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>JetBlue’s recent sale speculation has been framed as if the airline suddenly became a prized strategic asset, but the more revealing interpretation is that the company has spent the past two years trying to regain financial balance while the industry around it keeps getting harder for midsized carriers.</li><li>Management used its latest earnings call to emphasize operational gains, better customer satisfaction, stronger premium traction, and a path back to breakeven profitability, yet those improvements also highlight how much repair work is still underway.</li><li>The company finished 2025 with a negative adjusted operating margin, continues to target free cash flow only by the end of 2027, and still needs outside financing in 2026 even as it promotes a transformation plan built around premium products, loyalty, network refinement, and its United collaboration.</li></ul>

JetBlue’s recent sale speculation has been framed as if the airline suddenly became a prized strategic asset, but the more revealing interpretation is that the company has spent the past two years trying to regain financial balance while the industry around it keeps getting harder for midsized carriers.Management used its latest earnings call to emphasize operational gains, better customer satisfaction, stronger premium traction, and a path back to breakeven profitability, yet those improvements also highlight how much repair work is still underway.The company finished 2025 with a negative adjusted operating margin, continues to target free cash flow only by the end of 2027, and still needs outside financing in 2026 even as it promotes a transformation plan built around premium products, loyalty, network refinement, and its United collaboration.

JetBlue’s Survival Question: Can It Stay Independent In A Big 3 World?

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
 <li>Following the termination of the Spirit Airlines merger agreement, JetBlue is refocusing on its standalone organic strategy, prioritizing a return to profitability through cost discipline and network optimization.</li>
 <li>The company operates a hybrid business model, aiming to provide a superior customer experience with more amenities than ultra-low-cost carriers (ULCCs) but at a lower price point than legacy airlines, with its premium 'Mint' service being a key differentiator.</li>
 <li>JetBlue faces significant headwinds, including persistent unprofitability, high operating costs, intense industry competition, and execution risk associated with its turnaround plan.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  Following the termination of the Spirit Airlines merger agreement, JetBlue is refocusing on its standalone organic strategy, prioritizing a return to profitability through cost discipline and network optimization.
  The company operates a hybrid business model, aiming to provide a superior customer experience with more amenities than ultra-low-cost carriers (ULCCs) but at a lower price point than legacy airlines, with its premium 'Mint' service being a key differentiator.
  JetBlue faces significant headwinds, including persistent unprofitability, high operating costs, intense industry competition, and execution risk associated with its turnaround plan.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Jetblue Airways (JBLU US) - Jan 2026

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Macroeconomics

<ul>
<li>The bear market rally in the US stock market continues as investors try to justify the tariffication of global trade and ignore its economic consequences. A FREE LUNCH.</li>
<li>Soft and hard economic indicators in the US are falling, with some alarming numbers in the travel industry.</li>
<li>US companies face potential blowback from Chinese consumers that provide 7% of S&amp;P revenue. </li>
</ul>


The bear market rally in the US stock market continues as investors try to justify the tariffication of global trade and ignore its economic consequences. A FREE LUNCH.
Soft and hard economic indicators in the US are falling, with some alarming numbers in the travel industry.
US companies face potential blowback from Chinese consumers that provide 7% of S&amp;P revenue. 


Don't Swim Naked: TIME TO PUT YOUR SHORTS ON!

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

As the S&amp;P 500 pulls back to logical support at 3870, our weight-of-the-evidence approach continues to support our overall bullish outlook. While the positives heavily outweigh the negatives, the rising 10-year Treasury yield is threatening to become a headwind. In today’s report we highlight attractive Groups and stocks within Materials and Transportation.

As the S&amp;P 500 pulls back to logical support at 3870, our weight-of-the-evidence approach continues to support our overall bullish outlook. While the positives heavily outweigh the negatives, the rising 10-year Treasury yield is threatening to become a headwind. In today’s report we highlight attractive Groups and stocks within Materials and Transportation.

S&P 500 Testing 3870 Support; 10-Year Yield In Focus

Market Intelligence, ORTEX

ORTEX Market Intel

Market Intelligence

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.

Equity Derivatives

Banco Bilbao Vizcaya Argentari / Equity Derivatives

<ul><li>Options markets flashed a split signal this week.</li><li>European financials drew the most persistent put-buying of the period, while select US names saw call buyers overwhelm hedgers.</li><li>Earnings-linked hedging dominated mid-week flows, with several 52-week PCR records broken in both directions.</li></ul>

Options markets flashed a split signal this week.European financials drew the most persistent put-buying of the period, while select US names saw call buyers overwhelm hedgers.Earnings-linked hedging dominated mid-week flows, with several 52-week PCR records broken in both directions.

Options Weekly: Bears Circle Banks, Bulls Chase Storage and Discretionary

United States

JetBlue Airways Corporation provides nonstop passenger flight service through its Airbus A320 aircraft.  The Company's airline is based in New York's John F. Kennedy Airport and currently flies to various destinations in the United States.

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Jetblue Airways (JBLU US)

JetBlue’s Survival Question: Can It Stay Independent In A Big 3 World?

JetBlue’s recent sale speculation has been framed as if the airline suddenly became a prized strategic asset, but the more revealing...

Baptista Research

Primer: Jetblue Airways (JBLU US) - Jan 2026

Following the termination of the Spirit Airlines merger agreement, JetBlue is refocusing on its standalone organic strategy, prioritizing a...

αSK Primers

Don't Swim Naked: TIME TO PUT YOUR SHORTS ON!

Bear market rally in US market continues as investors justify the tariffication of global trade but ignore its consequences. US co.s face blowback...

David Mudd

S&P 500 Testing 3870 Support; 10-Year Yield In Focus

As the S&P 500 pulls back to logical support at 3870. In today’s report we highlight attractive Groups and stocks within Materials and Transportation.

Vermilion Research

Options Weekly: Bears Circle Banks, Bulls Chase Storage and Discretionary

Options markets flashed a split signal this week. European financials drew the most persistent put-buying of the period, while select US names saw...

ORTEX Market Intel

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