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>Corning Incorporated's recent earnings for the third quarter of 2024 reveals a healthy operational and financial trajectory characterized by robust sales growth and notable strategic advancements.</li><li>The company reported an 8% increase year-over-year in sales, amounting to $3.73 billion, and a significant 20% rise in earnings per share (EPS) to $0.54.</li><li>This performance is largely attributed to the growth in the Optical Communications segment, which saw a 55% increase in its enterprise business, driven by the adoption of new optical connectivity products for generative AI.</li></ul>

Corning Incorporated's recent earnings for the third quarter of 2024 reveals a healthy operational and financial trajectory characterized by robust sales growth and notable strategic advancements.The company reported an 8% increase year-over-year in sales, amounting to $3.73 billion, and a significant 20% rise in earnings per share (EPS) to $0.54.This performance is largely attributed to the growth in the Optical Communications segment, which saw a 55% increase in its enterprise business, driven by the adoption of new optical connectivity products for generative AI.

Corning Incorporated: Expanding High-Speed Fiber Networks & Advancements in Optical Communications As Critical Growth Catalysts! - Major Drivers

<ul><li>Corning Inc. reported strong second quarter results for 2024, surpassing its sales and EPS guidance.</li><li>This positive performance was largely driven by the rapid uptake of its new optical connectivity products designed for generative AI applications.</li><li>These products cater to a new network within data centers which requires significantly higher bandwidth to connect GPUs, resulting in roughly ten times more fiber connections compared to traditional setups.</li></ul>

Corning Inc. reported strong second quarter results for 2024, surpassing its sales and EPS guidance.This positive performance was largely driven by the rapid uptake of its new optical connectivity products designed for generative AI applications.These products cater to a new network within data centers which requires significantly higher bandwidth to connect GPUs, resulting in roughly ten times more fiber connections compared to traditional setups.

Corning Incorporated: Strategic Pricing Developments & Expansion into Optical Connectivity Solutions for GenAI! - Major Drivers

<ul><li>Based on the Q1 2024 earnings, Corning Incorporated appears to be in a position of growth and profitability.</li><li>With sales close to $3.3 billion and EPS of $0.38, the company exceeds its guidance predictions.</li><li>There was a year-over-year gross margin growth of 160 basis points to 36.8%, and a substantial improvement in free cash flow by $300 million.</li></ul>

Based on the Q1 2024 earnings, Corning Incorporated appears to be in a position of growth and profitability.With sales close to $3.3 billion and EPS of $0.38, the company exceeds its guidance predictions.There was a year-over-year gross margin growth of 160 basis points to 36.8%, and a substantial improvement in free cash flow by $300 million.

Corning Incorporated: Are The Returns On Its Display Business Good Enough? - Major Drivers

<ul><li>Corning Incorporated reported its fourth-quarter and full-year earnings for the year 2023.</li><li>The company reported $3.3 billion for the quarter, gross margin of 37%, and earnings per share (EPS) of $0.39, meeting expectations.</li><li>There was also $0.5 billion in free cash flow.</li></ul>

Corning Incorporated reported its fourth-quarter and full-year earnings for the year 2023.The company reported $3.3 billion for the quarter, gross margin of 37%, and earnings per share (EPS) of $0.39, meeting expectations.There was also $0.5 billion in free cash flow.

Corning Incorporated: Will The Continued Demand in Optical Communications Become A Major Growth Catalyst In 2024 & Beyond? - Key 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>Our outlook remains bullish and we see the market in the midst of a significant end-of-year rally that we have been expecting since mid-October.</li>
<li>We continue to expect support at 20-day MAs on $SPX and Nasdaq 100 (QQQ), while support at current levels or the 50-day MA is likely on the Russell 2000 (IWM).</li>
<li>Market dynamics continue to improve, giving us confidence that this bull run is likely to go at least another month into mid-January, and quite likely beyond.</li>
</ul>


Our outlook remains bullish and we see the market in the midst of a significant end-of-year rally that we have been expecting since mid-October.
We continue to expect support at 20-day MAs on $SPX and Nasdaq 100 (QQQ), while support at current levels or the 50-day MA is likely on the Russell 2000 (IWM).
Market dynamics continue to improve, giving us confidence that this bull run is likely to go at least another month into mid-January, and quite likely beyond.


Growth Leading This EOY Rally; Expect More Upside. PHLX Semis $SOXX With a Bullish 5-Month Reversal

United States

Corning Incorporated is a global, technology-based company. The Company produces optical fiber, cable, and photonic components for the telecommunications industry, as well as manufactures glass panels, funnels, liquid crystal display glass and projection video lens assemblies for the information display industry.

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Corning Inc (GLW US)

Corning Incorporated: Expanding High-Speed Fiber Networks & Advancements in Optical Communications As Critical Growth Catalysts! - Major Drivers

Corning Incorporated's recent earnings for the third quarter of 2024 reveals a healthy operational and financial trajectory characterized by...

Baptista Research

Corning Incorporated: Strategic Pricing Developments & Expansion into Optical Connectivity Solutions for GenAI! - Major Drivers

Corning Inc. reported strong second quarter results for 2024, surpassing its sales and EPS guidance. This positive performance was largely driven...

Baptista Research

Corning Incorporated: Are The Returns On Its Display Business Good Enough? - Major Drivers

Based on the Q1 2024 earnings, Corning Incorporated appears to be in a position of growth and profitability. With sales close to $3.3 billion and...

Baptista Research

Corning Incorporated: Will The Continued Demand in Optical Communications Become A Major Growth Catalyst In 2024 & Beyond? - Key Drivers

Corning Incorporated reported its fourth-quarter and full-year earnings for the year 2023. The company reported $3.3 billion for the quarter,...

Baptista Research

Growth Leading This EOY Rally; Expect More Upside. PHLX Semis $SOXX With a Bullish 5-Month Reversal

Growth Leading This EOY Rally $MSFT $AAPL as Tech $XLK Breaks Out; Expect More Upside $ARKK $ARKW $ARKF $BITQ $WGMI. PHLX Semiconductor $SOXX With...

Vermilion Research

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