Here is the series of posts I made on RealMoney.com yesterday after crunching Apple’s numbers but before the conference call Q&A started: 4:49 PM EST: Good and and I like the guidance being in line with consensus. Tax rate was low adding 4 cents to EPS. That probably is why the stock has pulled back. […]
It is has been a long fall from grace for Gannett. Still regarded as one of the best managed media companies and clearly regarded as the best managed newspaper company, GCI’s 1Q08 earnings report came and went with barely a notice. I suppose that is not all bad since the numbers were no good and […]
Apple reports 2Q08 earnings after the close on Wednesday, April 23rd. I’ll be covering the conference call for RealMoney.com. Here is the preview I wrote for them which was published today: Before Tuesday’s shellacking I was planning to say that the sharp upward move in Apple shares had raised the bar unrealistically high heading into […]
Disney announced a new production studio, Disneynature. The studio will produce major motion picture documentaries “about the world in which we live.” The first film, titled “Earth,” will be released on Earth Day 2009. The film is being produced by the BBC and members of same team that created the Planet Earth series. The press […]
Central European Media Enterprises (CETV), recommended by Jim Cramer last Friday on Mad Money announced that it is acquiring two radio stations in Romania. Until this point, CETV has been 100% focused on TV other than developing an internet presence in each of its TV markets (Czech Republic, Slovakia, Slovenia, Ukraine, Romania, and Croatia). The […]
New York Times reported terrible 1Q08 results. Adjusted EPS of 4 cents missed the consensus of 14 cents. Revenues of $748 million were a little short of the $752 consensus. 1Q07 EPS were 17 cents so this quarter represents a total collapse in profitability. Making matters worse, March advertising revenues decelerated further even after for […]
Cable stocks have acted pretty well this year. Comcast is up a bit and Time Warner Cable is down slightly. Both have easily outperformed the S&P 500. The other large cap cable stock, Cablevision, is down about equal to the market but at year end it was still in the process of being taken private, […]
News Corporation shares traded down 4.6% on Monday in response to a downgrade from Bernstein Research analyst Michael Nathanson. Nathanson lowered his rating from outperform to market perform, cut his price target from $24 to $21, and lowered his earnings estimate by 7% for FY08 and 4% for FY09. Prior to this downgrade, Nathanson shared […]
The Wall Street Journal wrote a damning and extremely damaging article about one of Northlake’s long positions. The story on American Apparel (APP) appeared on the front page of the Saturday edition. As someone who had done his homework and read the filings, most of negative news in the article was nothing new to me. […]
I remain long Disney across Northlake client accounts including my own accounts. Down just 3%, the shares have acted fairly well this year compared to many other media investments, particularly those with significant advertising exposure. Performance of the shares in the near future is a battle between the possibility that the economy drags down earnings […]
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