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>Robert Half International's fourth-quarter 2024 earnings results reveal a mixed performance, reflecting both challenges and opportunities.</li><li>The company reported global enterprise revenues of $1.382 billion, marking a decline of 6% from the previous year on a reported basis.</li><li>The net income per share for the quarter was $0.53, significantly down from $0.83 a year ago.</li></ul>

Robert Half International's fourth-quarter 2024 earnings results reveal a mixed performance, reflecting both challenges and opportunities.The company reported global enterprise revenues of $1.382 billion, marking a decline of 6% from the previous year on a reported basis.The net income per share for the quarter was $0.53, significantly down from $0.83 a year ago.

Robert Half Inc: The Expanding Demand for Protiviti's Services Is Arguably Its Biggest Growth Catalyst!

<ul><li>Robert Half, a prominent player in the staffing and business consulting sector, reported its third-quarter 2024 financial performance with revenues of $1.465 billion, a 6% decline from the previous year on an as-reported basis and an 8% decline on an as-adjusted basis.</li><li>The company's net income per share was $0.64, down from $0.90 in the same quarter last year.</li><li>However, both revenues and earnings surpassed the company's expectations, emphasizing strong performance from its consulting division, Protiviti, which experienced sequential and year-over-year revenue growth.</li></ul>

Robert Half, a prominent player in the staffing and business consulting sector, reported its third-quarter 2024 financial performance with revenues of $1.465 billion, a 6% decline from the previous year on an as-reported basis and an 8% decline on an as-adjusted basis.The company's net income per share was $0.64, down from $0.90 in the same quarter last year.However, both revenues and earnings surpassed the company's expectations, emphasizing strong performance from its consulting division, Protiviti, which experienced sequential and year-over-year revenue growth.

How Robert Half’s Jaw-Dropping Macroeconomic Strategy Could Ignite a Massive Hiring Frenzy! - Major Drivers

<ul><li>Robert Half, a global provider of specialized staffing and consulting services, reported its second quarter 2024 earnings, showcasing a blend of strengths and challenges within its business operations.</li><li>The company reported consolidated revenues of $1.473 billion, reflecting a 10% decrease from the previous year on both reported and adjusted bases.</li><li>This decline aligns with broader industry trends, where client and candidate caution is being observed amid macroeconomic uncertainties and interest rate concerns.</li></ul>

Robert Half, a global provider of specialized staffing and consulting services, reported its second quarter 2024 earnings, showcasing a blend of strengths and challenges within its business operations.The company reported consolidated revenues of $1.473 billion, reflecting a 10% decrease from the previous year on both reported and adjusted bases.This decline aligns with broader industry trends, where client and candidate caution is being observed amid macroeconomic uncertainties and interest rate concerns.

Robert Half International Inc.: Initiation Of Coverage - Geographic Realignment and Global Growth Efforts! - Major Drivers

US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

<ul>
<li>Index Committee's discretion decreases the predictability of index changes. Even when a company passes all eligibility criteria and thresholds, it might still not be selected.</li>
<li>Understanding triggers for index changes, types of additions/deletions and selection patterns, narrows down the pool of candidates and increases conviction of forecasts.</li>
<li>
<a href="https://www.smartkarma.com/entities/dell-technologies-inc" target="_blank" data-smartkarma-citation="entities:32189:1" rel="noopener">Dell Technologies (DELL US)</a> is currently the main candidate to be added by transition to the S&amp;P 500 in September 2024 Quarterly Rebalance.</li>
</ul>


Index Committee's discretion decreases the predictability of index changes. Even when a company passes all eligibility criteria and thresholds, it might still not be selected.
Understanding triggers for index changes, types of additions/deletions and selection patterns, narrows down the pool of candidates and increases conviction of forecasts.

Dell Technologies (DELL US) is currently the main candidate to be added by transition to the S&amp;P 500 in September 2024 Quarterly Rebalance.


