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

The S&amp;P 500 and Nasdaq 100 are within striking distance of all-time highs and we believe breakouts are on the horizon. Overall, our outlook remains bullish and we recommend adding exposure on pullbacks. In today’s report we highlight attractive Groups and stocks within Discretionary, Materials, and Manufacturing.

The S&amp;P 500 and Nasdaq 100 are within striking distance of all-time highs and we believe breakouts are on the horizon. Overall, our outlook remains bullish and we recommend adding exposure on pullbacks. In today’s report we highlight attractive Groups and stocks within Discretionary, Materials, and Manufacturing.

U.S. Equity Strategy: Breakouts On The Horizon

Founder at Stock Spin-off Investing, Stock Spin-Off Investing

Richard Howe

Founder at Stock Spin-off Investing

Stock Spin-Off Investing

Generate attractive returns by taking advantage of inefficiencies in the stock spin-off market.

Stock Spin-offs

Event-Driven

<ul><li>On January 26, 2026, Eaton Corp (ETN) announced plans to spin off its Mobility Group — which represents roughly 11% of total revenue — in a tax-free transaction expected to be completed by the first quarter of 2027</li><li>The spin-off is part of Eaton’s broader 2030 growth strategy to sharpen its focus on its higher-growth, higher-margin Electrical and Aerospace businesses, which are closely tied to secular megatrends such as electrification, digitalization, AI-driven data center buildouts, and infrastructure and defense spending.</li><li>In recent years, Eaton’s stock has been bid up as investors increasingly view ETN as a beneficiary of the booming AI and data-center buildout, not just a traditional industrial equipment maker.<figure class="editor-figure mceNonEditable"></figure></li></ul>

On January 26, 2026, Eaton Corp (ETN) announced plans to spin off its Mobility Group — which represents roughly 11% of total revenue — in a tax-free transaction expected to be completed by the first quarter of 2027The spin-off is part of Eaton’s broader 2030 growth strategy to sharpen its focus on its higher-growth, higher-margin Electrical and Aerospace businesses, which are closely tied to secular megatrends such as electrification, digitalization, AI-driven data center buildouts, and infrastructure and defense spending.In recent years, Eaton’s stock has been bid up as investors increasingly view ETN as a beneficiary of the booming AI and data-center buildout, not just a traditional industrial equipment maker.

We take a look at actionable stocks within the U.S. manufacturing sector, a Vermilion Research overweight.  The following industry groups are represented: Aero/Defense, Auto Parts , Industrial Rental Equipment, Building Products &amp; Fixtures.<ul><li>List of highlighted charts: ALV, BDC, BLDR, CW, EMR, HDNG, HEES, HII, HURC, HXL, ITT, KAMN, LCII, LNN, MGRC, MLR, MOD, NNBR, NPO, PCAR, SPAR, SSD, SXI, TEX, TRN, TRS, TXT, URI, VICR, VMI, WSO, WTS</li></ul>

We take a look at actionable stocks within the U.S. manufacturing sector, a Vermilion Research overweight.  The following industry groups are represented: Aero/Defense, Auto Parts , Industrial Rental Equipment, Building Products &amp; Fixtures.List of highlighted charts: ALV, BDC, BLDR, CW, EMR, HDNG, HEES, HII, HURC, HXL, ITT, KAMN, LCII, LNN, MGRC, MLR, MOD, NNBR, NPO, PCAR, SPAR, SSD, SXI, TEX, TRN, TRS, TXT, URI, VICR, VMI, WSO, WTS

U.S. Manufacturing Sector Breaking Out to All-Time Relative Strength Highs; Actionable Stocks

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

Modine Manufacturing Co / Equity Bottom-Up

<ul><li>Modine Manufacturing Company has reported a strong fourth quarter and fiscal year 2025, marking their third consecutive year of record sales and profitability.</li><li>The company's strategy to alter its business mix has resulted in significant top-line growth and expanded EBITDA margins, supported by strategic investments and an 80/20 business mix shift.</li><li>For the fiscal year, Modine reported a 25% increase in adjusted EBITDA on a 7% increase in sales.</li></ul>

Modine Manufacturing Company has reported a strong fourth quarter and fiscal year 2025, marking their third consecutive year of record sales and profitability.The company's strategy to alter its business mix has resulted in significant top-line growth and expanded EBITDA margins, supported by strategic investments and an 80/20 business mix shift.For the fiscal year, Modine reported a 25% increase in adjusted EBITDA on a 7% increase in sales.

Modine Manufacturing’s Data Center Boom: How 5-Year Hyperscale Deals Are Fueling Explosive Growth!

<ul><li>Modine Manufacturing Company reported a solid financial performance for the third quarter of fiscal 2025.</li><li>The company experienced an overall year-over-year increase in revenue and enhanced profit margins, driven primarily by its Climate Solutions segment, offsetting some challenges faced by its Performance Technologies sector.</li><li>The Climate Solutions segment presented outstanding results, with a notable 42% increase in sales and a 57% improvement in adjusted EBITDA, pushing the segment's adjusted EBITDA margin to 21%.</li></ul>

Modine Manufacturing Company reported a solid financial performance for the third quarter of fiscal 2025.The company experienced an overall year-over-year increase in revenue and enhanced profit margins, driven primarily by its Climate Solutions segment, offsetting some challenges faced by its Performance Technologies sector.The Climate Solutions segment presented outstanding results, with a notable 42% increase in sales and a 57% improvement in adjusted EBITDA, pushing the segment's adjusted EBITDA margin to 21%.

Modine's Global Expansion Play: Why Hyperscalers & Colocation Giants Are All In!

United States

Modine Manufacturing Company manufactures heat-transfer and heat-storage technology products.  The Company develops, manufactures, and markets heat exchangers and systems for use in various original equipment manufacturer applications and for sale to the automotive aftermarket and to a wide array of building markets.

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Modine Manufacturing Co (MOD US)

U.S. Equity Strategy: Breakouts On The Horizon

The S&P 500 and Nasdaq 100 are within striking distance of all-time highs and we believe breakouts are on the horizon. Our outlook remains bullish...

Vermilion Research

Weekly Update (WDC, AAF, WAT)

On January 26, 2026, Eaton Corp (ETN) announced plans to spin off its Mobility Group — which represents roughly 11% of total revenue — in a tax...

Richard Howe

U.S. Manufacturing Sector Breaking Out to All-Time Relative Strength Highs; Actionable Stocks

We take a look at actionable stocks within the U.S. manufacturing sector, a Vermilion Research overweight. The following industry groups are...

Vermilion Research

Modine Manufacturing’s Data Center Boom: How 5-Year Hyperscale Deals Are Fueling Explosive Growth!

Modine Manufacturing Company has reported a strong fourth quarter and fiscal year 2025, marking their third consecutive year of record sales and...

Baptista Research

Modine's Global Expansion Play: Why Hyperscalers & Colocation Giants Are All In!

Modine Manufacturing Company reported a solid financial performance for the third quarter of fiscal 2025. The company experienced an overall...

Baptista Research

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