AT&T (T) reported mixed 4Q21 results and issued guidance for 2022 that was below expectations and back-half loaded. This is a setback to our investment thesis after several quarters of improved operational and financial performance. Some of the issues are one-time in nature which should allow 2H22 to reveal steady growth of the new communications-focused […]
We added AT&T (T) to Northlake’s portfolio of individual stocks. Not all clients use individual stocks as part of their strategy, and a few that do may not have purchased T due to unique client constraints. In most cases, the purchase was financed by cash reserves in client accounts. T is a low-risk, moderate-reward way […]
Several companies held in Northlake client portfolio recently announced stock splits. Discovery Communications (DISCK) and Liberty Media (LMCA) announced stock splits that will become effective over the summer. Apple (AAPL) also announced a split effective in early June. These announcements follow Google issuing new non-voting shares as a 2 for 1 split. As a reminder, […]
Discovery Communications (DISCK) reported a slightly disappointing March quarter results. Most of the miss was not at the domestic or international cable networks. However, investors are treating the stock harshly even after poor year-to-date performance. In hindsight, I should have sold DISCK when the company went on its European acquisition spree as it was out […]
Discovery Communications (DISCK) reported results roughly in line with Wall Street estimates and provided 2014 guidance just a little below expectations. Estimates for the December quarter and 2014 had been falling recently as DISCK’s leading U.S. networks, Discovery and TLC, had a rough patch of lower ratings. The stock has performed poorly during this period […]
After a couple of quarters where Discovery Communications (DISCK) did not quite meet the high expectations the company has rightly created for itself, third quarter 2013 results hit the mark. Domestic advertising and affiliate growth were ahead of expectations. International growth was a little light but clear indications that the company’s acquisitions in Europe are […]
Discovery Communications (DISCK) shares have traded off 5% since reporting June quarter earnings. The underlying organic growth rates were largely in line with estimates but accounting adjustments related to the company’s acquisitions in Europe earlier this year led to a reduction in net income guidance for the year and miss on reported EPS for the […]
Most major media companies reported earnings this week including those in Northlake’s portfolio of individual stocks. As has been the case with the broader market, earnings reports and guidance from Northlake’s portfolio was mixed. CBS was the clear winner with a solid quarter amid tough circumstances and a confident outlook for the December quarter and […]
This week was a big one for media earnings. Besides Northlake holdings CBS and Discovery Communications, we heard from Viacom, Time Warner, Scripps Interactive, and Comcast Against a cautiously optimistic backdrop, the results came through inline to slightly better than expected with CBS leading the way again. The outlook for the rst of the year […]
The final batch of earnings this quarter for Northlake holdings comes from the media stocks. Much like with the earlier reports from the technology stocks, the results and guidance were good but the stocks went lower. The stock reactions are mostly a function of the market correction underway so far in May, a decline of […]
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