Apparently, Ronald Lauder has decided to pay for his $135 million acquisition of Gustav Klimt’s Adele Bloch-Bauer I by monetizing half of his 15.8% stake in Central European Media Enterprises (CETV). Last June, it was revealed that Lauder was buying the Klimt and paying the highest price ever for a painting, easily exceeding the $104 […]
Last week saw a flurry of acquisition and divestiture activity in the radio industry including news that the buyer of Disney’s radio assets, Citadel Broadcasting, wants to renegotiate to lower the purchase price. News that Citadel wants to renegotiate the terms of its buyout of ABC’s radio assets is not surprising and likely led to […]
Looking back at my recent posts on Sears Holdings (SHLD), I may have left the impression that improving same store sales trends are necessary to drive the stock higher. Just to be clear, Northlake’s long position in (SHLD) has never been about sales. It has been about free cash flow generation over the 2006 and […]
I am surprised that cable stocks have held up since last Thursday’s Wall Street Journal article which indicated a recent report from Cable Labs, the industry’s internal R&D arm, said that to keep up with exploding broadband demand and Verizon’s fiber rebuild, the cable industry would have to complete another costly upgrade of its plant. […]
I am no expert in retailing despite Northlake’s long position in Sears Holding (SHLD) so when my colleague at StreetInsight.com, Jeff Bagley, wrote a scathing post noting that most of the earnings upside at SHLD over the past few quarters had come from large cuts in advertising expenditures, I was very interested in learning more. […]
Sears Holdings (SHLD) earnings reports was largely in line. However, the stock traded sharply lower, giving up most of its gains so far in August. The decline can be attributed primarily to two things. First, SHLD is owned by a lot of aggressive investors and they wanted another big positive surprise like the company delivered […]
News broke yesterday in London that NTL Incorporated (NTLI) was again subject to takeover interest from private equity firms. Later in the day, Bloomberg reported that the company was in talks with a consortium of four private equity firms and the talks were beginning to focus on price. I covered these developments in two posts […]
While fireworks are likely in the shares of Sears Holdings (SHLD) after the company reports earnings before the open today, there has been a virtual blackout as far as research is concerned ahead of the report. There are only five EPS estimates creating the First Call consensus of $1.69. The estimates range from $1.46 to […]
The Wall Street Journal is a few days late in reporting that Carl Icahn has upped his stake in Time Warner. When this news first broke on Monday, I wrote the following brief comment for StreetInsight.com: The facts that Time Warner (TWX) is giving back most of its post-earnings pop and the lack of positive […]
Disney (DIS) reported much better than expected 3Q06 EPS. EPS of 53 cents easily beat consensus of 44 cents (3Q EPS were aided by 1-2 cent accounting benefit). Revenues were only slightly better than expected so it was operating profit performance that provided the upside. In particular, the Studio, Theme Parks, and Consumer Products provided […]
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