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>Adient recently disclosed its financial results, presenting a mixed picture that warrants a balanced view for potential investors.</li><li>The company, a global leader in automotive seating, reported a revenue decline of 4% year-over-year, bringing the figure to $3.8 billion.</li><li>This decline was primarily driven by lower production volumes, attributed to slower-than-anticipated key launches and softening electric vehicle (EV) demand in the Americas and Europe, Middle East, and Africa (EMEA) regions.</li></ul>

Adient recently disclosed its financial results, presenting a mixed picture that warrants a balanced view for potential investors.The company, a global leader in automotive seating, reported a revenue decline of 4% year-over-year, bringing the figure to $3.8 billion.This decline was primarily driven by lower production volumes, attributed to slower-than-anticipated key launches and softening electric vehicle (EV) demand in the Americas and Europe, Middle East, and Africa (EMEA) regions.

Adient plc: Why We Are So Optimistic About Them Given The Improved Market Share & Performance in China!   - Major Drivers

<ul><li>This is our first report on Adient, a global leader in automotive seating.</li><li>The company has continued to focus on business performance, launch execution, and continuous improvement in FY 2024.</li><li>Some highlights in the first fiscal quarter of 2024 include a total revenue of $3.7 billion, a slight decrease compared to the previous year's first quarter, and an adjusted EBITDA totalling $216 million, reflecting an increase of 2%.</li></ul>

This is our first report on Adient, a global leader in automotive seating.The company has continued to focus on business performance, launch execution, and continuous improvement in FY 2024.Some highlights in the first fiscal quarter of 2024 include a total revenue of $3.7 billion, a slight decrease compared to the previous year's first quarter, and an adjusted EBITDA totalling $216 million, reflecting an increase of 2%.

Adient plc: Initiation Of Coverage - What Is Its Business Strategy & How Is It Growing In China? - 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>There are 3 changes for the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX</a>, 8 changes for the S&amp;P Midcap400 Index and 15 changes for the S&amp;P SmallCap600 Index at the September rebalance.</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> and <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> were finally added to the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a> and there is huge size to trade in the stocks.</li>
<li>There will also be big buying in <a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple (AAPL US)</a> following a float increase driven by <a href="https://www.smartkarma.com/entities/berkshire-hathaway-inc-cl-a" target="_blank" data-smartkarma-citation="entities:1044:1" rel="noopener">Berkshire Hathaway Inc Cl A (BRK/A US)</a> selling last quarter.</li>
</ul>


There are 3 changes for the S&amp;P 500 INDEX, 8 changes for the S&amp;P Midcap400 Index and 15 changes for the S&amp;P SmallCap600 Index at the September rebalance.

Dell Technologies (DELL US) and Palantir Technologies (PLTR US) were finally added to the S&amp;P 500 INDEX (SPX INDEX) and there is huge size to trade in the stocks.
There will also be big buying in Apple (AAPL US) following a float increase driven by Berkshire Hathaway Inc Cl A (BRK/A US) selling last quarter.


S&P500/400/600 Index Rebalance: Dell, Palantir Make It (Finally!); Apple Upweight

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

We are beginning to see early signs of rotations back into more risk-on areas of the equity market -- a bullish sign for the broad market. Short-term outperformance and constructive consolidation/bottoming patterns are evident within biotech (IBB, XBI), small- and micro-caps (IWM, IWC), and emerging markets (EEM). This only adds to our positive outlook for the weeks and months ahead; continue to buy pullbacks.

We are beginning to see early signs of rotations back into more risk-on areas of the equity market -- a bullish sign for the broad market. Short-term outperformance and constructive consolidation/bottoming patterns are evident within biotech (IBB, XBI), small- and micro-caps (IWM, IWC), and emerging markets (EEM). This only adds to our positive outlook for the weeks and months ahead; continue to buy pullbacks.

U.S. Equity Strategy: Risk-On Rotations Vs. Weaker Seasonality; Russell 2000, Biotech, EM Improving

Investment Advisors, JL Warren Capital

Junheng Li

Investment Advisors

JL Warren Capital

JL Warren Capital LLC is a leading independent equity research firm focused on Chinese companies and listed multinationals in China. We employ a bottom-up research approach that takes great care to avoid the acquisition of material non-public information. Through investigative due diligence including channel surveys and interviews, our research helps clients to pinpoint the dislocations in the market.