S&P 500 / S&P 1500: Deriving Forecasts & First Prediction for September

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>On Friday, the S&amp;P index committee announced the June 2024 changes to the three major indices in the S&amp;P1500 universe. </li>
<li>KKR, Crowdstrike (CRWD), and GoDaddy (GDDY) replace Robert Half (RHI), Comerica (CMA), and Illumina (ILMN) in the S&amp;P500. There are 6 ADDs to S&amp;PMidCap400, 13 DELETEs from Sm600. </li>
<li>There are some BIG and impactful flows here. Some are very big. Netted 2-way flow on 21 June is ~US$66-80bn. But as always, details matter. </li>
</ul>


On Friday, the S&amp;P index committee announced the June 2024 changes to the three major indices in the S&amp;P1500 universe. 
KKR, Crowdstrike (CRWD), and GoDaddy (GDDY) replace Robert Half (RHI), Comerica (CMA), and Illumina (ILMN) in the S&amp;P500. There are 6 ADDs to S&amp;PMidCap400, 13 DELETEs from Sm600. 
There are some BIG and impactful flows here. Some are very big. Netted 2-way flow on 21 June is ~US$66-80bn. But as always, details matter. 


Jun24 S&P 500/400/600 Index Rebal - Both More and Less Interesting Than You Think, But 3 Big Buys

United States

Robert Half International, Inc. provides temporary and permanent staffing services.  The Company supplies temporary, full-time and project accounting and finance professionals; temporary administrative support personnel; information technology professionals; temporary, project and full-time lawyers, paralegals and support personnel; and advertising, marketing, and web design professionals.

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Robert Half Intl (RHI US)

Robert Half Inc: The Expanding Demand for Protiviti's Services Is Arguably Its Biggest Growth Catalyst!

Robert Half International's fourth-quarter 2024 earnings results reveal a mixed performance, reflecting both challenges and opportunities. The...

Baptista Research

How Robert Half’s Jaw-Dropping Macroeconomic Strategy Could Ignite a Massive Hiring Frenzy! - Major Drivers

Robert Half, a prominent player in the staffing and business consulting sector, reported its third-quarter 2024 financial performance with...

Baptista Research

Robert Half International Inc.: Initiation Of Coverage - Geographic Realignment and Global Growth Efforts! - Major Drivers

Robert Half, a global provider of specialized staffing and consulting services, reported its second quarter 2024 earnings, showcasing a blend of...

Baptista Research

S&P 500 / S&P 1500: Deriving Forecasts & First Prediction for September

S&P Index Committee's discretion reduces predictability of index changes. Identifying patterns and types of changes, narrows down the addition...

Dimitris Ioannidis

Jun24 S&P 500/400/600 Index Rebal - Both More and Less Interesting Than You Think, But 3 Big Buys

The S&P500/400/600 rebalance is interesting. As usual, some names will get overbought early, and others will not get bought enough. For a bunch of...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Robert Half Inc: The Expanding Demand for Protiviti's Services Is Arguably Its Biggest Growth Catalyst!

Robert Half International's fourth-quarter 2024 earnings results reveal a mixed performance, reflecting both challenges and opportunities. The...

Baptista Research

How Robert Half’s Jaw-Dropping Macroeconomic Strategy Could Ignite a Massive Hiring Frenzy! - Major Drivers

Robert Half, a prominent player in the staffing and business consulting sector, reported its third-quarter 2024 financial performance with...

Baptista Research

Robert Half International Inc.: Initiation Of Coverage - Geographic Realignment and Global Growth Efforts! - Major Drivers

Robert Half, a global provider of specialized staffing and consulting services, reported its second quarter 2024 earnings, showcasing a blend of...

Baptista Research

S&P 500 / S&P 1500: Deriving Forecasts & First Prediction for September

S&P ​Index Committee's discretion reduces predictability of index changes. Identifying patterns and types of changes, narrows down the addition...

Dimitris Ioannidis

Jun24 S&P 500/400/600 Index Rebal - Both More and Less Interesting Than You Think, But 3 Big Buys

The S&P500/400/600 rebalance is interesting. As usual, some names will get overbought early, and others will not get bought enough. For a bunch of...

Travis Lundy

S&P Index Committee's discretion reduces predictability of index changes. Identifying patterns and types of changes, narrows down the addition...