call was the robust performance of Warner Bros. Discovery's direct-to-consumer (DTC) segment, notably in the streaming realm.

Warner Bros. Discovery Inc.: Focus on Direct-To-Consumer (DTC) Initiatives & Leveraging Content Across Platforms To Drive Growth! - Major Drivers

US-EU Index Rebalances / Quantitative Researcher

Dimitris Ioannidis

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Event-Driven

Monolithic Power Systems, Inc / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/monolithic-power-systems-inc" target="_blank" data-smartkarma-citation="entities:2088:1" rel="noopener">Monolithic Power Systems (MPWR US)</a> is a direct addition followed by <a href="https://www.smartkarma.com/entities/applovin-corp" target="_blank" data-smartkarma-citation="entities:32989:1" rel="noopener">AppLovin (APP US)</a> which is a conditional addition but close to be direct. Demand is ~$1.8bn and ~3.5 ADV.</li>
<li>
<a href="https://www.smartkarma.com/entities/dollar-tree-inc" target="_blank" data-smartkarma-citation="entities:10913:1" rel="noopener">Dollar Tree Inc (DLTR US)</a> is a direct deletion with the highest exclusion probability as it is  ranked above the exit rank of 125. </li>
<li>
<a href="https://www.smartkarma.com/entities/super-micro-computer-inc" target="_blank" data-smartkarma-citation="entities:7921:1" rel="noopener">Super Micro Computer (SMCI US)</a> , <a href="https://www.smartkarma.com/entities/arm-holdings-inc" target="_blank" data-smartkarma-citation="entities:21816:1" rel="noopener">ARM Holdings (ARM US)</a> and <a href="https://www.smartkarma.com/entities/moderna-inc" target="_blank" data-smartkarma-citation="entities:28744:1" rel="noopener">Moderna (MRNA US)</a> are amongst the prioritized constituents preventing eligible candidates from entering the index. </li>
</ul>



Monolithic Power Systems (MPWR US) is a direct addition followed by AppLovin (APP US) which is a conditional addition but close to be direct. Demand is ~$1.8bn and ~3.5 ADV.

Dollar Tree Inc (DLTR US) is a direct deletion with the highest exclusion probability as it is  ranked above the exit rank of 125. 

Super Micro Computer (SMCI US) , ARM Holdings (ARM US) and Moderna (MRNA US) are amongst the prioritized constituents preventing eligible candidates from entering the index. 


Nasdaq-100 December 2024 Forecasts: Monolithic Power & AppLovin It; Dollar Tree Needs Watering

<ul><li>In the second quarter of 2024, Warner Bros. Discovery navigated a mixed environment marked by significant achievements and prevailing market challenges, reflecting the complex visibility of its transition phase two years post its launch.</li><li>The direct-to-consumer (DTC) segment exhibited robust performance, highlighted by impressive international subscriber growth initiated by the strategic timing of Max's launch in Europe to coincide with the Olympic Games.</li><li>This geographical expansion has fundamentally bolstered Warner Bros. Discovery's position as a formidable player on the global streaming scene, leveraging large-scale live events to drive subscriber engagement and growth.</li></ul>

In the second quarter of 2024, Warner Bros. Discovery navigated a mixed environment marked by significant achievements and prevailing market challenges, reflecting the complex visibility of its transition phase two years post its launch.The direct-to-consumer (DTC) segment exhibited robust performance, highlighted by impressive international subscriber growth initiated by the strategic timing of Max's launch in Europe to coincide with the Olympic Games.This geographical expansion has fundamentally bolstered Warner Bros. Discovery's position as a formidable player on the global streaming scene, leveraging large-scale live events to drive subscriber engagement and growth.

