E.W. Scripps (SSP) reported earnings in line with consensus but stronger than I had been anticipating. I came quite close to buying October or November at the money puts yesterday but in the end I decided against. As noted in my preview comment, I have a growing concern that fundamentals of the cable network business […]
Tribune (TRB) are up over 2% since reporting 3Q05 earnings and conducting a conference call on Thursday morning before the open. The key takeaway from the report and call is that TRB is putting its unique issues in the past and the company’s fortunes will begin to closely track the newspaper industry. Given poor trends […]
Gannett (GCI) shares initially bounced about 1% off of depressed levels in response to the company’s 3Q05 earnings report before retreating to new lows as the market fell on Tuesday and Wednesday. The quarter was pretty much in line with expectations and no unexpected news came out on the conference call….
Quick Summary: Earnings estimates have come down steadily all year and several companies have pre-announced earnings misses for 3Q05. The stocks should be trading well below historical multiples even if you believe that certain issues are cyclical. It is still too soon to take long positions in the group even though most of the stocks […]
Monday’s close on the S&P 500 was the lowest since May 18th. That is not what I wanted to talk about today but I was a little surprised as I scanned back that I had to go back almost five months to find the last lower close. Ouch. Bye-bye to all those summer gains. I […]
Shortly after the open Thursday, I completed the purchase of a position in the Japanese stock market across all client accounts. The purchase was completed through the exchange traded fund that tracks the major Japanese market index. The ticker symbol is EWJ. Certain clients had owned Japan previously as part of a group of ETFs […]
On Monday, SBS Broadcasting (SBTV) shareholders approved the deal to sell the company to private equity investors for 46 euros per share. According to the press release issued by the company, the deal is expected to close in late October. Sometime later this month, before final closing, the company will establish a record date for […]
Consolidation in European media continues at a frantic pace. Last week, Liberty Global (LBTYA) announced its acquisition of leading Swiss cable company Cablecom. On Monday, NTL Incorporated (NTLI) and Telewest (TLWT) announced their long awaited merger. Additionally on Monday, shareholders of SBS Broadcasting (SBTV) approved the sale of the company to private equity investors for […]
The following entry appeared in its entirety on StreetInsight.com on October 5, 2005. NTL Incorporated (NTLI) and Telewest (TLWT) announced their long awaited and long overdue merger on Monday. The terms were about as expected with TLWT shareholders receiving value of almost $24 per share composed of $16.25 in cash plus .115 shares of NTLI. […]
Over the weekend I received fresh signals from Northlake’s monthly models. The big change for October is a new Value signal in the Style model after four consecutive months signaling Growth. As a result of the new signal, at the open on Monday I swapped all personal and client positions in the Russell 1000 Growth […]
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