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>Dominion Energy delivered mixed results in the first quarter of 2024, showcasing both resilience and areas needing improvement as it strives to meet its future financial and operational goals.</li><li>The company reported first quarter operating earnings of $0.55 per share, affected by a $0.06 headwind from adverse weather conditions.</li><li>However, the sale of East Ohio Gas Company and various operational management (O&M) timings provided some financial relief.</li></ul>

Dominion Energy delivered mixed results in the first quarter of 2024, showcasing both resilience and areas needing improvement as it strives to meet its future financial and operational goals.The company reported first quarter operating earnings of $0.55 per share, affected by a $0.06 headwind from adverse weather conditions.However, the sale of East Ohio Gas Company and various operational management (O&M) timings provided some financial relief.

Dominion Energy: Initiation of Coverage - A Deep Dive Into Its Core Business Strategy? - Major Drivers

Podcast by Joe Weisenthal & Tracy Alloway, Odd Lots

Odd Lots

Podcast by Joe Weisenthal & Tracy Alloway

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Thematic (Sector/Industry)

<ul><li>The conversation revolves around the significant energy consumption of AI data centers and the potential consequences of this trend</li><li>Tech companies are facing the challenge of balancing their energy needs with their sustainability commitments</li><li>Brian Janus, a former energy hire at Microsoft and now co-founder of Cloverleaf Infrastructure, provides insight into this issue and potential solutions</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

The conversation revolves around the significant energy consumption of AI data centers and the potential consequences of this trendTech companies are facing the challenge of balancing their energy needs with their sustainability commitmentsBrian Janus, a former energy hire at Microsoft and now co-founder of Cloverleaf Infrastructure, provides insight into this issue and potential solutionsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

How Electric Utilities Will Handle Booming AI Datacenter Demand

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

iShares Russell 2000 ETF / Technical Analysis

<ul>
<li>As we noted last week, $209 on the Russell 2000 (IWM) is arguably the most significant resistance level of all right now.</li>
<li>We would like the see a break above $209 on the IWM in order to have a sustainable new bull market.</li>
<li>4590-4600 is a significant resistance level on the S&amp;P 500 we are watching; if bears fail to show up there, next up would likely be a test of all-time highs.</li>
</ul>


As we noted last week, $209 on the Russell 2000 (IWM) is arguably the most significant resistance level of all right now.
We would like the see a break above $209 on the IWM in order to have a sustainable new bull market.
4590-4600 is a significant resistance level on the S&amp;P 500 we are watching; if bears fail to show up there, next up would likely be a test of all-time highs.


Russell 2000 (IWM) Still Testing $209 Resistance: Actionable Groups: Insurance, Shipping, Utilities

Technology Select Sector SPDR / Technical Analysis

<ul>
<li>Our outlook remains bearish at the index level considering we have yet to see any developments that suggest a bottom is in. </li>
<li>The S&amp;P 500, Nasdaq 100 (QQQ), Russell 2000 (IWM), and Russell Micro Cap (IWC) indexes remain in downtrends.</li>
<li>In today’s report we highlight attractive Groups and stocks within Materials, Manufacturing,  Services, and Utilities: MA-14 Fertilizer, MF-15 Railroad Equipment &amp; Products, SV-13 Construction &amp; Engineering, Large-Cap, UT-04 Electric, Mid-Atlantic</li>
</ul>


Our outlook remains bearish at the index level considering we have yet to see any developments that suggest a bottom is in. 
The S&amp;P 500, Nasdaq 100 (QQQ), Russell 2000 (IWM), and Russell Micro Cap (IWC) indexes remain in downtrends.
In today’s report we highlight attractive Groups and stocks within Materials, Manufacturing,  Services, and Utilities: MA-14 Fertilizer, MF-15 Railroad Equipment &amp; Products, SV-13 Construction &amp; Engineering, Large-Cap, UT-04 Electric, Mid-Atlantic


<ul>
<li>Indexes continue to violate our key supports as the Russell 2000 (IWM) broke below $208, the S&amp;P 500 broke below 4495, and the equal-weighted Nasdaq 100 (QQEW) broke below $109.</li>
<li>This type of damage paints a bearish picture at the index level, and will take some time to repair.</li>
<li>Now that key supports have been violated, we are monitoring for oversold conditions that could mark a bottom, and it is possible that was yesterday (Jan. 24).</li>
</ul>


Indexes continue to violate our key supports as the Russell 2000 (IWM) broke below $208, the S&amp;P 500 broke below 4495, and the equal-weighted Nasdaq 100 (QQEW) broke below $109.
This type of damage paints a bearish picture at the index level, and will take some time to repair.
Now that key supports have been violated, we are monitoring for oversold conditions that could mark a bottom, and it is possible that was yesterday (Jan. 24).


U.S. Equity Strategy: Index Supports Breaking; Upgrading and Buying Utilities

United States

Sempra Energy is an energy services holding company with operations throughout the United States, Mexico, and other countries in South America.  The Company, through its subsidiaries, generates electricity, delivers natural gas, operates natural gas pipelines and storage facilities, and operates a wind power generation project.

