One of the reasons I remain bullish on Comcast (CMCSA/CMCSK) is that the much feared price war over the components of the triple play – cable TV, high speed internet, and telephony – has not come to pass. In fact, what has long been feared to be a fight to the death is looking a […]
Over the weekend, the Wall Street Journal reported that Providence Equity was taking a control position in shopping comparison website Nextag.com. Nextag is the #2 shopping comparison website, trailing, Shopping.com. The #3 shopping comparison site is Shopzilla.com, owned by E.W. Scripps (SSP). SSP shares have rallied on takeover speculation due to similarities with Dow Jones […]
Several stocks in the Northlake portfolio have had newsworthy items over the past week. Here is a recap of the latest news, all of which I think is positive. Disney (DIS) completed the sale of almost all of its radio operations to Citadel Broadcasting (CDL). DIS shareholders received .0768 shares of CDL for each share […]
According to AdAge.com, advertising spending in the first quarter fell by 0.3% excluding paid search. The data is from a study by TNS Media Intelligence. With GDP growth in the low to mid single digits, historical correlations would suggest that advertising growth should have been closer to 3-5%. Part of the problem was a tough […]
The big three summer movies have now each been in theatres for more than two weeks. Together they are on track to gross about $900 million domestically, a huge number by any means (only 23 movies have ever grossed $300 million), but one that is a modest disappointment to many observers including myself. Spiderman 3 […]
Yesterday several brokerage firms initiated coverage on recent IPO Cinemark Holdings (CNK), the third largest operator of movie theatres. Not surprisingly, the underwriters are providing favorable coverage including new buy recommendations. A few brokers expressed their preference for CNK over Regal Entertainment (RGC), the largest theatre operator and one of my long positions. The analysts […]
There were no changes to Northlake’s Market Cap and Style models for June. The signals remain large cap and value. The large cap signal remains very strong, while the value signal remains weak. As a result of the updated signals, there are no changes to the holdings in the portion of the portfolios I manage […]
Lionsgate (LGF) shares are trading down about 4% following the release of the company’s 4Q07 results and 2008 guidance. As usual, the accounting is complicated but overall I think the results and guidance are fine and expect the shares to bounce back. For 4Q07, LGF reported EPS of 19 cents on revenues of $332 million. […]
NII Holdings (NIHD) shares rose over 3% yesterday following an announcement that the company would be issuing $1 billion in new convertible notes and buying back $500 million shares. Four million shares will be purchased contemporaneously with the closing of the convertible offering. Full use of the authority will retire about 3% of the outstanding […]
While Disney (DIS) shareholders digest the box office and stock market reaction to Pirates of the Caribbean: At World’s End, the company announced details of the divestiture of most its radio business. According to press release issued Friday, on June 12th, DIS shareholders will receive .0766 shares of Citadel Broadcasting (CDL) for each share of […]
