Egypt, Libya and the rest of the Middle East are not the only places where Liberty is on the March. The latest earnings report from Liberty Media indicates that all is well at Liberty Starz (LSTZA) and Liberty Capital (LCAPA), two of the three tracking stocks making up John Malone’s domestic media empire. The big […]
CBS reported slightly better than expected 4Q10 results, no small feat given rapidly rising estimates and a surging stock price. Adjusted EPS of 46 cents beat the street consensus of 44 cents. Revenues of $3.9 billion exceeded consensus by about $50 million. EBITDA was better than expected at the segment level, driven by beats at […]
Discovery Communications (DISCK/DISCA) reported 4Q10 results largely inline with expectations. Revenue and EBITDA grew 7% and 16%, respectively. There were a few warts in the report. Domestic advertising came in 100-200 basis points below reduced expectations as ratings weakness in 4Q took a toll. Domestic growth of 13% is still nothing to sneeze at although […]
Despite another strong earnings report, Wall Street is worried about the implications of Google’s management change. Is it a sign that things are not as good as earnings make them appear? It has been an interesting several trading days in Google (GGOG) shares. After the close on Thursday, January 20th, GOOG reported very good 4Q10 […]
Following the disclosure that Steve Jobs would take a medical leave of absence, Apple reported another in a string of incredibly strong quarterly earnings reports. The reported numbers easily beat expectations. Revenue upside came mostly from higher than expected selling prices with unit volumes in line with the high end of expectations. iPad volumes were […]
Walter Piecyk, an analyst I know at BTIG, wrote the following brief comment on Apple and published it this morning. The volume of Wall Street commentary on Apple this morning is enormous as expected. Walter’s note best captures my thinking so I reproduce it here with the hope that Walter and BTIG don’t mind. “The […]
Yesterday I began building client positions in the shares of Liberty Capital (LCAPA). Not all client positions were purchased but I expect to complete the buys within a few days. LCAPA is somewhat thinly traded and its shares are tied closely to those of Sirius XM (SIRI) making trading a bit tricky. LCAPA is the […]
Last Friday, I attended Virgin Media’s (VMED) analyst meeting in New York. Here are my thoughts: Despite jumping from $15 to $27 since Janaury 2010, VMED still has excellent upside as free cash flow is set to accelerate and management appears very disciplined toward using it to pay down debt and repurchase shares. Given the […]
Discovery Communications (DISCK) reported good 3Q10 results. EBITDA beat estimates indicating fundamental health of the business but EPS missed due to incentive compensation costs related to the steadily rising stock price. Also disappointing was an almost complete lack of share repurchases. DISCK reported after the close on Tuesday, a week ago. The stock had closed […]
CBS reported slightly better than expected results in 3Q10. Revenues fell a little short of expectations at $3.3 billion. Estimates called for an additional $60 million. However, excellent margins led to EBITDA of $667 million, ahead of estimates for $642 million. The operating beat flowed through to EPS and the adjusted EPS of 35 cents […]
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