MGM Resorts (MGM) reported a solid quarter with sales coming in slightly below consensus estimates and earnings that beat expectations due to progress on streamlining the business. The company received a meaningful one-time benefit from the sale of The Shops at Crystals, which it owned 50% of through a joint venture in CityCenter. We believe […]
Activision Blizzard (ATVI) reported a second straight quarter of sales, earnings, and forward guidance above consensus estimates. Strength in the quarter was largely attributed to the successful launch of Blizzard’s newest game, Overwatch, which already has over 15 million players globally. Continuing momentum across key franchises, signaled by strong pre-orders for the next expansions of […]
Liberty Global (LBTYK) reported a slightly weaker than expected quarter, much as we expected. Admittedly, with rebased revenue growth of 4% and operating cash flow growth of 2%, the results were a bit less than our low expectations. But we always have thought that after a rough 12 months, 2Q16 would mark the low point […]
Disney (DIS) reported slightly better than expected result for its 3Q16 driven by theme parks and the film studio. There were slight shortfalls vs consensus expectations at media networks and consumer products although there was no further deterioration in affiliate fee trends and subscriber losses at ESPN. It has been the worries about ESPN that […]
It was a quiet quarter at Liberty Media (LMCK) and Liberty Sirius (LSXMK) after the companies were spun off as tracking stocks from Liberty Media’s corporate holding company earlier this year. The good news is that the major assets held by each company performed well in the quarter. In addition, transactions completed on smaller assets […]
There are no changes to the signals from Northlake’s Market Cap and Style models for August. The Market Cap model continues to recommend mid cap and the Style model remains on a neutral reading between growth and value. With no changes to this month’s signals, clients following the models will continue to own the S&P […]
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