Disney wraps up September quarter earnings for media and communications companies when it reports after the close on Thursday. Analyst estimates call for EPs of 40 cents on revenue of $92.6 billion. If estimates are hit, revenues will be down about 2%, operating income will fall 15-20% and EPS will be down 4%. At the […]
CBS reported modest upside to estimates in 3Q09 with most of the excess coming from the syndication business. However, it was still a strong quarter of improvement with the CBS Network returning to positive ad growth, dramatically lower ad revenue declines at the local TV stations, and modest improvement but still deeply negative ad sales […]
Discovery Communications (DISCA) reported another good quarter, making it five in a row since the company went public in September 2009. The upside was not as big this quarter than prior quarters but that is due to factors beyond management control: higher expectations and analyst estimates and a still tough environment for advertising sales. What […]
When I first read the DirecTV press release I was worried the stock would trade down. I saw the results as mixed with a few negatives offsetting plenty of positives. I sure was wrong. As the conference call concludes, the stock is up 6.1%. I think part of the gains relate to ongoing takeover speculation […]
Northlake clients own DirecTV (DTV) through their position in Liberty Media Entertainment (LMDIA). LMDIA owns 54% of DTV. DTV will acquire LMDIA prior to year end in a transaction that has already received all necessary government approvals. LMDIA shares will convert into DTV shares. LMDIA shareholders will also receive shares in a new company called […]
Analysts and investors are rightly looking ahead to 2010 when deciding how to invest in Dreamworks Animation (DWA). The company has three films coming out next year including two originals and Shrek 4. 2009 is in the books and although Monsters vs. Aliens produced disappointing international box office and will not be a new franchise […]
I attended Central European Media Enterprises (CETV) Investor Day in Prague on October 15th. The stock is presently not widely held by Northlake clients but I continue to monitor it closely as I strongly believe that when advertising growth returns to Central and Eastern Europe, the company’s results will have a V-shaped recovery and the […]
I was on my to O’Hare airport last Monday when Apple reported its 4Q09 results. The conference call occurred while I was in the air on my way to New York for business meetings. It was the first earnings conference call I have missed since my first purchase of Apple stock for clients in early […]
One of my most important reactions to breaking news or rumors is to get my thoughts down on paper. This allows me to organize my ideas, determine questions and get a handle on how the stock market may initially react to the news. I’ve written recently about how mergers and acquisitions have returned to the […]
On Monday, I sold half of Northlake’s positions in CBS in each account that holds the stock. My reasoning is that the stock has risen 80% since purchasing it just 7 weeks ago. This spectacular rise caused CBS positions to approach 4% of equity portfolios. That is a high threshold for me, especially in a […]
Office
20 N 3rd Street
Bayfield, WI 54814
Mail
PO Box 1165
Bayfield, WI 54814
tim@northlakecapital.com
847-226-9713
