Northlake clients have owned a position in Japan via the iShares MSCI Japan Index (EWJ) for over two years. Until yesterday that is. At the open, I sold the entire position. My opinion that Japan is exiting a multi-decade economic and stock market slump has not changed. Rather, with the market having been so strong, […]
Margin expansion should propel Disney (DIS) to another quarter of greater than 10% growth in operating income when it reports 2Q07 results after the close on Tuesday. Revenue and EPS growth are only projected to grow in the low single digits due to tough comparisons. DIS has produced significant positive surprises in each of the […]
Warner Music Group (WMG) reported slightly better than expected 2Q07 results with revenues of $784 million and EBITDA of $96 million both soundly beating analyst estimates. Despite the big beat on these metrics, the source of the upside was not material relative to the challenges faced by the music industry. Upside in publishing and foreign […]
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