Last week two of Northlake’s stock holdings in the technology sector reported earnings. The verdict was mixed with QUALCOMM (QCOM) reporting another outstanding quarter and issuing guidance for 2013 above Wall Street expectations. EMC Corporation (EMC) reported earnings in line with recently lowered Wall Street estimates but issued slightly disappointing guidance. As would be expected, […]
Apple reported largely inline December quarter results. Revenues of $54.5 billion were barely shy of consensus and EPS of $13.81 were barely above consensus. Gross margins exceeded guidance and were close to the most optimistic street estimates. Product sales were about as expected except for Macs, which missed by lot. Guidance was below the street […]
Google (GOOG) has consistently produced 20-25% growth for the last three years but the stock has gone nowhere. Investors have worried that the growth will slow due to competition from social media (Facebook) and the shift from desktop to mobile search. Over the past week, both of these issues have been addresses with a favorable […]
Qualcomm (QCOM) bucked the trend of negative earnings and lowered guidance that has been prevalent in technology stocks this quarter. The company reported a good old fashioned “beat and raise” quarter. The shares are responding very well, up 4% in a down market. I like QCOM because it is the Intel of smartphones. Much as […]
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 […]
Apple reported decent September quarter results against low expectations following lots of worry about demand trends and recent data that revealed iPad sales would be below expectations. Revenues of $36 billion were up 12% year over year and in line with consensus forecasts. EPS of $8.67 rose 23% vs. a year ago but slightly missed […]
EMC reported results that were slightly below Wall Street expectations and management’s prior guidance. In addition, management lowered full year guidance. Interestingly, the stock is down barely over 1% today, a good performance given the huge drops at other tech companies after reporting earnings. Many stocks that have yet to report dropped a lot more […]
Google’s results and the negative stock price action are a good chance for me to reflect. In my Entermedia hedge fund, Google is the second largest long position. At Northlake, my long only registered investment advisor, Google is widely owned but a slightly below average position. As a generally long-term investor, my initial thought is […]
CBS has been a huge winner for Northlake clients. Initially purchased in the summer of 2009 near $6, the stock has soared thanks to great ratings at its CBS and Showtime networks, excellent cost management, and aggressive share buybacks and dividend increases. The addition of retransmission fees paid to CBS by cable and satellite companies […]
Last week saw the final three holdings in Northlake’s individual stock portfolio report their latest quarterly earnings. The news was good across the board, rounding out an excellent earnings season for Northlake’s portfolio that has been well received by investors. Liberty Global continues to grow its subscriber base in Europe at a rapid clip. Good […]
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