Liberty Media (LMCA) and its former subsidiary Starz (STRZA) reported earnings last week. LMCA is an asset play where value is created through its ownership of significant stakes in other public companies, including a majority interest in Sirius XM Satellite Radio and 25-30% stakes in Live Nation Entertainment (LYV) and Charter Communications (CHTR). LMCA also […]
Liberty Global (LBTYK) reported results that matched Wall Street expectations with rebased revenue and EBITDA growth of 3%. New subscriber growth surprised meaningfully to the upside following last quarter’s disappointing growth. Investors have been worried about the second half of 2013 growth due to tough competition in Netherlands and England and last quarter’s modest slowing […]
Qualcomm (QCOM) reported 4Q13 results mostly in line with expectations. However, guidance for 2014 indicated slower growth in units and a slight decrease in average selling prices. The guidance led analysts to reduce their outlook for revenues and operating income for 2014. However, QCOM’s commitment to large share repurchases leaves earnings estimates unchanged at a […]
CBS reported solid but unspectacular third quarter 2013 results. EPS matched Wall Street consensus of 76 cents, up from 64 cents a year ago. Revenue grew 11% but EBITDA was up only 4%. Revenue was a little ahead of estimates, while EBITDA fell slightly short. Unlike many recent quarters, CBS did not show an upside […]
After a couple of quarters where Discovery Communications (DISCK) did not quite meet the high expectations the company has rightly created for itself, third quarter 2013 results hit the mark. Domestic advertising and affiliate growth were ahead of expectations. International growth was a little light but clear indications that the company’s acquisitions in Europe are […]
Northlake’s Market Cap model shifted from Mid Cap to Small Cap for November. As a result, client positions in the S&P 400 Mid Cap (MDY) have been swapped into the Russell 2000 (IWM). There was not change in the Style model, which is recommending Growth for the second consecutive month after a long run at […]
Office
20 N 3rd Street
Bayfield, WI 54814
Mail
PO Box 1165
Bayfield, WI 54814
tim@northlakecapital.com
847-226-9713