Consolidated Edison, Inc., through its subsidiaries, provides a variety of energy related products and services. The Company supplies electric service in New York, parts of New Jersey, and Pennsylvania as well as supplies electricity to wholesale customers.

Public Service Enterprise Group Incorporated is a public utility holding company. The Company, through its subsidiaries, generates, transmits, and distributes electricity and produces natural gas in the Northeastern and Mid Atlantic United States.

Public Service Enterprise Group Inc (PEG US)

DTE Energy Company, a diversified energy company, develops and manages energy-related businesses and services nationwide.  The Company, through its subsidiaries, generates, purchases, transmits, distributes, and sells electric energy in southeastern Michigan. DTE is also involved in gas pipelines and storage, unconventional gas exploration, development, and production.

CMS Energy Corporation is an energy company operating primarily in Michigan. The Company, through its subsidiaries provides electricity and/or natural gas to its customers in Michigan. CMS Energy also invests in and operates non-utility power generation plants in the United States and abroad.

Ameren Corporation is a public utility holding company.  The Company, through its subsidiaries, generates electricity, delivers electricity and distributes natural gas to customers in Missouri and Illinois.

CenterPoint Energy, Inc. is a public utility holding company. The Company, through its subsidiaries, conducts activities in electricity transmission and distribution, natural gas distribution and sales, interstate pipeline and gathering operations, and power generation.

WEC Energy Group, Inc. operates as a utilities provider. The Company distributes electricity and natural gas to its customers in Wisconsin, Illinois, Michigan and Minnesota.

NiSource Inc. is an energy holding company. The Company's subsidiaries provide natural gas, electricity and other products and services to customers located within a corridor that runs from the Gulf Coast through the Midwest to New England.

MDU Resources Group, Inc. provides various commercial services. The Company offers distribution of electricity, natural gas, and construction materials, as well as construction services. MDU Resources Group serves customers in the United States.

Engie offers a full range of electricity, gas and associated energy and environment services throughout the world. The Company produces, trades, transports, stores and distributes natural gas, and offers energy management and climatic and thermal engineering services.

E.ON is one of Europe's largest operators of energy networks and energy infrastructure and a provider of innovative customer solutions for some 51 million customers. The company's operations are energy networks and customer solutions.

Engie SA offers a full range of electricity, gas and associated energy and environment services throughout the world. The Company produces, trades, transports, stores, and distributes natural gas, and offers energy management and climatic and thermal engineering services.

Veolia Environnement SA operates utility and public transportation businesses. The Company supplies drinking water, provides waste management services, manages and maintains heating and air conditioning systems, and operates rail and road passenger transportation systems.

National Grid plc is an investor-owned utility company which is focused on the transmission and distribution of electricity and gas. The Company owns and operates the electricity transmission network in England and Wales, the gas transmission network in Great Britain, and electricity transmission networks in the Northeastern United States and Scotland.

Centrica PLC is an integrated energy company offering a wide range of home and business energy solutions. The Company sources, generates, processes, stores, trades, saves and supplies energy and provides a range of related services.

YTL Power International Berhad is an investment holding company which provides administrative and technical support services. Through its subsidiaries, the Company develops, constructs, maintains, and operates power stations which includes Paka Power Station in Terengganu and Pasir Gudang Power Station in Johor.

YTL Corporation Berhad is an investment holding and management company. Through its subsidiaries, the Company operates an integrated infrastructure development which includes construction work on contractual basis, property development, power generation, and hotel development and management. YTL Corporation also manufactures industrial products and supplies.

A2A S.p.A. is an Italian utility company.  The Company is active in electricity (production, distribution, trading and sales), gas (supply, distribution, trading and sales), district heating, waste (collection, treatment and disposal), integrated water cycle, public lighting and other activities. A2A S.p.A  has a strong presence in the North of Italy.

Dominion Energy, Inc. produces and transports energy products. The Company offers natural gas and electric energy transmission, gathering, and storage solutions. Dominion Energy serves customers in the United States.

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Dominion Energy Inc (D US)

Dominion Energy: Initiation of Coverage - A Deep Dive Into Its Core Business Strategy? - Major Drivers

Dominion Energy delivered mixed results in the first quarter of 2024, showcasing both resilience and areas needing improvement as it strives to...

Baptista Research

How Electric Utilities Will Handle Booming AI Datacenter Demand

The Odd Lots podcast delves into the issue of energy consumption in AI data centers and the potential impact on the environment, with guest speaker...

Odd Lots

Russell 2000 (IWM) Still Testing $209 Resistance: Actionable Groups: Insurance, Shipping, Utilities

$209 on the Russell 2000 ($IWM) is arguably the most significant resistance level of all right now, and we would like the see a break above $209 in...

Vermilion Research

Downgrading Technology To Underweight

Downgrading Technology to underweight. Attractive and actionable stocks highlighted: Fertilizer, Railroad Equipment & Products, Construction &...

Vermilion Research

U.S. Equity Strategy: Index Supports Breaking; Upgrading and Buying Utilities

Indexes continue to violate our key supports on the Russell 2000 (IWM), the S&P 500, and the equal-weighted Nasdaq 100 (QQEW). Most opportunities...

Vermilion Research

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