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>Nucor Corporation recently held its third quarter 2025 earnings call, revealing a mixed bag of results wrapped around impressive performance and strategic shifts.</li><li>Nucor reported an EBITDA of approximately $1.3 billion with earnings per share (EPS) of $2.63, surpassing their previous guidance due to higher-than-expected shipments and favorable corporate adjustments.</li><li>The company maintained a strong capital management stance, investing $807 million into growth projects nearing completion and returning $230 million to shareholders through dividends and share buybacks.</li></ul>

Nucor Corporation recently held its third quarter 2025 earnings call, revealing a mixed bag of results wrapped around impressive performance and strategic shifts.Nucor reported an EBITDA of approximately $1.3 billion with earnings per share (EPS) of $2.63, surpassing their previous guidance due to higher-than-expected shipments and favorable corporate adjustments.The company maintained a strong capital management stance, investing $807 million into growth projects nearing completion and returning $230 million to shareholders through dividends and share buybacks.

Nucor Corporation: Inside the Plan to Lead America’s Next Big Steel Cycle!

<ul><li>Nucor Corporation delivered a solid performance in the second quarter of 2025, indicating resilience and adaptation in a volatile economic environment.</li><li>The company reported earnings before interest, taxes, depreciation, and amortization (EBITDA) of approximately $1.3 billion and an earnings per share of $2.60, reflecting robust performance compared to the previous quarter.</li><li>This improvement is primarily attributed to higher average selling prices in the steel mills segment and steady pricing coupled with increased volumes in the Steel Products segment.</li></ul>

Nucor Corporation delivered a solid performance in the second quarter of 2025, indicating resilience and adaptation in a volatile economic environment.The company reported earnings before interest, taxes, depreciation, and amortization (EBITDA) of approximately $1.3 billion and an earnings per share of $2.60, reflecting robust performance compared to the previous quarter.This improvement is primarily attributed to higher average selling prices in the steel mills segment and steady pricing coupled with increased volumes in the Steel Products segment.

Nucor Corporation: Advancements in Brandenburg & Capacity Utilization to Drive Margins & Revenue Growth In The Near Future!

<ul><li>Nucor Corporation's first quarter of 2025 results provide a comprehensive overview of both strategic advancements and challenges faced by the company.</li><li>The details from the conference call highlight several aspects of Nucor's operational and financial status, guiding an investment thesis that balances growth prospects with market challenges.</li><li>Financially, the company reported earnings before interest, taxes, depreciation, and amortization (EBITDA) of $696 million and adjusted earnings per share (EPS) of $0.77.</li></ul>

Nucor Corporation's first quarter of 2025 results provide a comprehensive overview of both strategic advancements and challenges faced by the company.The details from the conference call highlight several aspects of Nucor's operational and financial status, guiding an investment thesis that balances growth prospects with market challenges.Financially, the company reported earnings before interest, taxes, depreciation, and amortization (EBITDA) of $696 million and adjusted earnings per share (EPS) of $0.77.

Nucor Corporation’s $3 Billion Bet: Is Brandenburg the Game-Changer Steel Was Waiting For?

<ul><li>Nucor Corporation has delivered a mixed performance during its fourth quarter of 2024, marked by safety achievements and strategic growth investments alongside certain operational challenges.</li><li>On the positive front, Nucor reported its safest year in history with a notable reduction in workplace injuries, reflecting a strong corporate culture focusing on safety.</li><li>Financially, the company achieved earnings of $1.22 per share for the fourth quarter, contributing to an annual total of $8.46 per share.</li></ul>

Nucor Corporation has delivered a mixed performance during its fourth quarter of 2024, marked by safety achievements and strategic growth investments alongside certain operational challenges.On the positive front, Nucor reported its safest year in history with a notable reduction in workplace injuries, reflecting a strong corporate culture focusing on safety.Financially, the company achieved earnings of $1.22 per share for the fourth quarter, contributing to an annual total of $8.46 per share.

Nucor Corporation: Resilience & Growth in Plate Production Powering Our Optimism! - 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

Nasdaq-100 Stock Index / Technical Analysis

<ul>
<li>We had a near-term bullish outlook on the S&amp;P 500 (SPX) and Nasdaq 100 (QQQ) from 4/22/25 to 11/19/25.</li>
<li>After being near-term neutral for a week, we flipped back to bullish in our 11/25/25 report last week, all while maintaining our intermediate-term bullish outlook (as of our 5/14/25 report).</li>
<li>We'll stay near-term bullish as long as crucial support levels of 6480-6520 on SPX and $580-$583 on QQQ hold. We believe SPX,QQQ, and IWM are in a new "lockout rally"</li>
</ul>


We had a near-term bullish outlook on the S&amp;P 500 (SPX) and Nasdaq 100 (QQQ) from 4/22/25 to 11/19/25.
After being near-term neutral for a week, we flipped back to bullish in our 11/25/25 report last week, all while maintaining our intermediate-term bullish outlook (as of our 5/14/25 report).
We'll stay near-term bullish as long as crucial support levels of 6480-6520 on SPX and $580-$583 on QQQ hold. We believe SPX,QQQ, and IWM are in a new "lockout rally"


New Lockout Rally Underway on SPX, QQQ, and IWM? Yes. Here Is Why. Still Bullish

United States

Nucor Corporation manufactures steel products.  The Company's products include carbon and alloy steel, steel joists, steel deck, cold finished steel, steel grinding balls, steel bearing products, and metal buildingsystems. Nucor also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap.

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Nucor Corp (NUE US)

Nucor Corporation: Inside the Plan to Lead America’s Next Big Steel Cycle!

Nucor Corporation recently held its third quarter 2025 earnings call, revealing a mixed bag of results wrapped around impressive performance and...

Baptista Research

Nucor Corporation: Advancements in Brandenburg & Capacity Utilization to Drive Margins & Revenue Growth In The Near Future!

Nucor Corporation delivered a solid performance in the second quarter of 2025, indicating resilience and adaptation in a volatile economic...

Baptista Research

Nucor Corporation’s $3 Billion Bet: Is Brandenburg the Game-Changer Steel Was Waiting For?

Nucor Corporation's first quarter of 2025 results provide a comprehensive overview of both strategic advancements and challenges faced by the...

Baptista Research

Nucor Corporation: Resilience & Growth in Plate Production Powering Our Optimism! - Major Drivers

Nucor Corporation has delivered a mixed performance during its fourth quarter of 2024, marked by safety achievements and strategic growth...

Baptista Research

New Lockout Rally Underway on SPX, QQQ, and IWM? Yes. Here Is Why. Still Bullish

New Lockout Rally Underway on $SPX, $QQQ, and $IWM? Yes. The last time we made this same claim was in our 5/6/25 Compass report. Still Near-Term...

Vermilion Research

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