Yesterday, NII Holdings (NIHD) announced better than expected 4Q07 subscriber growth, completion of a large buyback, initiation of another buyback, and an impressive new CEO. The shares were up 9.5%. I added NIHD to a new account, the only one I have that didn’t already own a full position, just after the open yesterday and […]
Back in July, I wrote a review of News Corporation for RealMoney.com outlining the bull case. The analysis remains relevant today so in light of the purchase of News Corporation shares for Northlake clients earlier this week, I am reproducing the article so you can learn more about this new holding…. I like News Corporation […]
Partially driven by tax considerations, I sold Northlake’s entire position in Comcast yesterday. I used the proceeds to purchase a full position in News Corporation. I completed this trade across Northlake’s entire base of separately managed client accounts and in my two main personal accounts. The Comcast long proved to be disastrous. My analysis of […]
Morgan Stanley, which was early, aggressive, and correct with a bearish outlook for cable stocks upgraded its industry outlook yesterday to attractive. Comcast was raised from a sell to a buy. Here is a summary from the morning notes on Comcast: “We base our upgrade on three factors. First, concerns over a maturing product set […]
I enjoyed going on TV with my buddy Cody Willard. Unfortunately, since I debated Comcast with Cody and took the bull side, I’ll probably never get invited back! Not much I can say at this point other than admit the bullish stance I took in July when the stock was $27 was wrong. Nevertheless, I […]
The spectrum auction and build out rules in Canada are more favorable than expected for new entrants. As a result, Rogers Communications are trading down by 10% today. I have already seen two downgrades of the shares. Even with more favorable provisions for new entrants into the Canadian wireless market, I suspect that any impact […]
Dow Jones ran a news story on Tuesday noting that Verizon was raising the price of its FiOS TV service purchased outside the bundle by 12% for 2008. This is the second consecutive year that Verizon has raised FiOS TV prices. Wait a second. I thought that FiOS TV was going to set off a […]
With an AT&T acquisition of Echostar apparently imminent, I want to reiterate that while in the short-term investors will see the deal as negative for cable, in the long run the outcome may not be nearly as dire feared. On its most recent conference call, Comcast specifically pointed to AT&T discounting using the satellite bundle […]
With all the chatter about Lululemon Athletica (LULU) following the New York Times expose’ on the seaweed or lack thereof in certain items the company sells, I thought it might be a good time to provide an overview of Northlake’s only long position that is not involved in media and telecom. Endeavor Acquisition Corporation (EDA) […]
Lionsgate reported another confusing quarter. Revenues blew away expectations but so did expenses. EBITDA was a big negative number but the company reported over $21 million in free cash flow. The press release was vague and the simultaneously issued 10-Q did not directly address the absolute figures but instead focused on percentages. All that said […]
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