Google (GOOG) reported another good quarter. Please note I am defining “good” as satisfactory to investors. GOOG went through a roughly six quarter stretch in 2012 and early 2013 where despite showing sustained 20% plus growth, investors were concerned. These last two quarters have addressed the concerns and GOOG shares have moved up sharply to […]
There were no changes to the signals from Northlake’s Market Cap and Style models for February. The Market Cap model continues to favor mid cap and the Style model still recommends value. With no changes to the signals for this month, Northlake client positions in the S&P 400 Mid Cap (MDY) and Russell 1000 Value […]
I often think that my best analysis comes from real-time commentary as I listen to the conference calls that accompany the quarterly earnings reports from the companies I follow. In the past, I have offered my twitter comments on Apple (AAPL). Below are my instant message comments sent to a colleague who helps me out […]
Comcast (CMCSK) reported another excellent quarter and indicated the outlook for 2014, and even 2015, is strong. Showing confidence in its business strategy, execution, and growth potential, the company increased the dividend by 15% and expanded its share buyback program by $3 billion. The headline financial metrics for the fourth quarter were impressive: revenue +5.8%, […]
Northlake’s models start 2014 with a switch from growth to value in the Style model. This change occurs after three months on the growth signal during which growth outperformed value by a little less than 1%. As a result of this fresh signal, all client positions in the Russell 1000 Growth (IWF) were sold and […]
Northlake’s Market Cap model shifted back to Mid Cap after a brief, one month stop at large cap in November. As a result of the new signal, client positions in the Russell 2000 (IWM) were sold and the proceeds were reinvested in the S&P 400 mid Cap (MDY). There was no change to the Style […]
Liberty Media (LMCA) and its former subsidiary Starz (STRZA) reported earnings last week. LMCA is an asset play where value is created through its ownership of significant stakes in other public companies, including a majority interest in Sirius XM Satellite Radio and 25-30% stakes in Live Nation Entertainment (LYV) and Charter Communications (CHTR). LMCA also […]
Liberty Global (LBTYK) reported results that matched Wall Street expectations with rebased revenue and EBITDA growth of 3%. New subscriber growth surprised meaningfully to the upside following last quarter’s disappointing growth. Investors have been worried about the second half of 2013 growth due to tough competition in Netherlands and England and last quarter’s modest slowing […]
Qualcomm (QCOM) reported 4Q13 results mostly in line with expectations. However, guidance for 2014 indicated slower growth in units and a slight decrease in average selling prices. The guidance led analysts to reduce their outlook for revenues and operating income for 2014. However, QCOM’s commitment to large share repurchases leaves earnings estimates unchanged at a […]
CBS reported solid but unspectacular third quarter 2013 results. EPS matched Wall Street consensus of 76 cents, up from 64 cents a year ago. Revenue grew 11% but EBITDA was up only 4%. Revenue was a little ahead of estimates, while EBITDA fell slightly short. Unlike many recent quarters, CBS did not show an upside […]
