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 Inc. reported a robust third quarter for 2025, demonstrating strong financial performance and strategic advancements across its business segments.</li><li>However, there are both positive factors and challenges that potential investors might want to consider when evaluating their investment in Corning.</li><li>Positively, Corning posted a year-over-year sales growth of 14% to $4.27 billion and an impressive 24% increase in earnings per share (EPS) to $0.67, with the operating margin expanding by 130 basis points to 19.6%.</li></ul>

Corning Inc. reported a robust third quarter for 2025, demonstrating strong financial performance and strategic advancements across its business segments.However, there are both positive factors and challenges that potential investors might want to consider when evaluating their investment in Corning.Positively, Corning posted a year-over-year sales growth of 14% to $4.27 billion and an impressive 24% increase in earnings per share (EPS) to $0.67, with the operating margin expanding by 130 basis points to 19.6%.

Corning Unveils What’s Next in Solar, Optical, and Auto Tech – Investors Take Note!

<ul><li>Corning Incorporated delivered solid results for the second quarter of 2025, showcasing both challenges and opportunities that suggest a nuanced outlook for investors.</li><li>The company achieved record sales of $4 billion, representing a 12% growth year-over-year, and an earnings per share (EPS) increase of 28% to $0.60.</li><li>The operating margin expanded by 160 basis points to 19%, contributing to a return on invested capital of 13.1%.</li></ul>

Corning Incorporated delivered solid results for the second quarter of 2025, showcasing both challenges and opportunities that suggest a nuanced outlook for investors.The company achieved record sales of $4 billion, representing a 12% growth year-over-year, and an earnings per share (EPS) increase of 28% to $0.60.The operating margin expanded by 160 basis points to 19%, contributing to a return on invested capital of 13.1%.

Corning’s Dual Play in Solar & Auto Glass—Can This Strategy Ignite the Next Growth Supercycle?

<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

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 remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).</li>
<li>We have discussed weekly since 10/14/25 how our near-term bullish outlook remains intact as long as SPX holds above the 3-month uptrend, coinciding with the 50-day MA; this remains true.</li>
<li>Gold (GLD) and silver (SLV) held above $358-$361 and $41.70 supports and appear ready to resume their long-term uptrends. Recently discussed we were buyers in our October 29th report</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).
We have discussed weekly since 10/14/25 how our near-term bullish outlook remains intact as long as SPX holds above the 3-month uptrend, coinciding with the 50-day MA; this remains true.
Gold (GLD) and silver (SLV) held above $358-$361 and $41.70 supports and appear ready to resume their long-term uptrends. Recently discussed we were buyers in our October 29th report


Upside Ahead for Gold and Silver; DXY Below $100.25; SPX Holding at 3+ Month Uptrend Support

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 Unveils What’s Next in Solar, Optical, and Auto Tech – Investors Take Note!

Corning Inc. reported a robust third quarter for 2025, demonstrating strong financial performance and strategic advancements across its business...

Baptista Research

Corning’s Dual Play in Solar & Auto Glass—Can This Strategy Ignite the Next Growth Supercycle?

Corning Incorporated delivered solid results for the second quarter of 2025, showcasing both challenges and opportunities that suggest a nuanced...

Baptista Research

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

Upside Ahead for Gold and Silver; DXY Below $100.25; SPX Holding at 3+ Month Uptrend Support

More Upside Ahead for Gold $GLD and Silver $SLV Following Oct. 29 Buys; $DXY Below $100.25 a Risk-On Signal; Downgrading Services to Market Weight;...

Vermilion Research

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