Warner Bros. Discovery Inc.: A Tale Of Robust Content Pipeline & IP Monetization! - Major Drivers

<ul><li>Warner Bros. Discovery commenced the first quarter of 2024 with a focus on adjusting its operations for future sustainability in an industry marked by rapid disruption due to technological advancements.</li><li>The company acknowledges the transformative necessities dictated by changing consumer behaviors and the technological landscape.</li><li>On a positive note, Warner Bros. Discovery reported an encouraging increase in subscriber growth for its streaming service, Max, which saw an addition of 2 million subscribers across various regions, pushing its total Direct-to-Consumer (D2C) subscriber count towards 100 million.</li></ul>

Warner Bros. Discovery commenced the first quarter of 2024 with a focus on adjusting its operations for future sustainability in an industry marked by rapid disruption due to technological advancements.The company acknowledges the transformative necessities dictated by changing consumer behaviors and the technological landscape.On a positive note, Warner Bros. Discovery reported an encouraging increase in subscriber growth for its streaming service, Max, which saw an addition of 2 million subscribers across various regions, pushing its total Direct-to-Consumer (D2C) subscriber count towards 100 million.

Warner Bros. Discovery Inc.: A Growth Story Around Strategic Partnerships and Global Expansion! - Major Drivers

United States

Warner Bros. Discovery, Inc. operates as a media and entertainment company. The Company offers a complete portfolio of content, brands, and franchises across television, film, streaming, and gaming.

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Warner Bros Discovery (WBD US)

Warner Bros. Discovery’s Bold Restructuring: Strategic Realignment or Prelude to a Mega Deal?

Warner Bros. Discovery (WBD) has announced a significant restructuring by splitting its operations into two distinct divisions: one dedicated to...

Baptista Research

Warner Bros. Discovery Inc.: Focus on Direct-To-Consumer (DTC) Initiatives & Leveraging Content Across Platforms To Drive Growth! - Major Drivers

Warner Bros. Discovery recently held its Q2 earnings call for 2024, an event of crucial importance for investors and industry observers alike. The...

Baptista Research

Nasdaq-100 December 2024 Forecasts: Monolithic Power & AppLovin It; Dollar Tree Needs Watering

MPWR and APP are the top candidates for inclusion with an average forecasted demand at nearly $2bn and 3.5 ADV, while DLTR and ILMN face a high...

Dimitris Ioannidis

Warner Bros. Discovery Inc.: A Tale Of Robust Content Pipeline & IP Monetization! - Major Drivers

In the second quarter of 2024, Warner Bros. Discovery navigated a mixed environment marked by significant achievements and prevailing market...

Baptista Research

Warner Bros. Discovery Inc.: A Growth Story Around Strategic Partnerships and Global Expansion! - Major Drivers

Warner Bros. Discovery commenced the first quarter of 2024 with a focus on adjusting its operations for future sustainability in an industry...

Baptista Research

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52-week Range

Market Cap (USDm)

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Dividend (Yield)

Warner Bros. Discovery’s Bold Restructuring: Strategic Realignment or Prelude to a Mega Deal?

Warner Bros. Discovery (WBD) has announced a significant restructuring by splitting its operations into two distinct divisions: one dedicated to...

Baptista Research

Warner Bros. Discovery Inc.: Focus on Direct-To-Consumer (DTC) Initiatives & Leveraging Content Across Platforms To Drive Growth! - Major Drivers

Warner Bros. Discovery recently held its Q2 earnings call for 2024, an event of crucial importance for investors and industry observers alike. The...

Baptista Research

Nasdaq-100 December 2024 Forecasts: Monolithic Power & AppLovin It; Dollar Tree Needs Watering

​MPWR and APP are the top candidates for inclusion with an average forecasted demand at nearly $2bn and 3.5 ADV, while DLTR and ILMN face a high...

Dimitris Ioannidis

Warner Bros. Discovery Inc.: A Tale Of Robust Content Pipeline & IP Monetization! - Major Drivers

In the second quarter of 2024, Warner Bros. Discovery navigated a mixed environment marked by significant achievements and prevailing market...

Baptista Research

Warner Bros. Discovery Inc.: A Growth Story Around Strategic Partnerships and Global Expansion! - Major Drivers

Warner Bros. Discovery commenced the first quarter of 2024 with a focus on adjusting its operations for future sustainability in an industry...

Baptista Research

MPWR and APP are the top candidates for inclusion with an average forecasted demand at nearly $2bn and 3.5 ADV, while DLTR and ILMN face a high...