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>Illumina experienced a mixed third-quarter performance for 2024, illustrating both advancements and challenges in its operational landscape.</li><li>The company reported quarterly revenue of $1.1 billion, matching its expectations but reflecting a 2% decrease year-over-year.</li><li>This decline was linked to reduced instrument sales due to the launch-year comparisons of the NovaSeq X series and effects of capital constraints globally.</li></ul>

Illumina experienced a mixed third-quarter performance for 2024, illustrating both advancements and challenges in its operational landscape.The company reported quarterly revenue of $1.1 billion, matching its expectations but reflecting a 2% decrease year-over-year.This decline was linked to reduced instrument sales due to the launch-year comparisons of the NovaSeq X series and effects of capital constraints globally.

Illumina Inc.: These Are The 3 Biggest Challenges In Its Path!  - Major Drivers

<ul><li>In the second quarter of 2024, Illumina posted revenue results that exceeded expectations.</li><li>While the revenue from core Illumina stood at $1.1 billion, demonstrating solid execution against strategic priorities, the company admits facing challenges due to extended sales cycles and concerns over global economic pressures which affected equipment orders.</li><li>Despite these hurdles, consumption of sequencing activity consumables saw a significant rise primarily driven by the NovaSeq X Plus, emphasizing an ongoing transition that spells potential future growth.</li></ul>

In the second quarter of 2024, Illumina posted revenue results that exceeded expectations.While the revenue from core Illumina stood at $1.1 billion, demonstrating solid execution against strategic priorities, the company admits facing challenges due to extended sales cycles and concerns over global economic pressures which affected equipment orders.Despite these hurdles, consumption of sequencing activity consumables saw a significant rise primarily driven by the NovaSeq X Plus, emphasizing an ongoing transition that spells potential future growth.

Illumina Inc.: The Tale Of Global Market Penetration and Expansion! - Major Drivers

US-EU Index Rebalances / Quantitative Researcher, Ortex

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

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

<ul>
<li>Index Committee's discretion decreases the predictability of index changes. Even when a company passes all eligibility criteria and thresholds, it might still not be selected.</li>
<li>Understanding triggers for index changes, types of additions/deletions and selection patterns, narrows down the pool of candidates and increases conviction of forecasts.</li>
<li>
<a href="https://www.smartkarma.com/entities/dell-technologies-inc" target="_blank" data-smartkarma-citation="entities:32189:1" rel="noopener">Dell Technologies (DELL US)</a> is currently the main candidate to be added by transition to the S&amp;P 500 in September 2024 Quarterly Rebalance.</li>
</ul>


Index Committee's discretion decreases the predictability of index changes. Even when a company passes all eligibility criteria and thresholds, it might still not be selected.
Understanding triggers for index changes, types of additions/deletions and selection patterns, narrows down the pool of candidates and increases conviction of forecasts.

Dell Technologies (DELL US) is currently the main candidate to be added by transition to the S&amp;P 500 in September 2024 Quarterly Rebalance.


S&P 500 / S&P 1500: Deriving Forecasts & First Prediction for September

<ul><li>Illumina Inc. has had a strong first quarter of 2024, which included an encouraging performance from its high throughput consumables, increased revenue from strategic partnerships, and the delivery of a number of NovaSeq X instruments.</li><li>However, Chief Executive Officer Jacob Thaysen has warned about the persisting uncertain global economic environment and cited customer concerns affecting purchasing decisions.</li><li>The year's results were particularly promising considering the challenges posed by the Coronavirus pandemic.</li></ul>

Illumina Inc. has had a strong first quarter of 2024, which included an encouraging performance from its high throughput consumables, increased revenue from strategic partnerships, and the delivery of a number of NovaSeq X instruments.However, Chief Executive Officer Jacob Thaysen has warned about the persisting uncertain global economic environment and cited customer concerns affecting purchasing decisions.The year's results were particularly promising considering the challenges posed by the Coronavirus pandemic.