In this note, we share our latest on the ground checks on <a href="https://www.smartkarma.com/entities/tesla-motors-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla Motors (TSLA US)</a> China this month.   We believe that both the GF3 production progress and local demand for MIC M3 are over-hyped.  Chinese brokers  and funds have played a role in rallying the expectations, possibly aiming at promoting the stocks relating to TSLA supply chain locally (very little as of today in fact).  A funny, true story is that a Chinese PCB maker Olympic Circuit Tech which is listed on the mainland stock market was halted trading for three days this week (10% price movement triggers trading suspension in mainland China) caused by a broad, nearly week-long rally in TSLA supplier stocks.  On the fourth day, Olympic Circuit officially announced that it is not designed or used in MIC M3, but that didn’t stop the rally.

In this note, we share our latest on the ground checks on Tesla Motors (TSLA US) China this month.   We believe that both the GF3 production progress and local demand for MIC M3 are over-hyped.  Chinese brokers  and funds have played a role in rallying the expectations, possibly aiming at promoting the stocks relating to TSLA supply chain locally (very little as of today in fact).  A funny, true story is that a Chinese PCB maker Olympic Circuit Tech which is listed on the mainland stock market was halted trading for three days this week (10% price movement triggers trading suspension in mainland China) caused by a broad, nearly week-long rally in TSLA supplier stocks.  On the fourth day, Olympic Circuit officially announced that it is not designed or used in MIC M3, but that didn’t stop the rally.  

Tesla China and EV Subsidies Fact Checks - January 2020

United States

Adient plc is a automotive seating supplier that designs, develops, manufactures, and distributes complete seat systems and their various components. The Company provides its products to the global auto industry for use in vans, pick-up trucks and SUV vehicles.

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Adient PLC (ADNT US)

Adient plc: Initiation Of Coverage - What Is Its Business Strategy & How Is It Growing In China? - Major Drivers

This is our first report on Adient, a global leader in automotive seating. The company has continued to focus on business performance, launch...

Baptista Research

S&P500/400/600 Index Rebalance: Dell, Palantir Make It (Finally!); Apple Upweight

There are 3 changes for the SnP500, 8 for the SnP400 and 15 for the SnP600 Index. Dell and Palantir have finally been added. There is huge size to...

Brian Freitas

U.S. Equity Strategy: Risk-On Rotations Vs. Weaker Seasonality; Russell 2000, Biotech, EM Improving

We are seeing signs of rotations back into more risk-on areas of the equity market -- a bullish sign for the broad market. Add to biotech, small-...

Vermilion Research

Tesla China and EV Subsidies Fact Checks - January 2020

In this note, we share our latest on the ground checks on Tesla Motors (TSLA US) China this month. We believe that both the GF3 production...

JL Warren Capital

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Adient plc: Why We Are So Optimistic About Them Given The Improved Market Share & Performance in China! - Major Drivers

Adient recently disclosed its financial results, presenting a mixed picture that warrants a balanced view for potential investors. The company, a...

Baptista Research

Adient plc: Initiation Of Coverage - What Is Its Business Strategy & How Is It Growing In China? - Major Drivers

This is our first report on Adient, a global leader in automotive seating. The company has continued to focus on business performance, launch...

Baptista Research

S&P500/400/600 Index Rebalance: Dell, Palantir Make It (Finally!); Apple Upweight

There are 3 changes for the SnP500, 8 for the SnP400 and 15 for the SnP600 Index. Dell and Palantir have finally been added. There is huge size to...

Brian Freitas

U.S. Equity Strategy: Risk-On Rotations Vs. Weaker Seasonality; Russell 2000, Biotech, EM Improving

We are seeing signs of rotations back into more risk-on areas of the equity market -- a bullish sign for the broad market. Add to biotech, small-...

Vermilion Research

Tesla China and EV Subsidies Fact Checks - January 2020

In this note, we share our latest on the ground checks on Tesla Motors (TSLA US) China this month. We believe that both the GF3 production...

JL Warren Capital