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 Capital Markets

<ul><li>Corning saw a sequential drop in its total revenues of around 7% in the recent result but this was still better than analyst expectations.</li><li>Despite the lower sales, Corning's actions to raise prices and restore productivity ratios resulted in gross margin expanding 160 basis points.</li><li>Although multiple markets remain weak, the company expects results to improve in the second quarter.</li></ul>

Corning saw a sequential drop in its total revenues of around 7% in the recent result but this was still better than analyst expectations.Despite the lower sales, Corning's actions to raise prices and restore productivity ratios resulted in gross margin expanding 160 basis points.Although multiple markets remain weak, the company expects results to improve in the second quarter.

Corning Incorporated: Is The Drop In Revenues A Point Of Concern? – Key Drivers

<ul><li>Corning faced the impact of a series of pandemic-driven effects during the last quarter but the company managed to deliver an all-around beat.</li><li>The purchase of laptops, tablets, smartphones, televisions, and cars was below the company’s estimation in the last quarter.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Corning faced the impact of a series of pandemic-driven effects during the last quarter but the company managed to deliver an all-around beat.The purchase of laptops, tablets, smartphones, televisions, and cars was below the company’s estimation in the last quarter.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Corning Inc: Gorilla Glass Victus 2 & Other Developments

<ul><li>Corning delivered a mixed set of quarterly results missing out on market expectations with respect to revenues given the challenging environment.</li><li>Optical communications were the greatest contributor to the growth of this quarter and were a key factor responsible for the company delivering an earnings beat.</li><li>We provide the stock of Corning with a ‘Buy’ rating and a revision in the target price.</li></ul>

Corning delivered a mixed set of quarterly results missing out on market expectations with respect to revenues given the challenging environment.Optical communications were the greatest contributor to the growth of this quarter and were a key factor responsible for the company delivering an earnings beat.We provide the stock of Corning with a ‘Buy’ rating and a revision in the target price.

Corning Inc: Facility Expansion & Other Drivers

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Equity Bottom-Up

Taiwan Semiconductor (TSMC) - ADR / Equity Bottom-Up

<ul>
<li>Taiwan’s tech space fell hard last week, with the tech sector down 5.4%, compared to a 4.9% drop for the overall market. Semiconductors performed the worst, down 6.2%.</li>
<li>Hon Hai, Delta, Lite-On -- EV a major theme for the first-ever Taiwan Expo USA coming October 12th.</li>
<li>Taiwan wafer exports were at an all-time high in August. We note that wafer names have underperformed TSMC.</li>
</ul>


Taiwan’s tech space fell hard last week, with the tech sector down 5.4%, compared to a 4.9% drop for the overall market. Semiconductors performed the worst, down 6.2%.
Hon Hai, Delta, Lite-On -- EV a major theme for the first-ever Taiwan Expo USA coming October 12th.
Taiwan wafer exports were at an all-time high in August. We note that wafer names have underperformed TSMC.


Taiwan Tech Weekly: Trying to Recover After a Week of Deep Declines

Credit

<ul><li>Corning is a major material science player that has been experiencing a rapidly improving margin profile since the past few results.</li><li>Both the gross margin and operating margin have been increasing since the start of 2022.</li><li>The management appears confident in their ability to promote long-term profitable growth combined with their steps to increase margins.</li></ul>

Corning is a major material science player that has been experiencing a rapidly improving margin profile since the past few results.Both the gross margin and operating margin have been increasing since the start of 2022.The management appears confident in their ability to promote long-term profitable growth combined with their steps to increase margins.

Corning Incorporated: Detailed Credit Analysis & Financial Strength Evaluation Report

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Corning Inc (GLW US)

Corning Incorporated: Is The Drop In Revenues A Point Of Concern? – Key Drivers

Corning saw a sequential drop in its total revenues of around 7% in the recent result but this was still better than analyst expectations. Despite...

Baptista Research

Corning Inc: Gorilla Glass Victus 2 & Other Developments

Corning faced the impact of a series of pandemic-driven effects during the last quarter but the company managed to deliver an all-around beat. The...

Baptista Research

Corning Inc: Facility Expansion & Other Drivers

Corning delivered a mixed set of quarterly results missing out on market expectations with respect to revenues given the challenging...

Baptista Research

Taiwan Tech Weekly: Trying to Recover After a Week of Deep Declines

AU Optronics stock suspended, Intel's Mobileye IPO is back, Samsung takes share from TSMC, Taiwan wafer exports are at an all-time high.

Vincent Fernando, CFA

Corning Incorporated: Detailed Credit Analysis & Financial Strength Evaluation Report

Corning is a major material science player that has been experiencing a rapidly improving margin profile since the past few results. Both the...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)