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>Noble Corporation's third-quarter 2025 earnings report presents a mixed picture for investors, with some positive developments and notable challenges on the horizon.</li><li>The company generated an adjusted EBITDA of $254 million and a free cash flow of $139 million, which was bolstered by net disposal proceeds of $87 million.</li><li>This financial performance underscores Noble's operational efficiency, as highlighted by the company's successful execution in technically demanding deepwater drilling operations.</li></ul>

Noble Corporation's third-quarter 2025 earnings report presents a mixed picture for investors, with some positive developments and notable challenges on the horizon.The company generated an adjusted EBITDA of $254 million and a free cash flow of $139 million, which was bolstered by net disposal proceeds of $87 million.This financial performance underscores Noble's operational efficiency, as highlighted by the company's successful execution in technically demanding deepwater drilling operations.

Noble Corporation: What’s Cooking in Mozambique, West Africa, & Beyond?

<ul><li>Noble Corporation's fourth-quarter 2024 earnings call provided a comprehensive overview of its operational and financial performance while highlighting key strategic initiatives and market outlook.</li><li>The company recently completed the acquisition of Diamond Offshore, enhancing its positioning in the deepwater drilling market.</li><li>This integration is progressing well, with $50 million of the targeted $100 million synergies already realized, reflecting operational efficiencies.</li></ul>

Noble Corporation's fourth-quarter 2024 earnings call provided a comprehensive overview of its operational and financial performance while highlighting key strategic initiatives and market outlook.The company recently completed the acquisition of Diamond Offshore, enhancing its positioning in the deepwater drilling market.This integration is progressing well, with $50 million of the targeted $100 million synergies already realized, reflecting operational efficiencies.

Noble Corporation: An Insight Into Market Demand, Growth Prospects & Key Growth Drivers!

<ul><li>Noble Corporation's third quarter 2024 results reflect significant corporate developments and operational strides, which bear importance for an investment thesis in the company.</li><li>The closed acquisition of Diamond Offshore is a pivotal event, evidently bolstering Noble's operational capacity with a combined fleet of 41 rigs and adding $2 billion in backlog.</li><li>This acquisition not only enhances the company’s capabilities, particularly in the deepwater market with the largest fleet of seventh-generation dual-BOP drillships, but also offers synergies projected to reach $100 million.</li></ul>

Noble Corporation's third quarter 2024 results reflect significant corporate developments and operational strides, which bear importance for an investment thesis in the company.The closed acquisition of Diamond Offshore is a pivotal event, evidently bolstering Noble's operational capacity with a combined fleet of 41 rigs and adding $2 billion in backlog.This acquisition not only enhances the company’s capabilities, particularly in the deepwater market with the largest fleet of seventh-generation dual-BOP drillships, but also offers synergies projected to reach $100 million.

Noble Corporation: Can Its Expanded Backlog & Contract Extensions Influence Its Future Stock Performance? - 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>SPX is pulling back after hitting all-time highs; the gap at 6750-6772 is short-term support, and it is a clear sign bulls remain in control if this gap remains unfilled.</li>
<li>We will stay near-term bullish as long as the 3+ month uptrend continues (currently at ~6675). Additional supports include 6550-6569, 6480-6520, 6450, 6400-6410, 6340-6360, 6290, 6200, and 6100-6150</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).
SPX is pulling back after hitting all-time highs; the gap at 6750-6772 is short-term support, and it is a clear sign bulls remain in control if this gap remains unfilled.
We will stay near-term bullish as long as the 3+ month uptrend continues (currently at ~6675). Additional supports include 6550-6569, 6480-6520, 6450, 6400-6410, 6340-6360, 6290, 6200, and 6100-6150


Magnificent Seven's Turn to Shine; Buy Pullbacks to 3+ Month SPX Uptrend and 50-Day MA

<ul>
<li>We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.</li>
<li>Short-Term supports on SPX include 6400-6410, 6340-6360, 6200, 6100-6150, and 6028-6059.</li>
<li>Various prior leadership areas from the April lows appear ready to continue higher following 1+ month consolidations. IGV, PLTR, APP, SOUN, RZLV, SHOP, FROG, U, CDNS, RDDT, JMIA, RR, Z,HIMS,MU,GRAL</li>
</ul>


We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.
Short-Term supports on SPX include 6400-6410, 6340-6360, 6200, 6100-6150, and 6028-6059.
Various prior leadership areas from the April lows appear ready to continue higher following 1+ month consolidations. IGV, PLTR, APP, SOUN, RZLV, SHOP, FROG, U, CDNS, RDDT, JMIA, RR, Z,HIMS,MU,GRAL


Downgrading Utilities to Market Weight; Bullish Outlook Intact; Prior Leadership to Shine?

United Kingdom

Noble Corporation PLC provides diversified services for the oil and gas industry. The Company provides contract drilling services with its fleet of offshore drilling units located in markets worldwide.  Noble also provides labor contract drilling services, well site and project management services, and engineering services.

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Noble Corp Plc (NE US)

Noble Corporation: What’s Cooking in Mozambique, West Africa, & Beyond?

Noble Corporation's third-quarter 2025 earnings report presents a mixed picture for investors, with some positive developments and notable...

Baptista Research

Noble Corporation: An Insight Into Market Demand, Growth Prospects & Key Growth Drivers!

Noble Corporation's fourth-quarter 2024 earnings call provided a comprehensive overview of its operational and financial performance while...

Baptista Research

Noble Corporation: Can Its Expanded Backlog & Contract Extensions Influence Its Future Stock Performance? - Major Drivers

Noble Corporation's third quarter 2024 results reflect significant corporate developments and operational strides, which bear importance for an...

Baptista Research

Magnificent Seven's Turn to Shine; Buy Pullbacks to 3+ Month SPX Uptrend and 50-Day MA

Magnificent Seven's $MAGS Turn to Shine; Buy Pullbacks to 3+ Month $SPX Uptrend and 50-day MA, currently 6655-6680. Buys: $AAPL $TSLA $NVDA $GOOGL...

Vermilion Research

Downgrading Utilities to Market Weight; Bullish Outlook Intact; Prior Leadership to Shine?

Downgrading Utilities $XLU to Market Weight; Bullish Outlook Intact; Time for Prior Leadership to Shine? $IGV $PLTR $APP $SOUN $RZLV $SHOP $FROG $U...

Vermilion Research

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