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>RLI Corp. reported strong financial results for the second quarter of 2024, reflecting a comprehensive picture of growth and financial stability across its various segments.</li><li>The company, with its broad portfolio of insurance products, demonstrated robust underwriting profitability and significant net investment income growth.</li><li>The deep dive into each segment reveals both strengths and areas with scope for vigilance.</li></ul>

RLI Corp. reported strong financial results for the second quarter of 2024, reflecting a comprehensive picture of growth and financial stability across its various segments.The company, with its broad portfolio of insurance products, demonstrated robust underwriting profitability and significant net investment income growth.The deep dive into each segment reveals both strengths and areas with scope for vigilance.

RLI Corp.: Expansion and Innovation in Surety Products & Major Drivers

<ul><li>RLI Corp. commenced the year positively, reflecting double-digit growth and underwriting profitability across all segments.</li><li>The company reported first-quarter operating earnings of $1.89 per share, driven by robust underwriting performance and a 21% increase in investment income.</li><li>Additionally, net earnings per share stood at $2.77, benefitting from realized and unrealized gains in the investment portfolio.</li></ul>

RLI Corp. commenced the year positively, reflecting double-digit growth and underwriting profitability across all segments.The company reported first-quarter operating earnings of $1.89 per share, driven by robust underwriting performance and a 21% increase in investment income.Additionally, net earnings per share stood at $2.77, benefitting from realized and unrealized gains in the investment portfolio.

RLI Corp.: Initiation of Coverage - A Tale Of Enhanced Digital Capabilities and Operational Efficiency! - Major Drivers

Equity Long-Short Analyst

Pyari Menon

Skyward Specialty Insurance Gr / Equity Bottom-Up

<ul>
<li>One of the areas of fintech innovations, seeing significant growth is insurtech. Big data, AI, and IoT have enabled innovations in customer experience, risk assessment, and personalized products.</li>
<li>
<a href="https://www.smartkarma.com/entities/skyward-specialty-insurance-gr" target="_blank" data-smartkarma-citation="entities:37180:1" rel="noopener">Skyward Specialty Insurance Gr (SKWD US)</a>'s focus on underserved and complex markets, with unique risks, should give the company better growth and margins runway. </li>
<li>Integration of proprietary  and collaborative technologies to enhance operational efficiency and customer experience in specific niches makes Skyward very competitive in admitted and  specialty insurance segments. </li>
</ul>


One of the areas of fintech innovations, seeing significant growth is insurtech. Big data, AI, and IoT have enabled innovations in customer experience, risk assessment, and personalized products.

Skyward Specialty Insurance Gr (SKWD US)'s focus on underserved and complex markets, with unique risks, should give the company better growth and margins runway. 
Integration of proprietary  and collaborative technologies to enhance operational efficiency and customer experience in specific niches makes Skyward very competitive in admitted and  specialty insurance segments. 


Skyward Specialty Insurance: Leveraging Insurtech for Growth in Underserved Markets

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

<ul>
<li>We've expected to see 4300-4325 act as major support on SPX, while also expecting consolidation between 4300-4325 support and 4600 resistance until the end of September, and possibly longer.</li>
<li>Still possible this 4300-4325 support holds, but odds of a deeper pullback to SPX 4165-4200/the 200-day MA have increased following major breakouts in the U.S. dollar (DXY) and Treasury yields </li>
<li>Also adding to concerns: 1+ year uptrend violations on $IWO/$IWP, and breakdowns below 34,280 on the Dow, $180 on IWM, $472 on SOXX, $81 on ITB, and $104-$105 on XLI</li>
</ul>


We've expected to see 4300-4325 act as major support on SPX, while also expecting consolidation between 4300-4325 support and 4600 resistance until the end of September, and possibly longer.
Still possible this 4300-4325 support holds, but odds of a deeper pullback to SPX 4165-4200/the 200-day MA have increased following major breakouts in the U.S. dollar (DXY) and Treasury yields 
Also adding to concerns: 1+ year uptrend violations on $IWO/$IWP, and breakdowns below 34,280 on the Dow, $180 on IWM, $472 on SOXX, $81 on ITB, and $104-$105 on XLI


U.S. Dollar (DXY) And Treasury Yields Breaking Out; Growing Number of Index/Sector Breakdowns

<p>Now that the initial/primary low has been established and with the S&amp;P 500 roughly 20% off the lows, we believe it is time to map out potential areas where this rally could run into resistance. After this type of major waterfall decline there is often a test of the initial low - and there is often an undercut of the initial low. Barring approval of a first-line therapy for COVID-19 (chloroquine/hydroxychloroquine?) we are of the belief that a test of this initial low (likely 2-12 weeks out) and potentially an undercut of roughly 10% are likely.</p>

Now that the initial/primary low has been established and with the S&amp;P 500 roughly 20% off the lows, we believe it is time to map out potential areas where this rally could run into resistance. After this type of major waterfall decline there is often a test of the initial low - and there is often an undercut of the initial low. Barring approval of a first-line therapy for COVID-19 (chloroquine/hydroxychloroquine?) we are of the belief that a test of this initial low (likely 2-12 weeks out) and potentially an undercut of roughly 10% are likely.

United States

RLI Corp., through its subsidiaries, underwrites selected property, casualty, and surety insurance products.  The Company's principal subsidiary, RLI Insurance Group, provides specialty property and casualty coverages for primarily commercial risks.

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

Rli Corp (RLI US)

RLI Corp.: Expansion and Innovation in Surety Products & Major Drivers

RLI Corp. reported strong financial results for the second quarter of 2024, reflecting a comprehensive picture of growth and financial stability...

Baptista Research

RLI Corp.: Initiation of Coverage - A Tale Of Enhanced Digital Capabilities and Operational Efficiency! - Major Drivers

RLI Corp. commenced the year positively, reflecting double-digit growth and underwriting profitability across all segments. The company reported...

Baptista Research

Skyward Specialty Insurance: Leveraging Insurtech for Growth in Underserved Markets

Skyward Specialty’s focus on underserved, niche markets, with disciplined underwriting and innovative use of technology, positions it to drive...

Pyari Menon

U.S. Dollar (DXY) And Treasury Yields Breaking Out; Growing Number of Index/Sector Breakdowns

Odds of a deeper pullback to $SPX 4165-4200/the 200-day MA have increased following major breakouts in the U.S. dollar $DXY and Treasury yields...

Vermilion Research

U.S. Equities: Test Of The Lows Coming?

Now that the initial/primary low has been established and with the S&P 500 roughly 20% off the lows, we believe it is time to map out potential...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)