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>Corning Incorporated's first-quarter 2025 results show notable performance surpassing guidance, with a 13% year-over-year increase in sales reaching $3.7 billion and a significant growth in EPS, which tripled at a rate faster than sales.</li><li>The company also improved its operating margin by 250 basis points, rising to 18%.</li><li>This performance underscores the positive trajectory as Corning embarks on its second year of the Springboard plan, aiming to add more than $4 billion in annualized sales and elevate operating margins to 20% by 2026.</li></ul>

Corning Incorporated's first-quarter 2025 results show notable performance surpassing guidance, with a 13% year-over-year increase in sales reaching $3.7 billion and a significant growth in EPS, which tripled at a rate faster than sales.The company also improved its operating margin by 250 basis points, rising to 18%.This performance underscores the positive trajectory as Corning embarks on its second year of the Springboard plan, aiming to add more than $4 billion in annualized sales and elevate operating margins to 20% by 2026.

Corning Incorporated: Advancements in Automotive Glass Solutions & Key Growth Catalysts!

<ul><li>Corning Incorporated has reported strong fourth quarter and full-year 2024 results, successfully capping off the first year of its Springboard growth plan.</li><li>The company's sales for the fourth quarter surged by 18% year-over year to $3.9 billion, marking a record high.</li><li>Correspondingly, the company saw a 46% increase in EPS, reaching $0.57, and expanded its operating margin by 220 basis points to 18.5%.</li></ul>

Corning Incorporated has reported strong fourth quarter and full-year 2024 results, successfully capping off the first year of its Springboard growth plan.The company's sales for the fourth quarter surged by 18% year-over year to $3.9 billion, marking a record high.Correspondingly, the company saw a 46% increase in EPS, reaching $0.57, and expanded its operating margin by 220 basis points to 18.5%.

Corning Incorporated: Broadening Participation in Solar & Advanced Automotive Solutions For Upping Their Game! - Major Drivers

<ul><li>Corning Incorporated's recent earnings for the third quarter of 2024 reveals a healthy operational and financial trajectory characterized by robust sales growth and notable strategic advancements.</li><li>The company reported an 8% increase year-over-year in sales, amounting to $3.73 billion, and a significant 20% rise in earnings per share (EPS) to $0.54.</li><li>This performance is largely attributed to the growth in the Optical Communications segment, which saw a 55% increase in its enterprise business, driven by the adoption of new optical connectivity products for generative AI.</li></ul>

Corning Incorporated's recent earnings for the third quarter of 2024 reveals a healthy operational and financial trajectory characterized by robust sales growth and notable strategic advancements.The company reported an 8% increase year-over-year in sales, amounting to $3.73 billion, and a significant 20% rise in earnings per share (EPS) to $0.54.This performance is largely attributed to the growth in the Optical Communications segment, which saw a 55% increase in its enterprise business, driven by the adoption of new optical connectivity products for generative AI.

Corning Incorporated: Expanding High-Speed Fiber Networks & Advancements in Optical Communications As Critical Growth Catalysts! - Major Drivers

<ul><li>Corning Inc. reported strong second quarter results for 2024, surpassing its sales and EPS guidance.</li><li>This positive performance was largely driven by the rapid uptake of its new optical connectivity products designed for generative AI applications.</li><li>These products cater to a new network within data centers which requires significantly higher bandwidth to connect GPUs, resulting in roughly ten times more fiber connections compared to traditional setups.</li></ul>

Corning Inc. reported strong second quarter results for 2024, surpassing its sales and EPS guidance.This positive performance was largely driven by the rapid uptake of its new optical connectivity products designed for generative AI applications.These products cater to a new network within data centers which requires significantly higher bandwidth to connect GPUs, resulting in roughly ten times more fiber connections compared to traditional setups.

Corning Incorporated: Strategic Pricing Developments & Expansion into Optical Connectivity Solutions for GenAI! - Major Drivers

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>The Fed injected some volatility into the market after their December meeting, as they noted an uncertain inflation outlook and the SEP less expected rate cuts for 2025.</li>
<li>We discussed in our latest report (12/23/24 ETF Pathfinder), and continue to believe, that this is a buying opportunity.</li>
<li>Market dynamics remain risk-on, the SPX remains above 5850 (a key support level we have discussed since late-November), mid-caps (IJH) and small-caps (IWM) are above supports at $61.50 and $218</li>
</ul>


The Fed injected some volatility into the market after their December meeting, as they noted an uncertain inflation outlook and the SEP less expected rate cuts for 2025.
We discussed in our latest report (12/23/24 ETF Pathfinder), and continue to believe, that this is a buying opportunity.
Market dynamics remain risk-on, the SPX remains above 5850 (a key support level we have discussed since late-November), mid-caps (IJH) and small-caps (IWM) are above supports at $61.50 and $218


Semiconductors Re-Emerge as Leadership; $SPX $QQQ $IWM Outlook Remains Bullish

United States

Corning Incorporated is a global, technology-based company. The Company produces optical fiber, cable, and photonic components for the telecommunications industry, as well as manufactures glass panels, funnels, liquid crystal display glass and projection video lens assemblies for the information display industry.

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Corning Inc (GLW US)

Corning Incorporated: Advancements in Automotive Glass Solutions & Key Growth Catalysts!

Corning Incorporated's first-quarter 2025 results show notable performance surpassing guidance, with a 13% year-over-year increase in sales...

Baptista Research

Corning Incorporated: Broadening Participation in Solar & Advanced Automotive Solutions For Upping Their Game! - Major Drivers

Corning Incorporated has reported strong fourth quarter and full-year 2024 results, successfully capping off the first year of its Springboard...

Baptista Research

Corning Incorporated: Expanding High-Speed Fiber Networks & Advancements in Optical Communications As Critical Growth Catalysts! - Major Drivers

Corning Incorporated's recent earnings for the third quarter of 2024 reveals a healthy operational and financial trajectory characterized by...

Baptista Research

Corning Incorporated: Strategic Pricing Developments & Expansion into Optical Connectivity Solutions for GenAI! - Major Drivers

Corning Inc. reported strong second quarter results for 2024, surpassing its sales and EPS guidance. This positive performance was largely driven...

Baptista Research

Semiconductors Re-Emerge as Leadership; $SPX $QQQ $IWM Outlook Remains Bullish

Semiconductors Re-Emerge as Leadership $SMH $TSM $NVDA; $SPX $QQQ $IWM Outlook Remains Bullish Despite Recent Consolidation. Market Dynamics Remain...

Vermilion Research

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