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

VanEck Gold Miners ETF/USA / Technical Analysis

<ul>
<li>The SPX made a high of 4169 last week, tagging our 4165-4200 resistance range. We still believe 4165-4200 will cap upside in 2023, with a reach to 4300-4325 also possible.</li>
<li>Considering limited upside in both scenarios, and with the seasonably weaker "sell in May and go away" period approaching, we continue to recommend higher allocations to defensives</li>
<li>This includes Utilities (XLU, RYU), Consumer Staples (XLP), Health Care (XLV, PPH), and gold miners (GDX).</li>
</ul>


The SPX made a high of 4169 last week, tagging our 4165-4200 resistance range. We still believe 4165-4200 will cap upside in 2023, with a reach to 4300-4325 also possible.
Considering limited upside in both scenarios, and with the seasonably weaker "sell in May and go away" period approaching, we continue to recommend higher allocations to defensives
This includes Utilities (XLU, RYU), Consumer Staples (XLP), Health Care (XLV, PPH), and gold miners (GDX).


"Sell in May" Another Reason to Be Defensive; Value to Lead?; Buys in Medical Devices, Footwear

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>Skechers had a solid result in the last quarter, reaching $7.4 billion in sales annually, an astounding rise of over $1.1 billion year over year, driven by worldwide expansion across all channels.</li><li>Sales in the Americas increased 22% year over year in the fourth quarter to $925.6 million, driven by double-digit growth in every channel.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Skechers had a solid result in the last quarter, reaching $7.4 billion in sales annually, an astounding rise of over $1.1 billion year over year, driven by worldwide expansion across all channels.Sales in the Americas increased 22% year over year in the fourth quarter to $925.6 million, driven by double-digit growth in every channel.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Skechers Inc.: Key Drivers, Financial Forecasts, DCF & Comparables Valuation, Key Risks (02/23)

<ul><li>With the Skechers results just around the corner, it would be interesting to see how the company has performed in the previous quarter.</li><li>Last quarter, the company set a new quarterly sales record of $1.88 billion which was well above Wall Street expectations.</li><li>Its direct-to-consumer and wholesale businesses experienced double-digit growth given the strength in their retail stores and digital platforms.</li></ul>

With the Skechers results just around the corner, it would be interesting to see how the company has performed in the previous quarter.Last quarter, the company set a new quarterly sales record of $1.88 billion which was well above Wall Street expectations.Its direct-to-consumer and wholesale businesses experienced double-digit growth given the strength in their retail stores and digital platforms.

<ul><li>Skechers had a solid quarter and surpassed Wall Street expectations in terms of revenues with strong growth that was distributed geographically and is evident in both its Direct-to-consumer and wholesale segments in spite of Covid-19 headwinds in various markets.</li><li>During the quarter, the wholesale business of the U.S. increased because of improvements in categories and genders, including accessory and apparel lines.</li><li>In the quarter, Skechers opened 46 stores owned by the company, which included 15 large box shores in the US.</li></ul>

Skechers had a solid quarter and surpassed Wall Street expectations in terms of revenues with strong growth that was distributed geographically and is evident in both its Direct-to-consumer and wholesale segments in spite of Covid-19 headwinds in various markets.During the quarter, the wholesale business of the U.S. increased because of improvements in categories and genders, including accessory and apparel lines.In the quarter, Skechers opened 46 stores owned by the company, which included 15 large box shores in the US.

Skechers USA: Collaboration With Tokidoki & Other Drivers

Equity Capital Markets

Skechers Usa Inc Cl A / Equity Capital Markets

<ul><li>Skechers started 2022 on a positive note with quarterly sales of over $1.8 billion, a growth of nearly 27%.</li><li>The revenue growth split that the company saw was a domestic growth of 29% and international growth of 26% and it was driven by global consumer demand for its comfort products, bolstered by its multimedia marketing.</li><li>Skechers’ entire international business now accounts for 57% of their sales and the management has worked on strong brand recognition worldwide.</li></ul>

Skechers started 2022 on a positive note with quarterly sales of over $1.8 billion, a growth of nearly 27%.The revenue growth split that the company saw was a domestic growth of 29% and international growth of 26% and it was driven by global consumer demand for its comfort products, bolstered by its multimedia marketing.Skechers’ entire international business now accounts for 57% of their sales and the management has worked on strong brand recognition worldwide.

Skechers USA Inc: Entry Into The Metaverse & Other Drivers

United States

Skechers U.S.A., Inc. designs and markets branded contemporary casual, active, rugged, and lifestyle footwear for men, women, and children.  The Company sells its products to department stores and specialty retailers.  Skechers also sells its products internationally through distributors and directly to consumers through its own retail stores.

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Skechers Usa Inc Cl A (SKX US)

"Sell in May" Another Reason to Be Defensive; Value to Lead?; Buys in Medical Devices, Footwear

"Sell in May" Another Reason to Be Defensive; Value Poised to Outperform?; Watching Semiconductors $SOXX $XSD and Banks $KRE $KBE for breakage....

Vermilion Research

Skechers Inc.: Key Drivers, Financial Forecasts, DCF & Comparables Valuation, Key Risks (02/23)

Skechers had a solid result in the last quarter, reaching $7.4 billion in sales annually, an astounding rise of over $1.1 billion year over year,...

Baptista Research

Skechers USA Inc: Major Drivers

With the Skechers results just around the corner, it would be interesting to see how the company has performed in the previous quarter. Last...

Baptista Research

Skechers USA: Collaboration With Tokidoki & Other Drivers

Skechers had a solid quarter and surpassed Wall Street expectations in terms of revenues with strong growth that was distributed geographically...

Baptista Research

Skechers USA Inc: Entry Into The Metaverse & Other Drivers

Skechers started 2022 on a positive note with quarterly sales of over $1.8 billion, a growth of nearly 27%. The revenue growth split that the...

Baptista Research

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