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>During Dow Inc.'s most recent quarterly earnings call, the company presented a mixed financial performance alongside an optimistic outlook on several fronts, illustrating both the challenges and opportunities it faces in the current economic landscape.</li><li>Dow Inc. reported a decrease in net sales with $10.9 billion, reflecting a 4% decline year-over-year but achieving a 1% sequential improvement.</li><li>This mixed result underscores the fluctuating demands in different market segments due to the slower-than-anticipated global economic recovery, specifically impacting areas like building and construction and consumer durables.</li></ul>

During Dow Inc.'s most recent quarterly earnings call, the company presented a mixed financial performance alongside an optimistic outlook on several fronts, illustrating both the challenges and opportunities it faces in the current economic landscape.Dow Inc. reported a decrease in net sales with $10.9 billion, reflecting a 4% decline year-over-year but achieving a 1% sequential improvement.This mixed result underscores the fluctuating demands in different market segments due to the slower-than-anticipated global economic recovery, specifically impacting areas like building and construction and consumer durables.

Dow Inc.: Expansion in Sustainability and Circular Plastics & Dealing With Innovation Challenges! - Major Drivers

<ul><li>In the first quarter 2024 earnings of Dow, Inc., the company demonstrated precision in navigating market complexities and pursuing strategic growth opportunities.</li><li>While acknowledging the potential for economic recovery, they also recognized concerns around inflation, interest rates, and geopolitical tensions.</li><li>Throughout the first quarter, Dow showed increased operating rates to meet the rising demand while keeping pricing consistent and benefitting from decreased feedstock and energy costs.</li></ul>

In the first quarter 2024 earnings of Dow, Inc., the company demonstrated precision in navigating market complexities and pursuing strategic growth opportunities.While acknowledging the potential for economic recovery, they also recognized concerns around inflation, interest rates, and geopolitical tensions.Throughout the first quarter, Dow showed increased operating rates to meet the rising demand while keeping pricing consistent and benefitting from decreased feedstock and energy costs.

Dow Inc.: Improved Demand in Functional Polymers for Infrastructure Changing The Game? - Major Drivers

<ul><li>The Dow Inc.'s Q4 2023 results show the company's commitment to fulfill its financial obligations amidst a challenging macroeconomic environment.</li><li>The company reported net sales of $10.6 billion, a 10% decrease from the same period in the previous year.</li><li>Sales in all operating segments declined due to lower feedstock and energy costs, resulting in a 1% decrease in sequential sales.</li></ul>

The Dow Inc.'s Q4 2023 results show the company's commitment to fulfill its financial obligations amidst a challenging macroeconomic environment.The company reported net sales of $10.6 billion, a 10% decrease from the same period in the previous year.Sales in all operating segments declined due to lower feedstock and energy costs, resulting in a 1% decrease in sequential sales.

Dow Inc: Solid Growth of Construction Chemicals and Industrial Solutions Businesses & Other Major Drivers

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Late Friday, S&amp;PDJI announced <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a> and <a href="https://www.smartkarma.com/entities/sherwin-williams-co-the" target="_blank" data-smartkarma-citation="entities:15539:1" rel="noopener">Sherwin Williams Co (SHW US)</a> would replace <a href="https://www.smartkarma.com/entities/intel-corp" target="_blank" data-smartkarma-citation="entities:16764:1" rel="noopener">Intel Corp (INTC US)</a> and <a href="https://www.smartkarma.com/entities/dow-inc" target="_blank" data-smartkarma-citation="entities:19107:1" rel="noopener">Dow (DOW US)</a> in the Dow Jones Industrial Avg.</li>
<li>This was done to "ensure a more representative exposure to the semiconductors industry and materials sector, respectively." This will be effective of 7 November close; only four days to trade. </li>
<li>The details merit a closer look. Calculating how much tracks the DJIA should be "easy" but I have questions. That said, <a href="https://www.smartkarma.com/entities/sherwin-williams-co-the" target="_blank" data-smartkarma-citation="entities:15539:1" rel="noopener">Sherwin Williams Co (SHW US)</a> could get exciting.</li>
</ul>


