It me a full month to complete the sale of Rogers Communications across all Northlake client accounts. Here is a link to my post following the initial sales. The post explains the rationale for exiting the position. Besides the research, clients should take away a couple of things form the sale of Rogers. First, when […]
By now everyone knows that NBC’s Olympic coverage produced great ratings, the best since TV truly became multichannel as opposed to just a three or four channel nightly option for viewers. Press reports also indicate that ad demand picked up as the games were going enabling NBC produce a profit of as much as $100 […]
Central European Media Enterprises (CETV) shares sold off heavily last Tuesday, dropping over 10% mid-day and closing down about 7% to set a new 52 week low. A number of factors are at work: worries about Russia’s intentions towards Ukraine, dollar strength, emerging market GDP worries, lousy emerging market stock markets, fears about an expensive […]
It’s been awhile since I provided an update on the domestic summer box office. Relative to my initial expectations it continues to shape up well. Since the first weekend in May, Hollywood’s official start to summer, the box office is unchanged from 2007’s all-time record. Given my expectations, including particularly tough comparisons in July and […]
One of Northlake’s biggest portfolio headaches is a lot better today. Pain relief came in the form of very solid quarter from American Apparel (APP). 2Q results were inline to a bit better than the few analyst estimates. Revenues of $133 million exceeded the estimate of $126 million. EPS of 10 cents matched estimates despite […]
Today’s New York Times had a good article explaining why the lending availability is drying up in the US. This is a very important point for the near-term market and economic outlook. Our economy requires easily available credit to function near maximum efficiency. Credit availability went over the top in the past few years expanding […]
Following completion of Time Warner’s 2Q08 conference call I purchased the stock widely across the Northlake client base and in my personal accounts. The purchase is based on my new, more bullish view of the company’s prospects over the next 12 months. TWX finally seems to be emerging from a prolonged period of restructuring and […]
I sold all client and personal positions in Dreamworks Animation (DWA) on Tuesday after it had rebounded from overzealous selling following its own 2Q08 report. The sale of DWA was a result of my trading thesis falling apart when the company indicated that higher than expected international marketing costs would take away the earnings upside […]
Central European Media Enterprises (CETV) remains my favorite media stock for all time horizons. Despite my enthusiasm the shares have performed poorly this year. Although, within the media stock universe, the 20% drop since June is not unusual. Neither is the 36% decline from the 52 week high. However, there is one big difference. CETV […]
Once again there were no changes to Northlake’s monthly Market Cap and Style models. The Market Cap signal remains mid cap and the Style signal remains growth. As a result, Northlake continues to own the S&P 400 (MDY) and the Russell 1000 Growth (IWF) for assets devoted to this strategy. The Market Cap model remains […]
