Liberty Media (LMCA) and Liberty Global (LBTYK) reported earnings last week, finishing off the latest quarterly reports for Northlake’s portfolio of individual stocks. Both stocks reacted favorably to their results although the real focus of investor attention at both companies is on recent merger and acquisition activity. LMCA recently announced it was taking a 25% […]
Media companies reported earnings over the last two weeks including Northlake positions’ CBS, Discovery Communications (DISCK), and Disney (DIS). In general, the news from Northlake’s holdings and other media companies was good. The two key takeaways are: (1) the national TV ad market is firming up a bit from its tepid growth late last year […]
Due primarily to trend and technical indicators, Northlake’s Market Cap model shifted from small cap to mid cap for May. As a result, all client positions following the model previously invested in the Russell 2000 (IWM) have been sold and proceeds reinvested in the S&P 400 Mid Cap (MDY). This change continues an unusually volatile […]
CBS reported another excellent quarter, showing solid growth even against tough comparisons and declining ratings at the flagship CBS Network. Revenues grew 6%, slightly ahead of expectations. Excellent cost controls and a positive mix shift led to a 15% gain in adjusted operating cash flow, the most important financial measure for media investors. Extremely aggressive […]
Despite reporting results largely in line with estimates and slightly raising full year guidance, Qualcomm (QCOM) shares traded down sharply following its earnings report. Investors were disappointed with margins, especially looking ahead to next quarter when the company expects them to remain under modest pressure. The margin guidance led to June quarter EPS being forecast […]
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