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>General Motors Company reported its first-quarter 2025 financial results, highlighting a complex environment marked by significant policy shifts and evolving market dynamics.</li><li>The company's revenue for the quarter reached $44 billion, marking a 2% year-over-year increase.</li><li>GM also achieved $3.5 billion in adjusted EBIT and $2.78 in adjusted diluted EPS, though EBIT-adjusted margins stood at 7.9%, slightly down from the previous year.</li></ul>

General Motors Company reported its first-quarter 2025 financial results, highlighting a complex environment marked by significant policy shifts and evolving market dynamics.The company's revenue for the quarter reached $44 billion, marking a 2% year-over-year increase.GM also achieved $3.5 billion in adjusted EBIT and $2.78 in adjusted diluted EPS, though EBIT-adjusted margins stood at 7.9%, slightly down from the previous year.

General Motors (GM): Expansion in Electric Vehicle Production

<ul><li>General Motors is facing turbulent headwinds in 2025, driven primarily by a resurgent trade war between the U.S. and Canada.</li><li>The Detroit automaker recently suspended production at its BrightDrop electric vehicle (EV) plant in Ingersoll, Ontario, triggering nearly 500 indefinite layoffs and marking a significant blow to Canada's already struggling auto sector.</li><li>This move comes amid the fallout from President Donald Trump’s 25% tariff on foreign-made cars, which has forced Canada to retaliate with its own 25% duties on U.S.-built vehicles.</li></ul>

General Motors is facing turbulent headwinds in 2025, driven primarily by a resurgent trade war between the U.S. and Canada.The Detroit automaker recently suspended production at its BrightDrop electric vehicle (EV) plant in Ingersoll, Ontario, triggering nearly 500 indefinite layoffs and marking a significant blow to Canada's already struggling auto sector.This move comes amid the fallout from President Donald Trump’s 25% tariff on foreign-made cars, which has forced Canada to retaliate with its own 25% duties on U.S.-built vehicles.

General Motors vs. The Tariff Tsunami: Can The Auto Giant Stay In Gear?

<ul><li>General Motors Company (GM) presented its financial results for the fourth quarter and calendar year of 2024, showcasing a series of strategic decisions and market maneuvers that paint a complex picture for potential investors.</li><li>On the positive side, GM achieved significant growth with a 9% increase in full-year revenue, reaching $187 billion.</li><li>The company marked a strong presence in the U.S. by becoming the leader in retail, fleet, and total sales, and it reported record figures in EBIT-adjusted, adjusted automotive free cash flow, and EPS diluted adjusted.</li></ul>

General Motors Company (GM) presented its financial results for the fourth quarter and calendar year of 2024, showcasing a series of strategic decisions and market maneuvers that paint a complex picture for potential investors.On the positive side, GM achieved significant growth with a 9% increase in full-year revenue, reaching $187 billion.The company marked a strong presence in the U.S. by becoming the leader in retail, fleet, and total sales, and it reported record figures in EBIT-adjusted, adjusted automotive free cash flow, and EPS diluted adjusted.

General Motors (GM): Its Electric Vehicle Transition Is A Double-Edged Sword! - Major Drivers

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

<ul>
<li>GM announced it will no longer continue to fund its loss making Cruise subsidiary, effectively ending its RoboTaxi ambition. Market reaction? Nothing.</li>
<li>Microsoft has already announced it will write off its $800 million investment made back in 2021 when Cruise was valued at $30 billion</li>
<li>Root cause? The tsunami that was triggered by Cruise's botched response to an accident in October 2023. </li>
</ul>


GM announced it will no longer continue to fund its loss making Cruise subsidiary, effectively ending its RoboTaxi ambition. Market reaction? Nothing.
Microsoft has already announced it will write off its $800 million investment made back in 2021 when Cruise was valued at $30 billion
Root cause? The tsunami that was triggered by Cruise's botched response to an accident in October 2023. 


