Apple (AAPL) reported good September quarter earnings driven by better than expected revenue everywhere but iPhones. Profit margins were a little light driven by the mix shift away from iPhones. A lower tax rate assisted the revenue upside to produce EPS about 10% ahead of consensus estimates. The critically important guidance for the holiday quarter […]
Northlake’s Market Cap shifted to small cap for November. The Style model still recommends growth. Given these fresh signals, client positions following the Market Cap model will sell holdings in the S&P 400 Mid Cap (MDY) and purchase the Russell 2000 (IWM). Although the growth signal is unchanged, the shift to small cap in the […]
Comcast (CMCSA) reported in line results for 3Q17 although admittedly expectations on subscriber metrics had been reduced after the company adjusted its guidance. Financial results matched initial expectations and were never adjusted lower despite the lower subscriber counts. Comcast shares fell 15% from all-time highs since the company announced in September that they would lose […]
Sherwin Williams (SHW) has been added to Northlake’s individual stock portfolio. SHW is the type of high quality, long-term growth company we prioritize. The company is in the process of integrating the acquisition of Valspar. We have been awaiting more clarity on progress of the integration and an updated multiyear outlook to confirm our bullish […]
Each of Northlake’s models flashed a new signal for October. The Market Cap model shifts from large cap to mid cap after four months favoring large cap. The Style model moves to growth after two consecutive months at value. In response to the new signals, client positions following the models that owned the S&P 500 […]
There are no changes to the signals from Northlake’s Market Cap and Style models for September. The Market Cap model is recommending large cap for the fourth straight month, while the new neutral signal generated last month by the Style model stays in place. As a result of the latest model update, clients will continue […]
Two years ago, in August 2015, Disney (DIS) set off the angst that has troubled traditional media stocks since by admitting to larger than expected subscriber losses at ESPN. We refer to August 2015 as the Media Meltdown. This May, another round of media companies created a smaller, mirror image decline in media stocks, this […]
Liberty Global (LBTYK) showed progress in 2Q17 after a disappointing 1Q that was accompanied by lowered 2017 guidance and a major reset and management change related to its UK buildout known as Project Lightning. 2Q17 was mixed for LBYTK with rebased revenues a bit below reduced expectations, new subscriber additions below expectations, and operating cash […]
Another fairly quiet quarter is in the books at Liberty Media which controls tracking stocks in Formula One (FWONA/K) and Liberty Sirius (LSXMA/K). LSXM controls nearly 70% of SIRI and SIRI had already reported strong second quarter results so there was very little discussion on that front. FWON was the primary subject although there were […]
Disney (DIS) reported a mixed quarter that was completely overshadowed by its announcement of a new strategy for its media networks. The shares are trading lower, which in Northlake’s opinion is logical. Making major investments into digital, over the top distribution of its sports rights and Disney and Pixar content is going to be expensive […]
