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 recently concluded its fourth quarter and full-year 2025 earnings announcement, highlighting mixed outcomes from its financial and operational performance.</li><li>The company delivered an adjusted EBIT at the high end of its guidance range, alongside a total return of 54% for its investors.</li><li>GM's growth is attributed to its highest U.S. market share in a decade, marking four consecutive years of market share increase, particularly in full-size pickups, SUVs, and crossover vehicles like the Chevrolet Equinox and Chevrolet Trax.</li></ul>

General Motors Company recently concluded its fourth quarter and full-year 2025 earnings announcement, highlighting mixed outcomes from its financial and operational performance.The company delivered an adjusted EBIT at the high end of its guidance range, alongside a total return of 54% for its investors.GM's growth is attributed to its highest U.S. market share in a decade, marking four consecutive years of market share increase, particularly in full-size pickups, SUVs, and crossover vehicles like the Chevrolet Equinox and Chevrolet Trax.

General Motors Is Building a Software-Defined Future—and It’s Bigger Than Evs!

<ul><li>Sterling Anderson’s journey from clashing with Elon Musk to reshaping General Motors may be one of the most unexpected executive arcs in recent auto industry history.</li><li>Once a Tesla Autopilot leader and co-founder of the autonomous trucking company Aurora, Anderson joined GM in June 2025 as Chief Product Officer.</li><li>What seemed like a puzzling career move at the time has since evolved into one of the most intriguing leadership shifts in the industry.</li></ul>

Sterling Anderson’s journey from clashing with Elon Musk to reshaping General Motors may be one of the most unexpected executive arcs in recent auto industry history.Once a Tesla Autopilot leader and co-founder of the autonomous trucking company Aurora, Anderson joined GM in June 2025 as Chief Product Officer.What seemed like a puzzling career move at the time has since evolved into one of the most intriguing leadership shifts in the industry.

General Motors Hires Elon Musk’s Old Foe—Is This the End of Detroit as We Know It?

<ul><li>General Motors Company (GM) reported robust performance in the third quarter of 2025, marked by several noteworthy developments and shifts in strategy, even as it navigates a complex operating environment.</li><li>Both positive and challenging aspects are highlighted in the results outlined during their latest earnings call.</li><li>GM's financial performance was strong, with a U.S. market share of 17%, the highest third-quarter market share since 2017.</li></ul>

General Motors Company (GM) reported robust performance in the third quarter of 2025, marked by several noteworthy developments and shifts in strategy, even as it navigates a complex operating environment.Both positive and challenging aspects are highlighted in the results outlined during their latest earnings call.GM's financial performance was strong, with a U.S. market share of 17%, the highest third-quarter market share since 2017.

General Motors (GM) Just Hit Its Highest Market Share in 8 Years—But There's a $1.6 Billion Problem!

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>Core PCE and CPI inflation remained at 4-year lows in Apr-May'25 despite Trump's tariffs, although June core CPI inflation crept up MoM after further tariff hikes (on steel and aluminium).</li>
<li>M2 growth of just 5.2%YoY (May'25) is a restraining factor on inflation. However, tariff hikes have been much higher than we expected, with most trading partners failing to negotiate reductions. </li>
<li>For consistency with 2024 cuts, the FOMC likely will cut rates this month. But the tariff hikes on most trading partners will push core inflation toward 3%, disallowing further cuts. </li>
</ul>


Core PCE and CPI inflation remained at 4-year lows in Apr-May'25 despite Trump's tariffs, although June core CPI inflation crept up MoM after further tariff hikes (on steel and aluminium).
M2 growth of just 5.2%YoY (May'25) is a restraining factor on inflation. However, tariff hikes have been much higher than we expected, with most trading partners failing to negotiate reductions. 
For consistency with 2024 cuts, the FOMC likely will cut rates this month. But the tariff hikes on most trading partners will push core inflation toward 3%, disallowing further cuts. 


US: Subdued Inflation to Oblige a Reluctant Fed to Cut This Month, but No More in '25

Global Materials | Industrials | Commodities

Rahul Jain

Thematic (Sector/Industry)

<ul>
<li>The U.S. has doubled tariffs on imported steel and aluminum to 50%, citing national security and domestic industry protection.</li>
<li>The move is expected to raise domestic prices, reduce imports, and increase costs for metal-intensive industries.</li>
<li>Winners include U.S.-based producers like Nucor, United States Steel, Cleveland Cliffs and Century Aluminum; losers are foreign exporters like Aloca, RioTinto, Nippon Steel, Ford, GM etc.</li>
</ul>


The U.S. has doubled tariffs on imported steel and aluminum to 50%, citing national security and domestic industry protection.
The move is expected to raise domestic prices, reduce imports, and increase costs for metal-intensive industries.
Winners include U.S.-based producers like Nucor, United States Steel, Cleveland Cliffs and Century Aluminum; losers are foreign exporters like Aloca, RioTinto, Nippon Steel, Ford, GM etc.


Tariff Surge 2025: Winners, Losers, and the Real Impact on U.S. Steel and Aluminium

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

General Motors (GM US)

General Motors Is Building a Software-Defined Future—and It’s Bigger Than Evs!

General Motors Company recently concluded its fourth quarter and full-year 2025 earnings announcement, highlighting mixed outcomes from its...

Baptista Research

General Motors Hires Elon Musk’s Old Foe—Is This the End of Detroit as We Know It?

Sterling Anderson’s journey from clashing with Elon Musk to reshaping General Motors may be one of the most unexpected executive arcs in recent...

Baptista Research

US: Subdued Inflation to Oblige a Reluctant Fed to Cut This Month, but No More in '25

Despite Trump's tariffs, inflation remained low in Apr-May'25, so a July rate cut is likely. But tariffs on most trade partners from Aug'25 (worse...

Prasenjit K. Basu

Tariff Surge 2025: Winners, Losers, and the Real Impact on U.S. Steel and Aluminium

The U.S. Midwest aluminum premium spiked by 54% on Monday and 164% YTD to $0.58/lb on June 2, driven by new tariffs and typical early-month...

Rahul Jain

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

General Motors Is Building a Software-Defined Future—and It’s Bigger Than Evs!

General Motors Company recently concluded its fourth quarter and full-year 2025 earnings announcement, highlighting mixed outcomes from its...

Baptista Research

General Motors Hires Elon Musk’s Old Foe—Is This the End of Detroit as We Know It?

Sterling Anderson’s journey from clashing with Elon Musk to reshaping General Motors may be one of the most unexpected executive arcs in recent...

Baptista Research

General Motors (GM) Just Hit Its Highest Market Share in 8 Years—But There's a $1.6 Billion Problem!

General Motors Company (GM) reported robust performance in the third quarter of 2025, marked by several noteworthy developments and shifts in...

Baptista Research

US: Subdued Inflation to Oblige a Reluctant Fed to Cut This Month, but No More in '25

​Despite Trump's tariffs, inflation remained low in Apr-May'25, so a July rate cut is likely. But tariffs on most trade partners from Aug'25 (worse...

Prasenjit K. Basu

Tariff Surge 2025: Winners, Losers, and the Real Impact on U.S. Steel and Aluminium

The U.S. Midwest aluminum premium spiked by 54% on Monday and 164% YTD to $0.58/lb on June 2, driven by new tariffs and typical early-month...

Rahul Jain

Despite Trump's tariffs, inflation remained low in Apr-May'25, so a July rate cut is likely. But tariffs on most trade partners from Aug'25 (worse...