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

Teledyne Technologies Inc. provides electronic subsystems and instrumentation. The Company provides aerospace and defense electronics, digital imaging products & software, monitoring instrumentation for marine & environmental applications, harsh environment interconnect products, and subsystems for satellite communications.  Teledyne also provides engineered systems.

<ul><li>Teledyne Technologies Incorporated reported an impressive performance for the third quarter of 2024, achieving all-time record sales with growth in each business segment.</li><li>This growth was fueled by robust demand in their longer-cycle defense, space, and energy sectors, though sales in most short-cycle commercial businesses have either stabilized or begun to recover sequentially.</li><li>The company continued aggressive capital management strategies during the quarter, including repurchasing approximately $354 million of its stock, completing two acquisitions valued at $125 million, and repaying $450 million in gross debt.</li></ul>

Teledyne Technologies Incorporated reported an impressive performance for the third quarter of 2024, achieving all-time record sales with growth in each business segment.This growth was fueled by robust demand in their longer-cycle defense, space, and energy sectors, though sales in most short-cycle commercial businesses have either stabilized or begun to recover sequentially.The company continued aggressive capital management strategies during the quarter, including repurchasing approximately $354 million of its stock, completing two acquisitions valued at $125 million, and repaying $450 million in gross debt.

Teledyne Technologies: Can They Capitalize On The Strengthening Defense & Energy Markets? - Major Drivers

Old Dominion Freight Line / Equity Bottom-Up

Old Dominion Freight Line, Inc. is an inter-regional and multi-regional motor carrier.  The Company primarily transports less-than-truckload shipments of general commodities, such as consumer goods, textiles, and capital goods.  Old Dominion serves regional markets throughout the United States.

<ul><li>Old Dominion Freight Line's recent third-quarter earnings call for 2024 revealed several key aspects of the company's performance amidst a challenging economic environment.</li><li>The company reported a decrease in revenue, which totaled $1.47 billion, down 3.0% from the prior year.</li><li>The decline in LTL (less-than-truckload) tons per day, which fell by 4.8%, was slightly mitigated by a 1.5% increase in LTL revenue per hundredweight.</li></ul>

Old Dominion Freight Line's recent third-quarter earnings call for 2024 revealed several key aspects of the company's performance amidst a challenging economic environment.The company reported a decrease in revenue, which totaled $1.47 billion, down 3.0% from the prior year.The decline in LTL (less-than-truckload) tons per day, which fell by 4.8%, was slightly mitigated by a 1.5% increase in LTL revenue per hundredweight.

Old Dominion Freight Line: Dealing With Capacity Management Vulnerability & Other Challenges! - Major Drivers

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

PSP Projects Limited operates as a construction company. The Company offers industrial, institutional, government, and residential projects construction, as well as allied services including planning, designing, and post-construction activities. PSP Projects serves the private and public sectors in India.

<ul><li>PSP Projects Limited (PSP) has entered into a SPA with Adani Infra (India) Limited wherein the promoter of PSP Mr Prahaladbhai S Patel, will be selling 30.07% equity share capital of PSP, triggering an open offer for public shareholders</li><li>As informed by the management, the shareholding of the promoters PSP and Adani will continue to remain the same for the next 5 years, post the closure of transaction, and the management will be continued to be led by Mr Patel</li><li>The acquisition by Adani group and the partnership between the promoter groups is expected to complement each other’s capabilities, with PSP lending its expertise in the buildings construction segment and Adani group providing it with group orders in the building segment only.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

PSP Projects Limited (PSP) has entered into a SPA with Adani Infra (India) Limited wherein the promoter of PSP Mr Prahaladbhai S Patel, will be selling 30.07% equity share capital of PSP, triggering an open offer for public shareholdersAs informed by the management, the shareholding of the promoters PSP and Adani will continue to remain the same for the next 5 years, post the closure of transaction, and the management will be continued to be led by Mr PatelThe acquisition by Adani group and the partnership between the promoter groups is expected to complement each other’s capabilities, with PSP lending its expertise in the buildings construction segment and Adani group providing it with group orders in the building segment only.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PSP Projects: Signs SPA with Adani Group. Maintain ADD

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>U.S. markets advanced Thursday, with the Dow Jones Industrial Average leading gains, rising 1.1%</li>
<li>Honda Motor will begin test production of all solid-state EV batteries in January at a new facility in Tochigi prefecture,</li>
<li>Nissan Motor  plans to restructure its Thai operations by fall 2025, affecting around 1,000 employees at its two Bangkok-area plants.</li>
</ul>


U.S. markets advanced Thursday, with the Dow Jones Industrial Average leading gains, rising 1.1%
Honda Motor will begin test production of all solid-state EV batteries in January at a new facility in Tochigi prefecture,
Nissan Motor  plans to restructure its Thai operations by fall 2025, affecting around 1,000 employees at its two Bangkok-area plants.


