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>MetLife Inc. delivered solid financial results for the first quarter of 2024 with strong top-line growth, consistent execution, and sustained momentum.</li><li>The company reported adjusted earnings of $1.3 billion or $1.83 per share, up 20% per share from the prior year period, reflecting a partial rebound in variable investment income led by private equity gains.</li><li>Net income for the first quarter was $800 million, taking a sharp rise from $14 million from the prior year period.</li></ul>

MetLife Inc. delivered solid financial results for the first quarter of 2024 with strong top-line growth, consistent execution, and sustained momentum.The company reported adjusted earnings of $1.3 billion or $1.83 per share, up 20% per share from the prior year period, reflecting a partial rebound in variable investment income led by private equity gains.Net income for the first quarter was $800 million, taking a sharp rise from $14 million from the prior year period.

MetLife Inc.: A Story Of Capital Deployment to Achieve Responsible Growth and Boost Shareholder Value! - Major Drivers

<ul><li>MetLife managed to exceed Wall Street's revenue and earnings expectations, underscoring the company's sustained business momentum.</li><li>Adjusted earnings per share, excluding these items, stood at $1.95, reflecting a significant 43% increase from the previous year.</li><li>In the US Group Benefits sector, MetLife achieved an all-time high in adjusted earnings, totaling $483 million, a 16% year-over-year increase.</li></ul>

MetLife managed to exceed Wall Street's revenue and earnings expectations, underscoring the company's sustained business momentum.Adjusted earnings per share, excluding these items, stood at $1.95, reflecting a significant 43% increase from the previous year.In the US Group Benefits sector, MetLife achieved an all-time high in adjusted earnings, totaling $483 million, a 16% year-over-year increase.

MetLife Inc.: AI Partnerships As A Major Growth Driver! - Financial Forecasts

<ul><li>MetLife delivered mixed results for the previous quarter, with revenues above analyst expectations but below-par earnings.</li><li>MetLife reported adjusted earnings of $1.5 billion or $1.94 per share, showcasing underlying momentum in its core businesses.</li><li>MetLife's prudent investment portfolio management and risk management were evident in the well-controlled underwriting results and effective expense management.</li></ul>

MetLife delivered mixed results for the previous quarter, with revenues above analyst expectations but below-par earnings.MetLife reported adjusted earnings of $1.5 billion or $1.94 per share, showcasing underlying momentum in its core businesses.MetLife's prudent investment portfolio management and risk management were evident in the well-controlled underwriting results and effective expense management.

MetLife Inc.: An Inside Look at Underwriting Mastery and Effective Expense Control! - Major Drivers

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Dai Ichi Life Insurance / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dai-ichi-life-insurance" target="_blank" data-smartkarma-citation="entities:1109:1" rel="noopener">Dai Ichi Life Insurance (8750 JP)</a> has seen rebounding net profit at a strong rate of growth for the past four quarters. </li>
<li>ROE has moved from a dismal 3.4% to 11.8% from 2Q23 to 2Q24, where a single US bank impairment should now drop out of the numbers</li>
<li>New business annual premiums are up from JPY97bn to JPY122bn from 2Q23 to 2Q24 with a high solvency ratio of 654% </li>
</ul>



Dai Ichi Life Insurance (8750 JP) has seen rebounding net profit at a strong rate of growth for the past four quarters. 
ROE has moved from a dismal 3.4% to 11.8% from 2Q23 to 2Q24, where a single US bank impairment should now drop out of the numbers
New business annual premiums are up from JPY97bn to JPY122bn from 2Q23 to 2Q24 with a high solvency ratio of 654% 


Dai-Ichi Life Holdings - 4 Quarters Strongly Rising Profit, ROE: 3% to 12%, A Profit Upgrade?

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

NASDAQ Composite Index / Technical Analysis

<ul>
<li>Following last week's pullback, a consistent theme we are seeing is that many broad market indexes and Sector ETFs are holding above (and bouncing at) major base supports.</li>
<li>As long as these base supports continue to hold, it tells us this is likely just a normal pullback within the overall bullish trend.</li>
<li>Important supports that we need to see hold in order to remain bullish include 4600 on the S&amp;P 500 and 14,400 on the Nasdaq Composite.</li>
</ul>


Following last week's pullback, a consistent theme we are seeing is that many broad market indexes and Sector ETFs are holding above (and bouncing at) major base supports.
As long as these base supports continue to hold, it tells us this is likely just a normal pullback within the overall bullish trend.
Important supports that we need to see hold in order to remain bullish include 4600 on the S&amp;P 500 and 14,400 on the Nasdaq Composite.


Major Base Supports Holding; DXY Testing the 2-Month Downtrend; 4600 on SPX Remains Key Support

United States

MetLife, Inc. provides individual insurance, employee benefits and financial services with operations throughout the United States and the regions of Latin America, Europe, and Asia Pacific. The Company's products include life insurance, annuities, automobile and homeowners insurance, retail banking and other financial services to individuals as well as group insurance.

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Metlife Inc (MET US)

MetLife Inc.: A Story Of Capital Deployment to Achieve Responsible Growth and Boost Shareholder Value! - Major Drivers

MetLife Inc. delivered solid financial results for the first quarter of 2024 with strong top-line growth, consistent execution, and sustained...

Baptista Research

MetLife Inc.: AI Partnerships As A Major Growth Driver! - Financial Forecasts

MetLife managed to exceed Wall Street's revenue and earnings expectations, underscoring the company's sustained business momentum. Adjusted...

Baptista Research

MetLife Inc.: An Inside Look at Underwriting Mastery and Effective Expense Control! - Major Drivers

MetLife delivered mixed results for the previous quarter, with revenues above analyst expectations but below-par earnings. MetLife reported...

Baptista Research

Dai-Ichi Life Holdings - 4 Quarters Strongly Rising Profit, ROE: 3% to 12%, A Profit Upgrade?

Dai-ichi Life Holdings is a sprawling global insurer and asset manager, with Japan, Australia and US as key markets. Profit is improving strongly,...

Daniel Tabbush

Major Base Supports Holding; DXY Testing the 2-Month Downtrend; 4600 on SPX Remains Key Support

A consistent theme we are seeing is that many broad market indexes and Sector ETFs are holding above (and bouncing at) major base supports...

Vermilion Research

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