EMAILED: 6/24/2016 11:20AM Central: Recognizing markets move quickly and that can make opinions change, here are some of Northlake’s thoughts this morning after Leave wins the UK referendum: Uncertainty. It is an old adage but the fact is that Wall Street dislikes it. Brexit creates a lot of uncertainty as there really has never been […]
There were no changes to the recommendations from Northlake’s models for July. The Market Cap model still favors Mid Cap and the Style model remains in neutral mode. As a result, there will be no changes to the ETF holdings in client portfolios. The Market Cap model will continue to be represented by the S&P […]
There are no changes to the recommendations from Northlake’s Market Cap and Style models June. The Market Cap model is recommending Mid Cap for a second consecutive month, while the Style model remains on a neutral reading for the third consecutive month. With no changes to the signals, client positions following the Market Cap model […]
CBS reported a good quarter beating consensus EPS estimates comfortably with small upside in revenues. The implication is good performance on profit margins and that was indeed the case especially in the core entertainment assets (CBS Network and content production) and the local TV stations. Advertising drove the upside, with a gain of 31% exceeding […]
Liberty Global (LBTYK) reported slightly disappointing 1Q16 earnings. However, the 2016 was maintained and the long-term story is intact. Management made a strong case that any shortfalls were not unexpected based on internal budgeting and investors and analysts seemed to buy it as the shares finished positive after starting lower in response to the headlines. […]
Liberty Media reported results following its split into three tracking stocks. Northlake sold the shares that track ownership of the Atlanta Braves, the team’s new stadium, and the real estate development adjacent to the stadium. We continue to hold shares in Liberty Sirius (LSXMA/LSXMK) and Liberty Media (LMCA/LMCK). We read nothing in the quarterly reports […]
Activision Blizzard (ATVI) bounced back from a disappointing end to 2015 with a strong beat on sales and earnings in the first quarter of 2016. ATVI also increased guidance for 2016. Based on the first quarter and management commentary on the conference call, we believe analyst estimates could be revised higher throughout the year as […]
Comcast (CMCSA) reported another good quarter, seemingly a habit for the company. Against a lot of noise and negative headline regarding cord cutting, cord shaving, anti-cable regulation, and technological change, the company continues to execute superbly. The latest quarterly results were issued almost simultaneously with the acquisition of DreamWorks Animation (DWA). CMCSA paid a steep […]
Apple (AAPL) reported a disappointing quarter and issued guidance for the June quarter that was below expectations. Missing the quarter on revenue and EPS is highly unusual for Apple. There have been times in the past where guidance was considered disappointing but missing against consensus expectations on revenue and EPS is unusual. Shipments of iPhones […]
In our initial blog post on Facebook (FB), we noted that the shares could reach $140 based on $4.00 in EPS power in 2017. After another blowout quarter in 1Q16, 2017 estimates now average over $4.50. Our confidence in the $140 price target has risen and that level may prove conservative. FB reported revenue growth […]
