TV stocks have had a good rally in the past week for the first time since May. Among Northlake positions, this includes Disney (DIS), CBS Corporation (CBS), and Nexstar Media Group (NXST). Each has rallied between 5-10% off of at or near 2017 lows. The challenges facing TV have metastasized this year. The issues are […]
Disney (DIS) reported a mixed quarter that was completely overshadowed by its announcement of a new strategy for its media networks. The shares are trading lower, which in Northlake’s opinion is logical. Making major investments into digital, over the top distribution of its sports rights and Disney and Pixar content is going to be expensive […]
Disney (DIS) reported first quarter earnings of $1.50, up 10% from a year ago, and ahead of Wall Street estimates of $1.41. Revenues grew just 3% and operating income just 5% as EPS benefited from a lower than expected tax rate and share repurchases. DIS shares have reacted negatively to the report, falling -2% to […]
Disney (DIS) reported its second consecutive quarter of lower year over year revenue, operating income, and earnings growth as it faces difficult comps from the massive success of Star Wars: The Force Awakens and a big step up in programming expenses due to the new NBA rights contract that went into effect this season. While […]
Disney (DIS) reported FY2016 results with sales and earnings modestly below expectations. While the results were slightly underwhelming, investors were more focused on the outlook for 2017 and beyond. Although DIS faces difficult comparisons next year, due largely to year ago strength in Frozen consumer products and Star Wars: Episode VII box office receipts, we […]
Disney (DIS) reported slightly better than expected result for its 3Q16 driven by theme parks and the film studio. There were slight shortfalls vs consensus expectations at media networks and consumer products although there was no further deterioration in affiliate fee trends and subscriber losses at ESPN. It has been the worries about ESPN that […]
Disney (DIS) reported a rare miss on sales and earnings in the fiscal second quarter of 2016. The disappointing results were driven by weakness in the consumer products and media networks segments. The studio segment continued to produce excellent results, driven by Zootopia in the quarter. Parks and resorts also performed well in the quarter, […]
Disney (DIS) reported excellent December quarter earnings driven the massive success of Star Wars. Star Wars not only drove the studio but also boosted consumer product sales. Theme parks also had a very strong quarter. Despite a big beat to consensus EPS estimates, investors focused on slightly disappointing growth in affiliate fess earned by DIS’s […]
Disney (DIS) reported better than expected 4Q15 earnings, a great relief to investors following the controversial 3Q 15 report in August that send DIS and other media stocks into a spiral of declines ranging from 20-30% in just a few weeks. The issue in August was a lowering of guidance due to foreign currency hedges […]
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 […]
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