Illumina Inc.: Will Its Market Dominance In Genetic Analysis Last? - Major Drivers

<ul>
<li>
<a href="https://www.smartkarma.com/entities/palantir-technologies-inc" target="_blank" data-smartkarma-citation="entities:27728:1" rel="noopener">Palantir Technologies (PLTR US)</a> is anticipated to be the largest addition following its eligibility, which was secured through a listing transfer from NYSE to Nasdaq just before the cut-off date.</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> is projected to exit the index despite its recent entry in July 2024, as it has ranked above the exit threshold of 125.</li>
<li>
<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> is <em>not </em>an expected deletion due to special ADR market cap treatment. <a href="https://www.smartkarma.com/entities/equinix-inc" target="_blank" data-smartkarma-citation="entities:17409:1" rel="noopener">Equinix Inc (EQIX US)</a> is <em>not </em>an expected addition because it is a REIT.</li>
</ul>



Palantir Technologies (PLTR US) is anticipated to be the largest addition following its eligibility, which was secured through a listing transfer from NYSE to Nasdaq just before the cut-off date.

Super Micro Computer (SMCI US) is projected to exit the index despite its recent entry in July 2024, as it has ranked above the exit threshold of 125.

ARM Holdings (ARM US) is not an expected deletion due to special ADR market cap treatment. Equinix Inc (EQIX US) is not an expected addition because it is a REIT.


Nasdaq100 December 2024 Forecast (Final): Palantir's Last-Minute Entry; Arm's Subtle Retention

United States

Illumina, Inc. develops, manufactures and markets integrated systems for the large scale analysis of genetic variation and biological function. The Company provides a comprehensive line of products and services that currently serve the sequencing, genotyping and gene expression markets for genomic research centers, pharmaceutical companies, academic institutions and biotechnology companies.

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Illumina Inc (ILMN US)

Illumina Inc.: These Are The 3 Biggest Challenges In Its Path! - Major Drivers

Illumina experienced a mixed third-quarter performance for 2024, illustrating both advancements and challenges in its operational landscape. The...

Baptista Research

Illumina Inc.: The Tale Of Global Market Penetration and Expansion! - Major Drivers

In the second quarter of 2024, Illumina posted revenue results that exceeded expectations. While the revenue from core Illumina stood at $1.1...

Baptista Research

S&P 500 / S&P 1500: Deriving Forecasts & First Prediction for September

S&P Index Committee's discretion reduces predictability of index changes. Identifying patterns and types of changes, narrows down the addition...

Dimitris Ioannidis

Illumina Inc.: Will Its Market Dominance In Genetic Analysis Last? - Major Drivers

Illumina Inc. has had a strong first quarter of 2024, which included an encouraging performance from its high throughput consumables, increased...

Baptista Research

Nasdaq100 December 2024 Forecast (Final): Palantir's Last-Minute Entry; Arm's Subtle Retention

F1: 100%. All of the forecasts matched the index changes announced at the close of Friday 13 December. SMCI fell more than 11% in premarket trading...

Dimitris Ioannidis

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Illumina Inc.: These Are The 3 Biggest Challenges In Its Path! - Major Drivers

Illumina experienced a mixed third-quarter performance for 2024, illustrating both advancements and challenges in its operational landscape. The...

Baptista Research

Illumina Inc.: The Tale Of Global Market Penetration and Expansion! - Major Drivers

In the second quarter of 2024, Illumina posted revenue results that exceeded expectations. While the revenue from core Illumina stood at $1.1...

Baptista Research

S&P 500 / S&P 1500: Deriving Forecasts & First Prediction for September

S&P ​Index Committee's discretion reduces predictability of index changes. Identifying patterns and types of changes, narrows down the addition...

Dimitris Ioannidis

Illumina Inc.: Will Its Market Dominance In Genetic Analysis Last? - Major Drivers

Illumina Inc. has had a strong first quarter of 2024, which included an encouraging performance from its high throughput consumables, increased...

Baptista Research

Nasdaq100 December 2024 Forecast (Final): Palantir's Last-Minute Entry; Arm's Subtle Retention

F1: 100%. All of the forecasts matched the index changes announced at the close of Friday 13 December. SMCI fell more than 11% in premarket trading...

Dimitris Ioannidis

S&P Index Committee's discretion reduces predictability of index changes. Identifying patterns and types of changes, narrows down the addition...