Ohayo Japan | Bitcoin Briefly Touched $99,000

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Teco Electric & Machinery / Equity Bottom-Up

Teco Electric & Machinery Co., Ltd. manufactures household appliances, industrial motors, and smart cards.  The Company produces air conditioners, refrigerators, washing machines, televisions, dryers, single-phase motors, three-phase motors, inverters, rotary compressors, stepping motors, gear motors, and generators.

<ul>
<li>Teco Electric &amp; Machinery (1504 TT) is one of the leading companies in Taiwan that specialize in electrical machinery and industrial automation.</li>
<li>Teco Electric &amp; Machinery provides high dividend payout and solid dividend yield. From 2020 to 2023, the company's dividend payout and dividend yield averaged 72.9% and 4.6%, respectively.</li>
<li>The company is one of the beneficiaries from the need to upgrade the global energy distribution and storage networks to support the higher usage of AI in the coming years. </li>
</ul>


Teco Electric &amp; Machinery (1504 TT) is one of the leading companies in Taiwan that specialize in electrical machinery and industrial automation.
Teco Electric &amp; Machinery provides high dividend payout and solid dividend yield. From 2020 to 2023, the company's dividend payout and dividend yield averaged 72.9% and 4.6%, respectively.
The company is one of the beneficiaries from the need to upgrade the global energy distribution and storage networks to support the higher usage of AI in the coming years. 


Asian Dividend Gems: Teco Electric & Machinery

Industrials
Industrials Insights

Teledyne Technologies: Can They Capitalize On The Strengthening Defense & Energy Markets? - Major Drivers

Teledyne Technologies Incorporated reported an impressive performance for the third quarter of 2024, achieving all-time record sales with growth...

Baptista Research

Old Dominion Freight Line: Dealing With Capacity Management Vulnerability & Other Challenges! - Major Drivers

Old Dominion Freight Line's recent third-quarter earnings call for 2024 revealed several key aspects of the company's performance amidst a...

Baptista Research

PSP Projects: Signs SPA with Adani Group. Maintain ADD

PSP Projects Limited (PSP) has entered into a SPA with Adani Infra (India) Limited wherein the promoter of PSP Mr Prahaladbhai S Patel, will be...

HDFC Securities

Ohayo Japan | Bitcoin Briefly Touched $99,000

U.S. markets rise, Honda to test solid-state EV batteries, Nissan to restructure Thai operations impacting 1,000 employees.

Mark Chadwick

Asian Dividend Gems: Teco Electric & Machinery

Teco Electric & Machinery (1504 TT) is one of the beneficiaries from the need to upgrade the global energy distribution and storage networks to...

Douglas Kim

Teledyne Technologies: Can They Capitalize On The Strengthening Defense & Energy Markets? - Major Drivers

Teledyne Technologies Incorporated reported an impressive performance for the third quarter of 2024, achieving all-time record sales with growth...

Baptista Research

Old Dominion Freight Line: Dealing With Capacity Management Vulnerability & Other Challenges! - Major Drivers

Old Dominion Freight Line's recent third-quarter earnings call for 2024 revealed several key aspects of the company's performance amidst a...

Baptista Research

PSP Projects: Signs SPA with Adani Group. Maintain ADD

PSP Projects Limited (PSP) has entered into a SPA with Adani Infra (India) Limited wherein the promoter of PSP Mr Prahaladbhai S Patel, will be...

HDFC Securities

Ohayo Japan | Bitcoin Briefly Touched $99,000

​U.S. markets rise, Honda to test solid-state EV batteries, Nissan to restructure Thai operations impacting 1,000 employees.

Mark Chadwick

Asian Dividend Gems: Teco Electric & Machinery

Teco Electric & Machinery (1504 TT) is one of the beneficiaries from the need to upgrade the global energy distribution and storage networks to...

Douglas Kim

U.S. markets rise, Honda to test solid-state EV batteries, Nissan to restructure Thai operations impacting 1,000 employees.