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>Lowe's Companies reported third-quarter sales of $20.2 billion, with comparable sales down 1.1%.</li><li>Despite the overall decline, the company noted strength in Pro and online sales, which were key drivers of performance.</li><li>Pro sales increased with high single-digit positive comps, attributed to investments in the Pro shopping experience.</li></ul>

Lowe's Companies reported third-quarter sales of $20.2 billion, with comparable sales down 1.1%.Despite the overall decline, the company noted strength in Pro and online sales, which were key drivers of performance.Pro sales increased with high single-digit positive comps, attributed to investments in the Pro shopping experience.

Lowe's Companies Inc.: Will Its Diversification of Sourcing & Supply Chain Strategy Be A Potential Game Changer? - Major Drivers

<ul><li>Lowe's Companies' second quarter 2024 earnings outlined a mixed performance amid challenging market conditions, reflecting both the strengths and weaknesses of its current business strategy.</li><li>The company reported Q2 sales of $23.6 billion, with comparable sales down by 5.1%.</li><li>This decline was attributed to a decrease in demand for Do-It-Yourself (DIY) projects, partially mitigated by solid performance in the Professional (Pro) segment and a growth in online sales.</li></ul>

Lowe's Companies' second quarter 2024 earnings outlined a mixed performance amid challenging market conditions, reflecting both the strengths and weaknesses of its current business strategy.The company reported Q2 sales of $23.6 billion, with comparable sales down by 5.1%.This decline was attributed to a decrease in demand for Do-It-Yourself (DIY) projects, partially mitigated by solid performance in the Professional (Pro) segment and a growth in online sales.

Lowe's Companies: A Dive Into Its Brand Strength & Market Position! - Major Drivers

<ul><li>Lowe's Companies reported its recent earnings and maintained the company's expectations for fiscal 2024.</li><li>Their first quarter sales were $21.4 billion, with comparable sales down 4.1% from the same period last year.</li><li>Despite the continued pressure in DIY big ticket discretionary spending, the company delivered better-than-expected spring seasonal sales.</li></ul>

Lowe's Companies reported its recent earnings and maintained the company's expectations for fiscal 2024.Their first quarter sales were $21.4 billion, with comparable sales down 4.1% from the same period last year.Despite the continued pressure in DIY big ticket discretionary spending, the company delivered better-than-expected spring seasonal sales.

Lowe's Companies: Front-End Transformation and Investment in Technology! - Major Drivers

<ul><li>In the fourth quarter of 2023, Lowe's Companies reported a decline in comparable sales of 6.2% due to cautious consumer spending on home improvement projects and unfavorable weather.</li><li>The company faced challenges in attracting the do-it-yourself(DIY) customer segment to spend on big-ticket home improvement purchases, as macroeconomic factors such as persistent inflation and a stagnant housing market led these customers to focus on smaller, value-oriented projects.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

In the fourth quarter of 2023, Lowe's Companies reported a decline in comparable sales of 6.2% due to cautious consumer spending on home improvement projects and unfavorable weather.The company faced challenges in attracting the do-it-yourself(DIY) customer segment to spend on big-ticket home improvement purchases, as macroeconomic factors such as persistent inflation and a stagnant housing market led these customers to focus on smaller, value-oriented projects.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Lowe's Companies Inc.: Will The Seasonality & Changing Demand Trends Have An Impact On Its Near-Term Performance? - 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>Constituent changes 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</a> and capping changes will result in a round-trip trade of US$17.7bn across the Select Sector indices and the S&amp;P500 Equal Weight Index.</li>
<li>There is over US$500m to trade in <a href="https://www.smartkarma.com/entities/broadcom-inc" target="_blank" data-smartkarma-citation="entities:998:1" rel="noopener">Broadcom (AVGO US)</a>, <a href="https://www.smartkarma.com/entities/tesla-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla (TSLA US)</a>, <a href="https://www.smartkarma.com/entities/apollo-global-management-inc" target="_blank" data-smartkarma-citation="entities:28770:1" rel="noopener">Apollo Global Management (APO US)</a>, <a href="https://www.smartkarma.com/entities/amazon-com-inc" target="_blank" data-smartkarma-citation="entities:409:1" rel="noopener">Amazon.com Inc (AMZN US)</a> and <a href="https://www.smartkarma.com/entities/workday-inc-class-a" target="_blank" data-smartkarma-citation="entities:5660:1" rel="noopener">Workday Inc Class A (WDAY US)</a>. </li>
<li>
<a href="https://www.smartkarma.com/entities/broadcom-inc" target="_blank" data-smartkarma-citation="entities:998:1" rel="noopener">Broadcom (AVGO US)</a> swings from a small net buy to a large net sell following the rally in the stock last week.</li>
</ul>


Constituent changes to the S&amp;P 500 INDEX and capping changes will result in a round-trip trade of US$17.7bn across the Select Sector indices and the S&amp;P500 Equal Weight Index.
There is over US$500m to trade in Broadcom (AVGO US), Tesla (TSLA US), Apollo Global Management (APO US), Amazon.com Inc (AMZN US) and Workday Inc Class A (WDAY US). 

Broadcom (AVGO US) swings from a small net buy to a large net sell following the rally in the stock last week.


Select Sector Indices and S&P Equal Weight Rebalance: US$17.7bn Round-Trip Trade Post Capping Cutoff

United States

Lowe's Companies, Inc. is a home improvement retailer that distributes building materials and supplies through stores in the United States. The Company offers a complete line of products and services for home decorating, maintenance, repair, remodeling, and property maintenance.

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Lowe's Companies Inc (LOW US)

Lowe's Companies Inc.: Will Its Diversification of Sourcing & Supply Chain Strategy Be A Potential Game Changer? - Major Drivers

Lowe's Companies reported third-quarter sales of $20.2 billion, with comparable sales down 1.1%. Despite the overall decline, the company noted...

Baptista Research

Lowe's Companies: A Dive Into Its Brand Strength & Market Position! - Major Drivers

Lowe's Companies' second quarter 2024 earnings outlined a mixed performance amid challenging market conditions, reflecting both the strengths and...

Baptista Research

Lowe's Companies: Front-End Transformation and Investment in Technology! - Major Drivers

Lowe's Companies reported its recent earnings and maintained the company's expectations for fiscal 2024. Their first quarter sales were $21.4...

Baptista Research

Lowe's Companies Inc.: Will The Seasonality & Changing Demand Trends Have An Impact On Its Near-Term Performance? - Major Drivers

In the fourth quarter of 2023, Lowe's Companies reported a decline in comparable sales of 6.2% due to cautious consumer spending on home...

Baptista Research

Select Sector Indices and S&P Equal Weight Rebalance: US$17.7bn Round-Trip Trade Post Capping Cutoff

Constituent changes to the SnP500 Index and capping changes result in a round-trip trade of US$17.7bn across the Select Sector and the SnP500 Equal...

Brian Freitas

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