There are no changes to the recommendations from Northlake’s Market Cap and Style models for the month of September. Mid Cap and Growth continue as the favored themes. As a result, current client positions that follow the models will remain invested in the S&P 400 Mid Cap (MDY) and the Russell 1000 Growth (IWF). The […]
Liberty Global (LBTYK) reported results right in line with Wall Street estimates for its 2Q15. Adjusted growth in revenues and operating cash flow were both up about 3%. We expect that 2Q15marked the last quarter where LBTYK reports slower growth. Management agrees and reiterated its guidance for a pickup to mid-single digit growth or higher […]
Liberty Media (LMCA/LMCK) reported a typically quiet quarter. Over 80% of the value in Liberty is represented by the company’s controlling stake in Sirius XM Satellite Radio (SIRI). SIRI reported a great quarter a few weeks ago with better than expected subscriber growth and financial results. Management raised 2015 guidance and we still think the […]
CBS reported most inline results for 2Q15 with a bias slightly above Wall Street estimates. In a rough week for media stocks due to cord cutting fears triggered by Disney’s report, CBS share held up much better than average. Northlake agrees as CBS is much less exposed to cord cutting fears than other media stocks. […]
Disney (DIS) reported slightly better than expected earnings for the quarter ending June 2015. The results continue a string of results above expectations driven primarily by the incredible success of the company’s content strategy including hit films from Marvel, Pixar, and Disney Animation. This success is projected to continue later this year with another Pixar […]
After a two month run at large cap, Northlake’s Market Cap model shifted to mid cap for August. As a result, Northlake client positions invested in the models have sold the S&P 500 (SPY) and reinvested in the S&P 400 Mid Cap (MDY). There is no change to the large cap growth signal coming from […]
La Quinta (LQ) reported solid operating results for the second quarter despite some headwinds and investor worries. Revenue and EBITDA matched Wall Street estimates despite three unexpected issues. First, the massive rainfall and flooding in Texas impacted occupancy in the state, which contains 25% of LQ’s hotels. One LQ hotel in San Marcos was flooded […]
Comcast reported mostly in line results for its 2Q15. Nothing changes in the long-term story, which we continue to like very much. Comcast offers steady and predictable, if modest growth, a great balance sheet, double digit growth in free cash flow, and shareholder friendly management that acts with an element caution. Comcast is composed of […]
Apple (AAPL) reported slightly disappointing earnings relative to very high expectations. iPhone shipments of 47.5 million fell a little short of 50 million plus expectations and while the company did not breakout Watch sales, it is easy to infer a range of 2-3 million, short of the 3-4 million consensus. Guidance for the September quarter […]
Google (GOOG/GOOGL) reported slightly better than expected 2Q15 earnings. Revenue growth picked up slightly after a long string of decelerating growth quarters. This proved reassuring to investors concerned about Google’s long-term growth rate amid a shift to mobile where app usage theoretically hurts traditional search which Google dominates. Equally important for the stock, expense growth […]
