Last week, Central European Media Enterprises (CETV) announced an equity offering. The company appears to be raising cash for future investments as the SEC filing document indicates the proceeds of the offering will go in the bank. I doubt it will stay there for long but assuming the interest earned will 4%, I see the […]
A fellow contributor to StreetInsight.com recently wrote a good piece on Motorola (MOT). Jeff Bagley and I share a similar view of stock market investments and own several of the same stocks for our clients. Since you are probalby getting bored with my commentary, please click “Continue Reading” to read Jeff’s insightful thoughts on MOT.
It’s been a rotten year so far for shareholders of Apple Computer (AAPL). AAPL shares have fallen almost 10% against a gain of close to 6% for the S&P 500. I’ve felt the pain as all clients of Northlake and my own accounts own AAPL. My pain was lessened a bit this weekend when I […]
Not a lot of value added in the Liberty Media (L) 4Q05 earnings release or conference call. As expected, all of the discussion concerned operating results at QVC and Starz Encore and the upcoming restructuring of L into two stocks. I can accept the complex analyst spreadsheets that suggest L shares have a net asset […]
Dreamworks Animation (DWA) 4Q05 earnings were slightly better than expected, coming in at 49 cents after adjustment for two one-time items. Before adjustments, EPS were 61 cents. Consensus expectations called for 42 cents. Revenue exactly matched estimates, coming in at $173 million. As expected, 4Q results were driven almost entirely by DVD sales of Madagascar […]
Disney (DIS) continues to act better than any other mega cap media stock. I think there are three reasons behind the good action. First, Bob Iger has clearly laid out a content driven strategy and acted to make it happen by divesting radio and acquiring Pixar (PIXR). Second, all of DIS’s divisions will be growing […]
One impact on the on the cable companies of the AT&T (T) – BellSouth (BLS) merger that I did mention in my previous post was wireless telephony. As has been widely discussed, one of the driving forces behind the T-BLS merger is the consolidation of Cingular wireless with T and the rebranding of the service […]
As a follow-up to my earnings coverage of Central European Media Enterprises (CETV), I wanted to mention that my spreadsheet now assumes 20% segment level EBITDA growth for 2006 to $237 million. EPS, using a very non-GAAP formula comes out at $2.20. For 2007, I think 15% EBITDA growth is easily achievable, with EPS potentially […]
Some observations and thoughts related to cable and media on the AT&T (T) – BellSouth (BLS) merger after reading through all the stuff that my email inbox: • I’ve been bullish on Comcast (CMCSA/K) using a thesis that the shares had room to rise as long as the window remained open for a year or […]
