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 remain bullish (as of our 4/21/26 Compass) on the S&amp;P 500 (SPX), and we will stay that way as long as support at 7507-7580 holds.</li>
<li>We also remain bullish on Technology and A.I. areas (XLK, SOXX, DRAM), and we have Technology on watch for a potential upgrade to overweight.</li>
<li>The Nasdaq 100 (QQQ) and the XLK are both breaking out of their 4-month bases, a very bullish sign as long as $745 and $197 supports hold on any pullbacks.</li>
</ul>


We remain bullish (as of our 4/21/26 Compass) on the S&amp;P 500 (SPX), and we will stay that way as long as support at 7507-7580 holds.
We also remain bullish on Technology and A.I. areas (XLK, SOXX, DRAM), and we have Technology on watch for a potential upgrade to overweight.
The Nasdaq 100 (QQQ) and the XLK are both breaking out of their 4-month bases, a very bullish sign as long as $745 and $197 supports hold on any pullbacks.


Nasdaq 100 and Technology (XLK) With 4-Month Base Breakouts; Downgrading Staples to Underweight

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>WESCO International reported strong second quarter results for 2026, marked by record sales, adjusted EBITDA, adjusted earnings per share, and backlog, all surpassing previous plans.</li><li>Sales increased by 13% year-over-year to $6.7 billion, driven primarily by continued momentum in the data center end market, which accounted for approximately 20% of total sales.</li><li>Notably, excluding data center sales, the company still achieved mid-single-digit growth, indicating broad-based demand across its diversified portfolio spanning three business units: Communication & Security Solutions (CSS), Electrical & Electronic Solutions (EES), and Utility & Broadband Solutions (UBS).</li></ul>

WESCO International reported strong second quarter results for 2026, marked by record sales, adjusted EBITDA, adjusted earnings per share, and backlog, all surpassing previous plans.Sales increased by 13% year-over-year to $6.7 billion, driven primarily by continued momentum in the data center end market, which accounted for approximately 20% of total sales.Notably, excluding data center sales, the company still achieved mid-single-digit growth, indicating broad-based demand across its diversified portfolio spanning three business units: Communication & Security Solutions (CSS), Electrical & Electronic Solutions (EES), and Utility & Broadband Solutions (UBS).

WESCO International’s $6.7 Billion Quarter — Data Centers Are Supercharging Growth!

<ul><li>WESCO International reported a strong start to 2026, with first-quarter sales reaching a record $6.1 billion, up 14% year-over-year, driven by 12% organic growth and favorable pricing contributing approximately 3 percentage points.</li><li>This marked the company’s third consecutive quarter of double-digit sales growth, supported notably by significant momentum in its data center segment, where sales rose about 70% year-over-year and represented 24% of overall sales.</li><li>Broad-based strength was observed across WESCO’s three major business units—Commercial & Construction Solutions (CSS), Electrical & Electronic Solutions (EES), and Utility & Broadband Solutions (UBS)—with backlog levels also reaching new highs, up 22% year-over-year, enhancing visibility into future revenue streams.</li></ul>

WESCO International reported a strong start to 2026, with first-quarter sales reaching a record $6.1 billion, up 14% year-over-year, driven by 12% organic growth and favorable pricing contributing approximately 3 percentage points.This marked the company’s third consecutive quarter of double-digit sales growth, supported notably by significant momentum in its data center segment, where sales rose about 70% year-over-year and represented 24% of overall sales.Broad-based strength was observed across WESCO’s three major business units—Commercial & Construction Solutions (CSS), Electrical & Electronic Solutions (EES), and Utility & Broadband Solutions (UBS)—with backlog levels also reaching new highs, up 22% year-over-year, enhancing visibility into future revenue streams.

WESCO International: Leveraging Backlog Strength

<ul><li>WESCO International closed 2025 with strong top-line momentum, supported by broad-based volume growth and continued share gains across most end markets, while profitability and cash generation reflected a more mixed outcome.</li><li>Fourth-quarter sales reached a record level, driven primarily by Communications and Security Solutions and Electrical and Electronic Solutions, with data center-related activity emerging as the dominant contributor to growth.</li><li>Data center sales expanded sharply year over year and represented a meaningful share of total company revenue, reflecting demand across both power infrastructure and connectivity environments.</li></ul>

WESCO International closed 2025 with strong top-line momentum, supported by broad-based volume growth and continued share gains across most end markets, while profitability and cash generation reflected a more mixed outcome.Fourth-quarter sales reached a record level, driven primarily by Communications and Security Solutions and Electrical and Electronic Solutions, with data center-related activity emerging as the dominant contributor to growth.Data center sales expanded sharply year over year and represented a meaningful share of total company revenue, reflecting demand across both power infrastructure and connectivity environments.

WESCO International and the Grid Modernization Wave—A Quiet Expansion Into Higher-Value Utility Services!

<ul><li>WESCO International delivered robust performance in Q3 2025, underscoring strong market position and execution capability across its strategic business units (SBUs).</li><li>The company recorded record quarterly sales of $6.2 billion, marked by organic growth across all divisions: Communications and Security Solutions (CSS) up 18%, Electrical and Electronic Solutions (EES) up 12%, and Utility and Broadband Solutions (UBS) up 3%.</li><li>Particularly notable was the 60% year-over-year increase in data center sales, highlighting an accelerating focus on AI-driven data center growth, which now represents a significant portion of the company’s overall revenue.</li></ul>

WESCO International delivered robust performance in Q3 2025, underscoring strong market position and execution capability across its strategic business units (SBUs).The company recorded record quarterly sales of $6.2 billion, marked by organic growth across all divisions: Communications and Security Solutions (CSS) up 18%, Electrical and Electronic Solutions (EES) up 12%, and Utility and Broadband Solutions (UBS) up 3%.Particularly notable was the 60% year-over-year increase in data center sales, highlighting an accelerating focus on AI-driven data center growth, which now represents a significant portion of the company’s overall revenue.

WESCO International: Data Center Expansion & Growth

United States

WESCO International, Inc. distributes electrical products and other industrial maintenance, repair, and operating supplies.  The Company also provides integrated supply services.  WESCO operates branches and distribution centers in the United States, Canada, Puerto Rico, Guam, Mexico, the United Kingdom, and Singapore, which serve customers worldwide.

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Wesco International (WCC US)

Nasdaq 100 and Technology (XLK) With 4-Month Base Breakouts; Downgrading Staples to Underweight

Nasdaq 100 $QQQ and Technology $XLK With 4-Month Base Breakouts; That is bullish as long as supports of $745 on QQQ and $197 on XLK hold on any...

Vermilion Research

WESCO International’s $6.7 Billion Quarter — Data Centers Are Supercharging Growth!

WESCO International reported strong second quarter results for 2026, marked by record sales, adjusted EBITDA, adjusted earnings per share, and...

Baptista Research

WESCO International: Leveraging Backlog Strength

WESCO International reported a strong start to 2026, with first-quarter sales reaching a record $6.1 billion, up 14% year-over-year, driven by 12%...

Baptista Research

WESCO International and the Grid Modernization Wave—A Quiet Expansion Into Higher-Value Utility Services!

WESCO International closed 2025 with strong top-line momentum, supported by broad-based volume growth and continued share gains across most end...

Baptista Research

WESCO International: Data Center Expansion & Growth

WESCO International delivered robust performance in Q3 2025, underscoring strong market position and execution capability across its strategic...

Baptista Research

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