I feel I have done a good job and a bad job with Northlake’s investment in Rogers Communications (RCI). On the one hand, I initially purchased RCI for clients in December 2006 around $29. With the stock at $39, up 34%, I should have no complaints. However, in early November the stock was in the […]
Comcast provided the stability and achievable guidance that is required to get a relief rally and improve sentiment toward the shares. The financial and subscriber results for 4Q07 were very close to guidance provided on December 4th. If anything the financial results for revenue, EBITDA, operating margins, and free cash flow were slightly better than […]
News Corporation has sat out this week’s rally, falling about 2%. I think the problem is fear over a bid for Yahoo. These fears persist despite very strong denials of interest from Rupert Murdoch and Peter Chernin on the quarterly conference call just ten days ago. The latest rumor is some sort of joint bid […]
Prior to its 4Q07 earnings report last Thursday, shares of Regal Entertainment had already recovered from the sharp sell-off driven by poor box office trends during the fourth quarter. A strong start to the box office in 2008 also was helping. The recovery gained steam following the report which was inline with expectations and a […]
Dreamworks Animation reported better than expected 4Q07 results. EPS of 98 cents beat the 75 cent consensus even after backing out a tax benefit. Revenues of $290 million were ahead of the $285 million consensus and many recent estimates in the $265 million range. The upside came from higher than expected DVD sales of Shrek […]
Disney reported an exceptional quarter. EPS of 63 cents and revenues of $10.45 billion crushed estimates of 52 cents and $10.04 billion. Revenue growth was 9% and operating income gained 15% vs. expectations of 3%. Non-recurring items contributed no more than 2 cents to the EPS number. On the conference call, management indicated that so […]
Central European Media Enterprises (CETV), announced very good news yesterday. CETV will purchase the minority interests in its lead station in Ukraine, Studio 1+1. CETV will immediately take its 60% interest to 90% and has a put call option exercisable a year after closing for the remaining 10%. The 30% piece is being purchased for […]
I find little to get excited about regarding Time Warner’s quarterly results, guidance, or commentary. The results were quite close to expectations pretty much across the board. The guidance contained no surprises. Commentary about business conditions and strategic actions offered little new insight. The shares are trading up 5% in a strong tape for media […]
News Corporation reported excellent third quarter beating consensus estimates on EPS, revenue, and operating income. Strength was virtually across the board with every segment beating estimates on the operating income line. Topping off the good news, operating income growth guidance was raised from low teens to mid teens. On the call management addressed the two […]
Disney is expected to report its weakest growth quarter in several years but I do think investors should interpret it as the end of Disney’s multiyear run of superior financial results. Tough comparisons and the challenges of a weakening consumer are driving the slower growth but there is a good chance Disney will beat estimates […]