General Motors Abruptly Pulls The Plug On Cruise

Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Macroeconomics

<ul>
<li>US tariff agreements have contained tariffs at 10% for the UK, 15% for Japan and the EU, 19% for Indonesia and 20% for Vietnam. Lower tariffs will dampen inflation. </li>
<li>FOMC ought to cut rates now, but may stand on ceremony. The tariffs are nonetheless likely to steadily bolster US manufacturing in H2/2025, with Jun'25 steel output already up 4.6%YoY. </li>
<li>With growth higher than expected, and new revenues of over US$300bn from tariffs, the fiscal deficit should fall below 6% of GDP, allowing bond yields to moderate below 4%. </li>
</ul>


US tariff agreements have contained tariffs at 10% for the UK, 15% for Japan and the EU, 19% for Indonesia and 20% for Vietnam. Lower tariffs will dampen inflation. 
FOMC ought to cut rates now, but may stand on ceremony. The tariffs are nonetheless likely to steadily bolster US manufacturing in H2/2025, with Jun'25 steel output already up 4.6%YoY. 
With growth higher than expected, and new revenues of over US$300bn from tariffs, the fiscal deficit should fall below 6% of GDP, allowing bond yields to moderate below 4%. 


US: Tariff Deals with Japan, EU, Indonesia, Philippines Sharply Reduce Stagflation Risk

United States

General Motors Co. manufactures and markets new cars and trucks. The Company offers features for special needs drivers, OnStar vehicle protection, service, parts, accessories, maintenance, XM satellite radio, features for commercial owners, and more. General Motors offers its vehicles and services worldwide.

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General Motors (GM US)

General Motors (GM): Expansion in Electric Vehicle Production

General Motors Company reported its first-quarter 2025 financial results, highlighting a complex environment marked by significant policy shifts...

Baptista Research

General Motors vs. The Tariff Tsunami: Can The Auto Giant Stay In Gear?

General Motors is facing turbulent headwinds in 2025, driven primarily by a resurgent trade war between the U.S. and Canada. The Detroit automaker...

Baptista Research

General Motors (GM): Its Electric Vehicle Transition Is A Double-Edged Sword! - Major Drivers

General Motors Company (GM) presented its financial results for the fourth quarter and calendar year of 2024, showcasing a series of strategic...

Baptista Research

General Motors Abruptly Pulls The Plug On Cruise

GM announced it will no longer continue to fund its loss making Cruise subsidiary, effectively ending its RoboTaxi ambition. Market reaction?...

William Keating

US: Tariff Deals with Japan, EU, Indonesia, Philippines Sharply Reduce Stagflation Risk

US tariff deals lowering them will help dampen inflation, and should trigger rate cuts. Tariffs are already boosting US manufacturing, thus will...

Prasenjit K. Basu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

General Motors (GM): Expansion in Electric Vehicle Production

General Motors Company reported its first-quarter 2025 financial results, highlighting a complex environment marked by significant policy shifts...

Baptista Research

General Motors vs. The Tariff Tsunami: Can The Auto Giant Stay In Gear?

General Motors is facing turbulent headwinds in 2025, driven primarily by a resurgent trade war between the U.S. and Canada. The Detroit automaker...

Baptista Research

General Motors (GM): Its Electric Vehicle Transition Is A Double-Edged Sword! - Major Drivers

General Motors Company (GM) presented its financial results for the fourth quarter and calendar year of 2024, showcasing a series of strategic...

Baptista Research

General Motors Abruptly Pulls The Plug On Cruise

GM announced it will no longer continue to fund its loss making Cruise subsidiary, effectively ending its RoboTaxi ambition. Market reaction?...

William Keating

US: Tariff Deals with Japan, EU, Indonesia, Philippines Sharply Reduce Stagflation Risk

​US tariff deals lowering them will help dampen inflation, and should trigger rate cuts. Tariffs are already boosting US manufacturing, thus will...

Prasenjit K. Basu

US tariff deals lowering them will help dampen inflation, and should trigger rate cuts. Tariffs are already boosting US manufacturing, thus will...