In our initial blog post on Facebook (FB), we noted that the shares could reach $140 based on $4.00 in EPS power in 2017. After another blowout quarter in 1Q16, 2017 estimates now average over $4.50. Our confidence in the $140 price target has risen and that level may prove conservative. FB reported revenue growth […]
ClubCorp (MYCC) reported another solid quarter further putting to bed the bear case that has led the stock to decline by more than 30% in 2016. The concerns have revolved around the Texas economy, membership trends, lack of margin expansion and return on recent acquisitions, high debt levels, and declining participation in golf. Each of […]
Google (GOOG/GOOGL) reported slightly disappointing revenue and lower than expected EPS against elevated street expectations for 1Q16. The shares are trading down by -5-6% this morning. The decline in the stock is understandable but Northlake does not feel there is much to worry about in terms of the key trends that drive Google’s business. We […]
Effective this past Monday, Liberty Media completed its restructuring into three tracking stocks. For each share of Liberty Media (LMCA/LMCK), you received one share of Liberty Sirius (LSXMA/LSXMK), 0.10 shares of Liberty Braves (BATRA/BATRK), and 0.25 shares of new Liberty Media (LMCA/LMCK). Liberty Media is a collection of media and entertainment assets managed by John […]
ClubCorp (MYCC) shares were cut in half in the first 8 weeks of 2016 as investors grew concerned about the company’s exposure to Texas. Approximately 30% of MYCC’s country clubs are in Texas with 8% in Houston. A second part of the problem was an extremely negative research report issued by a broker that emphasized […]
Liberty Media (LMCA/LMCK) reported quarterly results last week and as usual the focus was on the company’s portfolio of assets. Liberty trades in relation to its net asset value rather than its earnings and cash flow like most stocks. There were three interesting pieces of news from the press release and conference call. First, Liberty […]
Following a rough stretch that management described as a perfect storm, Liberty Global (LBTYK) had some good news today. First, 4Q15 earnings met expectations with 4% adjusted revenue growth and 6% adjusted operating cash flow growth. This marked the second consecutive quarter of accelerating growth after a below par 1H15, exactly as management had promised. […]
After a year of negative operating income growth and falling earnings estimates, CBS is back on track. The recently reported 4Q15 showed operating income growth of over 6% and for the first time in nearly two years, analysts maintained their earnings estimates. 2016 sets up very well for CBS with a stronger national TV adverting […]
Comcast continued its long string of good quarterly earnings reports with the highlight being the best cable TV subscriber growth in nine years. Yes, for all the worry about cord cutting, Comcast added subscribers in 2015. And growth in broadband subscribers, where Comcast and the cable industry maintain dominance with the fastest network continued unabated. […]
Activision Blizzard, Inc. (ATVI) reported disappointing quarterly results with revenue, earnings, and guidance all worse than expected. The shortfall in the fourth quarter was driven by unfavorable foreign exchange rates and weakness in ATVI’s casual franchises on consoles, Skylanders and Guitar Hero. The underwhelming guidance for next year was mainly due to a delayed release […]
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