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>Comcast Corporation is preparing one of the boldest moves in its entertainment history: an investment of more than $8 billion to build Universal’s first European resort complex in Bedfordshire, England.</li><li>The project is expected to open in 2031, with Comcast spending more than £5 billion on construction and another £1 billion over the park’s first decade of operations, while the U.K. government plans roughly £1.3 billion in supporting infrastructure.</li><li>On the surface, this looks like a theme park story.</li></ul>

Comcast Corporation is preparing one of the boldest moves in its entertainment history: an investment of more than $8 billion to build Universal’s first European resort complex in Bedfordshire, England.The project is expected to open in 2031, with Comcast spending more than £5 billion on construction and another £1 billion over the park’s first decade of operations, while the U.K. government plans roughly £1.3 billion in supporting infrastructure.On the surface, this looks like a theme park story.

Comcast Is Building Europe’s Disney World — Brilliant Bet Or Reckless Gamble?

<ul><li>Comcast Corporation reported an 11% increase in first-quarter 2026 revenue, notably supported by high-profile events such as the Milan Cortina Winter Olympics and Super Bowl, which collectively contributed approximately $2.2 billion in incremental revenue.</li><li>Excluding these one-time events, the company's revenue growth was in the low single digits.</li><li>Adjusted EBITDA declined by 9%, influenced by investments in broadband strategy shifts, customer experience improvements, and a peak dilution related to the new NBA contract.</li></ul>

Comcast Corporation reported an 11% increase in first-quarter 2026 revenue, notably supported by high-profile events such as the Milan Cortina Winter Olympics and Super Bowl, which collectively contributed approximately $2.2 billion in incremental revenue.Excluding these one-time events, the company's revenue growth was in the low single digits.Adjusted EBITDA declined by 9%, influenced by investments in broadband strategy shifts, customer experience improvements, and a peak dilution related to the new NBA contract.

Comcast Corporation Is Scaling Wireless Fast—But Can Free Lines Truly Convert Into Profitable Revenue?

<ul><li>Comcast's fourth-quarter and full-year 2025 results reveal a mix of strategic initiatives and financial performance indicative of both challenges and opportunities in its diversified business segments.</li><li>Key takeaways include the company's ongoing transformation within its Connectivity & Platforms segment and its commitment to growth drivers such as wireless and broadband services.</li><li>A major highlight is Comcast's aggressive repositioning in its broadband business.</li></ul>

Comcast's fourth-quarter and full-year 2025 results reveal a mix of strategic initiatives and financial performance indicative of both challenges and opportunities in its diversified business segments.Key takeaways include the company's ongoing transformation within its Connectivity & Platforms segment and its commitment to growth drivers such as wireless and broadband services.A major highlight is Comcast's aggressive repositioning in its broadband business.

Comcast Corporation: How Can National Pricing and Simpler Packages Cut Churn?

US-EU Index & Corporate Actions Analyst, ORTEX

Harry Kalfas

US-EU Index & Corporate Actions Analyst

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>
<a href="https://www.smartkarma.com/entities/comcast-corp-class-a" target="_blank" data-smartkarma-citation="entities:1059:1" rel="noopener">Comcast Corp Class A (CMCSA US)</a> is spinning off a portfolio of its U.S. cable network assets into a standalone publicly listed company, Versant Media Group (VSNT US).</li>
<li>Versant Media Group is expected to list on January 5, 2026, with shares anticipated to trade on NASDAQ under a new ticker "VSNT".</li>
<li>The transaction is expected to trigger index implications across U.S. indexes, effective on an intra-quarter basis.</li>
</ul>



Comcast Corp Class A (CMCSA US) is spinning off a portfolio of its U.S. cable network assets into a standalone publicly listed company, Versant Media Group (VSNT US).
Versant Media Group is expected to list on January 5, 2026, with shares anticipated to trade on NASDAQ under a new ticker "VSNT".
The transaction is expected to trigger index implications across U.S. indexes, effective on an intra-quarter basis.


Comcast Spins Off Versant Media Group: US Index Implications Triggered

Founder at Stock Spin-off Investing, Stock Spin-Off Investing

Richard Howe

Founder at Stock Spin-off Investing

Stock Spin-Off Investing

Generate attractive returns by taking advantage of inefficiencies in the stock spin-off market.

Stock Spin-offs

Event-Driven

<ul><li><p>Comcast (CMCSA) plans to spin off its cable networks business, Versant (VSNT) in early 2026, with regular-way trading expected to begin on January 6, 2026.</p></li><li><p>Versant Media Group will be a pure-play cable networks and digital media company, comprising most of NBCUniversal’s U.S. cable channels and select digital platforms.</p></li><li>Its portfolio spans news, sports, and entertainment, including MS Now (formerly MSNBC), CNBC, USA Network, Syfy, E!, Oxygen True Crime, and Golf Channel, alongside digital businesses such as Fandango / Rotten Tomatoes, GolfNow / GolfPass, and SportsEngine.</li></ul>

Comcast (CMCSA) plans to spin off its cable networks business, Versant (VSNT) in early 2026, with regular-way trading expected to begin on January 6, 2026.Versant Media Group will be a pure-play cable networks and digital media company, comprising most of NBCUniversal’s U.S. cable channels and select digital platforms.Its portfolio spans news, sports, and entertainment, including MS Now (formerly MSNBC), CNBC, USA Network, Syfy, E!, Oxygen True Crime, and Golf Channel, alongside digital businesses such as Fandango / Rotten Tomatoes, GolfNow / GolfPass, and SportsEngine.

United States

Comcast Corporation provides media and television broadcasting services. The Company offers video streaming, television programming, high-speed internet, cable television, and communication services. Comcast serves customers worldwide.

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Comcast Corp Class A (CMCSA US)

Comcast Is Building Europe’s Disney World — Brilliant Bet Or Reckless Gamble?

Comcast Corporation is preparing one of the boldest moves in its entertainment history: an investment of more than $8 billion to build Universal’s...

Baptista Research

Comcast Corporation Is Scaling Wireless Fast—But Can Free Lines Truly Convert Into Profitable Revenue?

Comcast Corporation reported an 11% increase in first-quarter 2026 revenue, notably supported by high-profile events such as the Milan Cortina...

Baptista Research

Comcast Corporation: How Can National Pricing and Simpler Packages Cut Churn?

Comcast's fourth-quarter and full-year 2025 results reveal a mix of strategic initiatives and financial performance indicative of both challenges...

Baptista Research

Comcast Spins Off Versant Media Group: US Index Implications Triggered

Comcast is spinning off its U.S. cable networks into Versant Media Group (VSNT US), a pure-play media company. Versant will start trading on...

Harry Kalfas

Weekly Update (VSNT, NLOP, MEDXF )

Comcast (CMCSA) plans to spin off its cable networks business, Versant (VSNT) in early 2026, with regular-way trading expected to begin on January...

Richard Howe

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