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 […]
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 […]
In an extremely unusual development, Apple reported revenues and earnings well below the Street’s estimates. More normally, the company guided earnings for the September quarter below estimates. However, the gap to analyst estimates was unusually large, effectively making this quarter and a “miss and lower.” In response Apple shares are trading down 5%. Given the […]
The early part of each quarterly earnings season is focused on technology companies as far as Northlake Capital Management’s strategies are concerned. Thus far, we have heard from Google (GOOG), Qualcomm (QCOM), and EMC Corporation (EMC). All three stocks reacted well to their earnings announcement, recovering a significant portion of recent share price declines. Heading […]
Liberty Global (LBYTK) reported another solid quarter despite having virtually all of its cable operations in Europe. The company operates primarily in the stronger Northern European countries of Germany, Netherlands, Belgium, and Switzerland. However, the real secret to another quarter of solid growth is the well-timed acquisition in German over the past few years. For […]
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