I have spent this week completing my follow-up work on Rogers Communications (RG), my second favorite presentation from last week’s UBS Media and Communications conference (more on my favorite presentation, NII Holdings (NIHD) coming soon). I liked what I learned and pulled the trigger on an initial purchase of RG for Northlake client accounts, including […]
Lots of Apple Computer (AAPL) news today. UBS is out with a note claiming that Apple will enter the wireless via a mobile virtual network operator (MVNO). UBS Telecom analyst John Hodulik was discussing this in the hallways of their conference last week but went public with his thoughts today. Given a loyal Mac user […]
Bears Stearns Cable Analyst Spencer Wang recently held a conference call with a couple of experts on the opportunity that the cable industry has to offer commercial services. Today, cable is primarily a residential business with commercial customers representing less than 5% of revenue. According to Bear Stearns, the revenue opportunity for cable in commercial […]
Just before Thanksgiving, Disney (DIS) and Citadel Broadcasting (CDL) announced a restructuring of CDL’s deal to buy DIS’ radio assets. The total value of the deal has been reduced by $100 million and an additional $200 million of cash due to DIS will now come in the form of CDL shares. Essentially, DIS is trading […]
I decided to step to the sidelines on Sears Holdings (SHLD). I sold all shares held by clients and personally last Thursday and Friday. I don’t really see anything in the SHLD that has changed much as a result of last week’s earnings report. However, I do think the falling gross margin and EBITDA at […]
Below are two comments I wrote for StreetInsight.com in the hours following Sears Holdings (SHLD) earnings report. Overall, the quarter was OK but left some room for those bearish on the story due to the weak positioning of both Sears and KMart. THe pullback is understandable and reasonable in this context. Initial Comment, 8:08AM Central […]
Sears Holdings (SHLD) reports before the open tomorrow. In fact, it will probably have reported by the time you read this. The company doesn’t host a conference call. All we get is the financials and a press release with some commentary. The limited information flow, the stocks high price and high volatility, and the ongoing […]
Shares of NTL Incorporated got a well deserved 5% spanking yesterday after last week’s rumors of the company’s interest in a takeover of leading UK broadcaster ITV apparently turned into reality. UK newspapers are reporting that NTL will offer about $9 billion for ITV or roughly 13 times 2007 EBITDA estimates. NTLI shares are now […]
4Q06 earnings from Disney (DIS) left open the debate over whether the company ‘s four year string of double digit operating income growth is about to come to and end. With DIS shares are a premium to other diversified media conglomerates, a premium earned by the company’s outstanding performance the last few years, the FY07 […]
Disney (DIS) reported strong 4Q06 earnings. EPS of 36 cents compared to a rising 33 cent consensus and revenues of $8.8 billion were ahead of the consensus estimate of $8.7 billion. Segment level results were as good as or better than expected across the board with particular strength in Studio Entertainment and Theme Parks. Despite […]
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