Activision Blizzard (ATVI) reported sales and earnings that were better than expected with typically conservative guidance for 4Q19. The restructuring effort underway at ATVI appears to be gaining traction as the company invests toward setting up a strong 2020. Such investments include increasing marketing spend behind successful franchises to expand the player base, developing content […]
Facebook (FB) reported 3Q19 sales slightly ahead of expectations with stronger earnings driven by disciplined expense growth. Guidance commentary was mostly positive with a warning of a pronounced revenue deceleration in 4Q19 due to difficult comparisons to the prior year being offset by an encouraging outlook for 2020. Northlake sees FB heading toward a positive […]
Nexstar Media Group (NXST) has been one of Northlake’s best performing stocks this year. The shares are up 38%, including a gain of about 10% since the company reported third quarter earnings last week. NXST has attracted investors due to its highly accretive acquisition of Tribune, which makes NXST the largest owner of local TV […]
CBS reported 3Q19 earnings in line with reduced Wall Street expectations in its last quarter as standalone company. The merger of Viacom and CBS to create ViacomCBS should close in the first half of December. CBS shares represent the newco as Viacom shareholders will exchange their shares for CBS shares. CBS shares have declined sharply […]
Following a disappointing result in the June quarter with unexpected weakness in Disney’s core business segments, September quarter earnings were improved with stabilization or improvement in theme parks and acquired 21st Century Fox film and TV operations. This led to a relief rally of 3% in DIS shares which had pulled back from $140 to […]
Both of Northlake’s models are sending new signals for November. The Market Cap model shifted back to mid cap after just two months at large cap. The Style model moved to neutral after ten months at growth. Both shifts reflect slightly improved economic data and reduced risk of a U.S. recession. As a result of […]
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