Late Friday, S&amp;PDJI announced NVIDIA Corp (NVDA US) and Sherwin Williams Co (SHW US) would replace Intel Corp (INTC US) and Dow (DOW US) in the Dow Jones Industrial Avg.
This was done to "ensure a more representative exposure to the semiconductors industry and materials sector, respectively." This will be effective of 7 November close; only four days to trade. 
The details merit a closer look. Calculating how much tracks the DJIA should be "easy" but I have questions. That said, Sherwin Williams Co (SHW US) could get exciting.


Dow Jones Industrial Avg Nov24 Rebalance - Sherwin Williams (SHW) Could Get Jiggy

David Blennerhassett

<ul>
<li>
<a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I (3382 JP)</a> selling <a href="https://www.smartkarma.com/entities/seven-bank-ltd" target="_blank" data-smartkarma-citation="entities:16063:1" rel="noopener">Seven Bank (8410 JP)</a> is obvious. It has been obvious. It is non-core. It's always been non-core. It was made  clear in previous Strategy announcements,</li>
<li>
<a href="https://www.smartkarma.com/entities/pccw-ltd" target="_blank" data-smartkarma-citation="entities:873:1" rel="noopener">PCCW Ltd (8 HK)</a>'s premium to NAV is unjustified. However reversing the stub has not been going to plan of late, as the NAV premium continues to widen.</li>
<li>Mavcom HAS approved the <a href="https://www.smartkarma.com/entities/malaysia-airports-holdings-bhd" target="_blank" data-smartkarma-citation="entities:117:1" rel="noopener">Malaysia Airports Holdings (MAHB MK)</a> deal. But still welcomes public consultation. So, approved or not?</li>
</ul>



Seven &amp; I (3382 JP) selling Seven Bank (8410 JP) is obvious. It has been obvious. It is non-core. It's always been non-core. It was made  clear in previous Strategy announcements,

PCCW Ltd (8 HK)'s premium to NAV is unjustified. However reversing the stub has not been going to plan of late, as the NAV premium continues to widen.
Mavcom HAS approved the Malaysia Airports Holdings (MAHB MK) deal. But still welcomes public consultation. So, approved or not?


Last Week in Event SPACE: Seven & I/Seven Bank, PCCW, Malaysia Airports, I'rom Group

United States

Dow Inc. produces and distributes chemical products. The Company manufactures and supplies chemicals for liquid injection molding, architecture fabrication, leather, textiles, automobiles, rubber consumer goods, and food industries. Dow serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Dow (DOW US)

Dow Inc.: Expansion in Sustainability and Circular Plastics & Dealing With Innovation Challenges! - Major Drivers

During Dow Inc.'s most recent quarterly earnings call, the company presented a mixed financial performance alongside an optimistic outlook on...

Baptista Research

Dow Inc.: Improved Demand in Functional Polymers for Infrastructure Changing The Game? - Major Drivers

In the first quarter 2024 earnings of Dow, Inc., the company demonstrated precision in navigating market complexities and pursuing strategic...

Baptista Research

Dow Inc: Solid Growth of Construction Chemicals and Industrial Solutions Businesses & Other Major Drivers

The Dow Inc.'s Q4 2023 results show the company's commitment to fulfill its financial obligations amidst a challenging macroeconomic...

Baptista Research

Dow Jones Industrial Avg Nov24 Rebalance - Sherwin Williams (SHW) Could Get Jiggy

The DJIA (Dow30) is an odd anachronism. Price-weighted. Rebalances when it wants. No ranking system. Just a committee and some vague inputs. This...

Travis Lundy

Last Week in Event SPACE: Seven & I/Seven Bank, PCCW, Malaysia Airports, I'rom Group

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)