I attended Central European Media Enterprises (CETV) Investor Day in Prague on October 15th. The stock is presently not widely held by Northlake clients but I continue to monitor it closely as I strongly believe that when advertising growth returns to Central and Eastern Europe, the company’s results will have a V-shaped recovery and the […]
Central European Media Enterprises (CETV), one of my long-time favorite stocks which I stupidly rode all the way down, soared on Monday following the announcement that it was selling a 31% stake to Time Warner (TWX) at a 20% premium to Friday’s close. Apparently, I was not the only who believed that CETV had sunk […]
Central European Media Enterprises (CETV) reported mixed 4Q08 results excluding impairment charges and currency impacts. Commentary on 2009 was much bleaker than the company had previously admitted but was more or less in line with recent analyst comments and estimates. In fact, Goldman this morning made virtually no changes to its model. The story on […]
CETV shares are approaching their November low including a 2-day drop of over 20% last Thursday and Friday. I received a bunch of emails asking for an update. CETV has been closely tracking currency. As the euro and CEE currencies weaken the stock goes down. The December rally (more than a double) coincided with those […]
Central European Media Enterprises (CETV) presented on Monday morning at the 36th Annual UBS Media and Telecom Conference in New York City. The presentation appears to be contributing to a rebound in the shares which are up 13% today to their highest price since mid-November. Also contributing to the rally has been modest strength in […]
It is embarrassing to write about Central European Media Enterprises (CETV) given that I have owned it for Northlake clients and bought more and spoke positively about it all the way down, but I am not one to hide my screw-ups. This column is a bit long, but I owe clients and readers a detailed […]
This excerpt from the Wall Street Journal is interesting as it pertains to CETV: “But it’s not just tough conditions that explain the slack sales of L’Oreal’s cosmetics and its profit warning. That performance contrasts with robust sales and outlooks at Colgate-Palmolive and Unilever, more diverse rivals selling cheaper personal-care products. L’Oreal may have simply […]
Over the past eight days, CETV held its annual analyst meeting and reported its 3Q08 results. These events seem to have halted the punishing decline in the shares which fell from the upper $60s at the end of September to a low of $18 this past Tuesday. As f this writing the stock has rebounded […]
I am heading to NY Thursday morning to attend CETV’s annual analyst meeting which convenes at noon. CETV has long been my favorite stock (since 2001) offering a combination of growth, value, and superb management. However, over the last four months the stock has been an absolute disaster. First, investors lost confidence in advertising growth […]
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 […]
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