DirecTV: Solid Results and Guidance Reduces Worries on US Competition

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DirecTV (DTV) reported solid 4Q09 financial results and mixed subscriber metrics. The company also announced a $3.5 billion share repurchases which exceeded the high end of estimates calling for $2-3 billion. Ahead of the conference call, on which, the company should provide some 2010 guidance commentary, the news is on balance positive and justifies the […]

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Quarterly Media Earnings Good But Stocks Trade Lower

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The following commentary summarizes recent media company earnings reports including Discovery Communications (DISCA), which remains widely held by Northlake clients. Since I wrote these comments, it was announced that DISCA will be added to the S&P 500. This provided about a 10% pop in the stock price. The past several weeks have witnessed a series […]

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