Looks like I got a bit lucky with the timing of last week’s sale of Northlake’s remaining position in Rogers Communication (RCI). On Friday, it was reported that Telus and Bell Canada will be building a competitive HSPDA network that could undercut Rogers monopoly on high end customers and roaming. The stock got clipped on […]
It me a full month to complete the sale of Rogers Communications across all Northlake client accounts. Here is a link to my post following the initial sales. The post explains the rationale for exiting the position. Besides the research, clients should take away a couple of things form the sale of Rogers. First, when […]
Central European Media Enterprises (CETV) shares sold off heavily last Tuesday, dropping over 10% mid-day and closing down about 7% to set a new 52 week low. A number of factors are at work: worries about Russia’s intentions towards Ukraine, dollar strength, emerging market GDP worries, lousy emerging market stock markets, fears about an expensive […]
One of Northlake’s biggest portfolio headaches is a lot better today. Pain relief came in the form of very solid quarter from American Apparel (APP). 2Q results were inline to a bit better than the few analyst estimates. Revenues of $133 million exceeded the estimate of $126 million. EPS of 10 cents matched estimates despite […]
Following completion of Time Warner’s 2Q08 conference call I purchased the stock widely across the Northlake client base and in my personal accounts. The purchase is based on my new, more bullish view of the company’s prospects over the next 12 months. TWX finally seems to be emerging from a prolonged period of restructuring and […]
I sold all client and personal positions in Dreamworks Animation (DWA) on Tuesday after it had rebounded from overzealous selling following its own 2Q08 report. The sale of DWA was a result of my trading thesis falling apart when the company indicated that higher than expected international marketing costs would take away the earnings upside […]
Central European Media Enterprises (CETV) remains my favorite media stock for all time horizons. Despite my enthusiasm the shares have performed poorly this year. Although, within the media stock universe, the 20% drop since June is not unusual. Neither is the 36% decline from the 52 week high. However, there is one big difference. CETV […]
I am working a longer comment on CETV, probably to be posted on Monday, but given the crazy trading following yesterday’s earnings report and conference call I wanted to offer some brief insights. The quarter was good, better than consensus and matching the very highest estimates which included my own. Romania and Croatia were across […]
My thesis on Dreamworks Animation fell apart when the company reported 2Q results after the close on Tuesday. While I understand the 10% decline in the stock, I think it is overdone and actually leaves value in the shares ahead of catalysts that are coming but not until October and November. The problem is there […]
I began to sell Northlake’s position in Rogers Communications last week ahead of its earnings report. I thought the report would be OK but given growing signs of slowing growth in wireless worldwide, I thought there might be some downside to RCI’s numbers. I also thought that it would take a really good report to […]
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