The Weekend box office continued its year long win streak but for the second consecutive weekend there was a disappointment from a highly anticipated film. Led by Watchmen, the box office rose 12.7% according to BoxOfficeMojo.com. Every weekend since late December is positive and year-to-date total receipts for the North American box office are up […]
NII Holdings (NIHD) reported 4Q08 results and provided 2009 guidance at the end of February. I thought the 4Q figures were quite good considering the economic environment but the stock sold off sharply due to guidance that was below estimates. However, the guidance miss was due to foreign currency, in particular, the weakness of the […]
Central European Media Enterprises (CETV) reported mixed 4Q08 results excluding impairment charges and currency impacts. Commentary on 2009 was much bleaker than the company had previously admitted but was more or less in line with recent analyst comments and estimates. In fact, Goldman this morning made virtually no changes to its model. The story on […]
I finally got something right. Discovery Communications (DISCA) reported another positive surprise (EBITDA +23%, margins +700 basis points) and provided upbeat 2009 guidance. The stock responded by jumping 15%, leaving it within 10% of its mid-September, pre-crash level. 4Q08 benefited from continued strength in domestic and international advertising, ongoing growth in domestic and international distribution […]
Despite my hopes that Dreamworks Animation (DWA) had a good set up going into last night’s earnings reports, the stock is going to trade down sharply this morning. Adjusted for a one-time tax benefit, EPS missed estimates due to higher costs associated with new ventures to diversify revenue (TV, virtual worlds, Broadway) and an adjustment […]
Several of Northlake’s long positions report this week beginning tonight with Dreamworks Animation (DWA). DWA has been very weak as the collapse in DVD sales has crushed estimates and compacted long-term valuation. However, the stock may be a good setup for a rebound. Getting past the earnings report could allow investors to look forward where […]
Back in late November when Time Warner was trading just over $9, I wrote a column for Real Money explaining Why You Should Own the shares. Today the stock stands at $7.56, down about 16%, a bit worse than the S&P 500 which is down almost 13%. During this time, Disney (DIS) and News Corporation […]
Dreamworks is in the news. First, Dreamworks SKG, the privately held, live action movie studio that is home to Steven Spielberg, is changing plans and will use Disney (DIS) as a distribution partner as opposed to Universal Pictures (owned by GE). Second, Dreamworks Animation (DWA), the publicly held animation company, was the subject of a […]
Given the circumstances, Time Warner (TWX) reported decent 4Q08 results and provided better than expected guidance. However, to be perfectly honest, there are so many charges and related future cost savings that it is very difficult to tell whether guidance for “about flat” results in 2009 fairly reflects underlying operating trends. I fear that guidance […]
Time Warner effectively preannounced 4Q08 results when it updated its guidance for 2008 last month. The guidance brought 2008 EBITDA to a gain of just 1% but several items were legitimately one-time so the headlines off the guidance update were more negative than management intended. Underlying growth in 2008 is probably closer to 3% which […]
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