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 […]
Disney reported 4Q07 EPS of 42 cents adjusted for a tax benefit compared to consensus of 41 cents. Revenues of $8.93 billion matched the $8.98 million consensus. Comparing the segment numbers to my spreadsheet shows a remarkable closeness. This is actually one the things I like about Disney: the company is very tightly managed and […]
In the midst of the carnage yesterday, Northlake had one winner: Endeavor Acquisition Corporation (EDA). EDA is in the final stages of completing its acquisition of privately held American Apparel, a very hot teen retailer. The shares rose over 5% on heavy volume in response to a very positive press release. EDA announced that that […]
Disney is expected to report strong 4Q07 financial performance capping another great year. For 4Q, consensus calls for EPS of 42 cents, up 17%, on revenues of $9 billion, up 2%. Operating income, a key metric for Disney investors, is expected to rise 14%. Estimates are unchanged since the last quarterly report although the tone […]
Time Warner reported a solid quarter, ahead of analyst estimates. However, 2007 guidance was maintained suggesting that the 4Q will be weaker than expected. At the same time, segment results showed bad news at AOL and Cable which are the two key drivers of TWX shares. The cable news really wasn’t bad relative to collapsing […]
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