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>Leggett & Platt's third quarter 2024 results reflect a challenging performance environment driven by several demand and operational pressures.</li><li>Overall sales amounted to $1.1 billion, representing a 6% decline year-over-year.</li><li>The decrease was primarily attributed to volume declines across all three business segments—Bedding Products, Specialized Products, and Furniture, Flooring and Textile Products—coupled with reductions in raw material-related selling prices.</li></ul>

Leggett & Platt's third quarter 2024 results reflect a challenging performance environment driven by several demand and operational pressures.Overall sales amounted to $1.1 billion, representing a 6% decline year-over-year.The decrease was primarily attributed to volume declines across all three business segments—Bedding Products, Specialized Products, and Furniture, Flooring and Textile Products—coupled with reductions in raw material-related selling prices.

Leggett & Platt’s Innovation Push: Will New Product Launches & Tech Upgrades Drive a Turnaround? - Major Drivers

<ul><li>Leggett & Platt's Second Quarter 2024 earnings highlighted several key areas of performance and strategic initiatives, reflecting an environment of both challenges and transformation for the company under revised leadership with CEO Karl Glassman.</li><li>The company is focusing heavily on restructuring, with significant emphasis on operational efficiencies and reduction of general and administrative costs.</li><li>Key initiatives include consolidation of facilities and optimization of manufacturing processes particularly in their Bedding Products and Furniture, Flooring & Textile Products segments.</li></ul>

Leggett & Platt's Second Quarter 2024 earnings highlighted several key areas of performance and strategic initiatives, reflecting an environment of both challenges and transformation for the company under revised leadership with CEO Karl Glassman.The company is focusing heavily on restructuring, with significant emphasis on operational efficiencies and reduction of general and administrative costs.Key initiatives include consolidation of facilities and optimization of manufacturing processes particularly in their Bedding Products and Furniture, Flooring & Textile Products segments.

Leggett & Platt Incorporated: Dealing With Market Dependency Challenges & Economic Sensitivity! - Major Drivers

<ul><li>Leggett & Platt, a prominent engineered product manufacturer, recently revealed its financial and strategic direction in its first quarter 2024 earnings analysis.</li><li>The company is engaged in multiple business segments, notably Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.</li><li>The reported period reflects a mix of strategic restructuring, operational challenges, and financial adjustments aimed at long-term sustainability and growth.</li></ul>

Leggett & Platt, a prominent engineered product manufacturer, recently revealed its financial and strategic direction in its first quarter 2024 earnings analysis.The company is engaged in multiple business segments, notably Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.The reported period reflects a mix of strategic restructuring, operational challenges, and financial adjustments aimed at long-term sustainability and growth.

Leggett & Platt Incorporated: Will There Be A Negative Impact Of Broader Macro-Economic Trends? - Major Drivers

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>S&amp;P DJI Global Indices on Friday announced the changes to the S&amp;P500, S&amp;P Midcap 400, and S&amp;P 600 to be implement at the close on 17 December. </li>
<li>There were no surprises and the whole exercise is one of rearranging the deckchairs. Stocks move up an index, or down an index, but nothing moves out of the three.</li>
<li>The proprietary S&amp;P data suggests little opportunity, but empirical data suggests otherwise, and as in most cases, the interesting trades are the smaller ones.</li>
</ul>


S&amp;P DJI Global Indices on Friday announced the changes to the S&amp;P500, S&amp;P Midcap 400, and S&amp;P 600 to be implement at the close on 17 December. 
There were no surprises and the whole exercise is one of rearranging the deckchairs. Stocks move up an index, or down an index, but nothing moves out of the three.
The proprietary S&amp;P data suggests little opportunity, but empirical data suggests otherwise, and as in most cases, the interesting trades are the smaller ones.


S&P500 Rebalance for December 2021 - Rearranging the Deckchairs

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>The markets moved sharply higher on Tuesday’s election results, with the ‘risk-on’ trade, lower uncertainty, enhanced prospects for domestic manufacturing given the incoming administration’s views on trade, and hopes for a ‘lighter’ regulatory approach boosting stocks.</li><li>The Water Tower Research Commercial/Contract Furniture Index was up 6.2% and the WTR Mass Retailers Index was up 4.7% for the week, while the WTR Residential Manufacturers &amp; Suppliers Index was flat and the Home Goods Retailers Index was down 3%. The DJ30 and S&amp;P 500 were both up 5% and the R2K was up 8.2%.</li><li>How should we explain this divergence? The Commercial/Contract Index likely benefited from expectations for stronger GDP growth and better profits, both catalysts for corporate investment. </li></ul>

The markets moved sharply higher on Tuesday’s election results, with the ‘risk-on’ trade, lower uncertainty, enhanced prospects for domestic manufacturing given the incoming administration’s views on trade, and hopes for a ‘lighter’ regulatory approach boosting stocks.The Water Tower Research Commercial/Contract Furniture Index was up 6.2% and the WTR Mass Retailers Index was up 4.7% for the week, while the WTR Residential Manufacturers &amp; Suppliers Index was flat and the Home Goods Retailers Index was down 3%. The DJ30 and S&amp;P 500 were both up 5% and the R2K was up 8.2%.How should we explain this divergence? The Commercial/Contract Index likely benefited from expectations for stronger GDP growth and better profits, both catalysts for corporate investment. 

Furniture/Furnishings Weekly Post-Election Market Swings - November 11, 2024

United States

Leggett & Platt, Incorporated manufactures a wide range of engineered products. The Company's products include components for bedding, furniture, and other residential furnishings, as well as office and institutional furnishings components, retail store fixtures, and displays, specialty wire products, and automotive seating suspension and lumbar systems.

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Leggett & Platt (LEG US)

Leggett & Platt’s Innovation Push: Will New Product Launches & Tech Upgrades Drive a Turnaround? - Major Drivers

Leggett & Platt's third quarter 2024 results reflect a challenging performance environment driven by several demand and operational...

Baptista Research

Leggett & Platt Incorporated: Dealing With Market Dependency Challenges & Economic Sensitivity! - Major Drivers

Leggett & Platt's Second Quarter 2024 earnings highlighted several key areas of performance and strategic initiatives, reflecting an...

Baptista Research

Leggett & Platt Incorporated: Will There Be A Negative Impact Of Broader Macro-Economic Trends? - Major Drivers

Leggett & Platt, a prominent engineered product manufacturer, recently revealed its financial and strategic direction in its first quarter...

Baptista Research

S&P500 Rebalance for December 2021 - Rearranging the Deckchairs

The S&P announced its changes to the S&P500, S&P Midcap 400, and S&P Small 600 Indices. All names moving in and out of these indices are coming...

Travis Lundy

Furniture/Furnishings Weekly Post-Election Market Swings - November 11, 2024

The markets moved sharply higher on Tuesday’s election results, with the ‘risk-on’ trade, lower uncertainty, enhanced prospects for domestic...

Water Tower Research

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