Home Depot (HD) reported excellent 3Q21 results with sales continuing to grow ahead of consensus expectations and surprisingly good gross and operating margins despite supply chain driven cost pressures. Northlake’s investment thesis on HD has been built around three ideas. First, we believe that the pandemic has created a secular increase in willingness of consumers […]
Disney (DIS) reported slightly disappointing earnings for its 4Q21 with modest shortfalls across most business segments headlined by preannounced weak Disney+ streaming subscriber additions and poor operating margins at theme parks. With a new fiscal year starting in October, management took the opportunity to reset expectations across most of its business lines. Stock Reaction: Since […]
Last quarter we noted that ATVI has been managing the headwinds coming from the employee discrimination lawsuits well. Looking solely at the results of 3Q21, one would conclude the same thing. However, the other shoe dropped when the company delayed the release of two important games from 2022/2023 to 2023/2024. The issues are a loss […]
The title of this blog post is similar to when we last discussed Nexstar Media Group (NXST). This is no coincidence as the company’s 3Q21 earnings report was more of the same good news. NXST has built nationwide scale of local TV stations, a business than has always generated large free cash flow (TV stations […]
We are sticking with our current positioning for at least another month after reviewing the latest updates from our Market Cap and Style models. We will continue to hold current positions following the models including the S&P 500 (SPY), Russell 1000 Growth (IWF) and Russell 1000 Value (IWD). We will also stick with our preferences […]
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