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 […]
CBS reported 8 cents on revenue of $3.01 billion against consensus of 7 cents and $3.05 billion. EBITDA of $387 million was at the top of end expectations and includes about $20 million of what could be considered one-time charges. Most importantly to the outlook for the stock, the company maintained 2009 EBITDA guidance. Many […]
Discovery Communications reported another positive surprise, making it three straight quarters. Revenue matched expectations but superb performance on costs allowed EBITDA to come at $381 million vs. analyst estimates ranging from $341 million to $356 million. EPS were in line after adjusting for one-time but would have been higher if not for a high tax […]
Disney’s (DIS) third-quarter 2009 report looked a lot like its second-quarter 2009 report. Trends remain weak but are not getting any worse. EPS beat by a penny while revenue fell slightly short of expectations. The revenue miss led to CNBC headlines and a post-report sell-off in the shares, but the miss appears to emanate from […]
Time Warner reported a good 3Q09, beating expectations on most key metrics. EPS of 45 cents exceeded the consensus estimate of 37 cents. Revenues of $6.81 billion fell slightly short of consensus for $6.97. EBITDA was down just 2%, far ahead of expectations for a drop of 11-14%. The upside came in Networks and Filmed […]
Viacom reported mixed 2Q09 results with adjusted EPS of 49 cents matching expectations on $3.3 billion in revenues, which were $200 million light of expectations. The revenue shortfall came from the Paramount movie studio and Rock Band which are less important aspects of the Viacom story. The company’s cable TV networks performed well in the […]
Apple reported another great quarter with Mac and iPhone unit sales exceeding expectations and gross margins coming in well ahead of the most bullish estimate. The stock has come a long way and may stall after this morning’s pop but I think over the balance of this year the stock can move to $180 to […]
My friend and RealMoney.com colleague, Jordan Kahn, wrote the following preview of Apple’s June quarter earnings which are due to be reported after the close tonight. Please check out Jordan’s blog “In The Money” for more of his always excellent commentary. I’d preface Jordan’s comments by noting that the estimates and stock price targets for […]
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