There are no changes to the recommendations from Northlake’s Market Cap and Style models for October. The models continue to favor large cap and remain neutral on growth vs. value. For clients with assets invested in Northlake’s models, positions in the S&P 500 (SPY), Russell 1000 Growth (IWF), and Russell 1000 Value (IWD) will be […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2021-10-01 14:28:302021-10-01 14:28:30No Changes to Models or Strategies
Northlake’s Market Cap model has been trending toward large cap for several months and the latest update confirmed a new recommendation in favor of the S&P 500. As a result, clients using Northlake’s models will swap current holdings in the S&P 400 Mid Cap (MDY) into the S&P 500 (SPY). We remain neutral on the […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2021-09-01 17:41:262021-09-01 17:41:26Moving Back to Large Cap
Surprisingly to Northlake, intermediate and long-term interest rates have fallen slightly over the last several months. We had been anticipating higher rates as the economy emerged from COVID impacts, inflation held at well-above pre-pandemic levels, the timing of the Federal Reserve’s monetary policy tightening grew closer. Instead, for reasons that most on Wall Street still […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2021-08-25 14:58:262021-08-25 14:58:26Lower Rates Lead to Mixed Impact on High-Dividend Stocks
Home Depot (HD) reported solid 2Q21 results with same store sales growing in-line with expectations and earnings ahead of consensus estimates. HD chose not to provide guidance given uncertainty related to the ongoing pandemic. Management had a positive tone on the outlook for 2H21 and the long-term housing environment. HD noted that August has started […]
Disney (DIS) reported FY 3Q21 results that were better than expected for both financial metrics and subscriber additions. Long-term guidance was not updated since DIS is in the process of creating the operating plan for FY22. Given ongoing strength in DTC services – Disney+, ESPN+, and the recently profitable Hulu – and the ramping recovery […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Tim Fodorhttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifTim Fodor2021-08-17 17:10:032021-08-17 17:10:03Disney Letting the Genie Out of the Bottle
Sony (SONY) reported better than expected 1Q22 earnings and raised full-year guidance. We had thought that guidance was conservative, both short-term and long-term, so the news was not surprising. It is welcome news in support of the long-term investment thesis that SONY’s individual business are deeply undervalued compared to peers with a management team that […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2021-08-09 17:20:302021-08-09 17:20:30Sony Performing Well and Will Be Worth the Wait
Nexstar Media Group (NXST) reported another in a string of excellent quarterly earnings reports. Revenue and EBITDA exceeded management guidance and the company raised the all-important annual free cash flow guidance. NXST has always benefitted from having one of the best management teams across all the industries we follow in terms of operating execution and […]
Activision Blizzard (ATVI) reported a much-needed beat-and-raise quarter. Strength was broad-based with Call of Duty, Candy Crush, and World of Warcraft all exceeding expectations. Management raised 2021 guidance to reflect the results, with a portion of the upside held back due to the shift of Diablo Immortal from 2021 to 2022. Given current strength across […]
Northlake’s Style model shifted from Value to Neutral. For clients with allocations to the model, we are selling one half of the holding in the Russell 1000 Value (IWD) and reinvesting the proceeds into the Russell 1000 Growth (IWF). There is no change to the recommendation of Mid Cap from the Market Cap model. Client […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2021-08-02 16:08:042021-08-02 16:08:04Shifting to Neutral on Growth vs. Value
With another set of quarterly earnings being reported, clients probably notice a lot of large stock moves in reaction to the news. Often the stock moves seem unrelated to the earnings news. Why did Apple and Facebook trade down after easily beating Wall Street estimates? Why did Alphabet trade up and Comcast trade up when […]
No Changes to Models or Strategies
There are no changes to the recommendations from Northlake’s Market Cap and Style models for October. The models continue to favor large cap and remain neutral on growth vs. value. For clients with assets invested in Northlake’s models, positions in the S&P 500 (SPY), Russell 1000 Growth (IWF), and Russell 1000 Value (IWD) will be […]
Moving Back to Large Cap
Northlake’s Market Cap model has been trending toward large cap for several months and the latest update confirmed a new recommendation in favor of the S&P 500. As a result, clients using Northlake’s models will swap current holdings in the S&P 400 Mid Cap (MDY) into the S&P 500 (SPY). We remain neutral on the […]
Lower Rates Lead to Mixed Impact on High-Dividend Stocks
Surprisingly to Northlake, intermediate and long-term interest rates have fallen slightly over the last several months. We had been anticipating higher rates as the economy emerged from COVID impacts, inflation held at well-above pre-pandemic levels, the timing of the Federal Reserve’s monetary policy tightening grew closer. Instead, for reasons that most on Wall Street still […]
Home Depot Keeps Building on Recent Strength
Home Depot (HD) reported solid 2Q21 results with same store sales growing in-line with expectations and earnings ahead of consensus estimates. HD chose not to provide guidance given uncertainty related to the ongoing pandemic. Management had a positive tone on the outlook for 2H21 and the long-term housing environment. HD noted that August has started […]
Disney Letting the Genie Out of the Bottle
Disney (DIS) reported FY 3Q21 results that were better than expected for both financial metrics and subscriber additions. Long-term guidance was not updated since DIS is in the process of creating the operating plan for FY22. Given ongoing strength in DTC services – Disney+, ESPN+, and the recently profitable Hulu – and the ramping recovery […]
Sony Performing Well and Will Be Worth the Wait
Sony (SONY) reported better than expected 1Q22 earnings and raised full-year guidance. We had thought that guidance was conservative, both short-term and long-term, so the news was not surprising. It is welcome news in support of the long-term investment thesis that SONY’s individual business are deeply undervalued compared to peers with a management team that […]
Nexstar Continues to Shine Brightly
Nexstar Media Group (NXST) reported another in a string of excellent quarterly earnings reports. Revenue and EBITDA exceeded management guidance and the company raised the all-important annual free cash flow guidance. NXST has always benefitted from having one of the best management teams across all the industries we follow in terms of operating execution and […]
ATVI Managing Turmoil Amid Strong Fundamentals
Activision Blizzard (ATVI) reported a much-needed beat-and-raise quarter. Strength was broad-based with Call of Duty, Candy Crush, and World of Warcraft all exceeding expectations. Management raised 2021 guidance to reflect the results, with a portion of the upside held back due to the shift of Diablo Immortal from 2021 to 2022. Given current strength across […]
Shifting to Neutral on Growth vs. Value
Northlake’s Style model shifted from Value to Neutral. For clients with allocations to the model, we are selling one half of the holding in the Russell 1000 Value (IWD) and reinvesting the proceeds into the Russell 1000 Growth (IWF). There is no change to the recommendation of Mid Cap from the Market Cap model. Client […]
Explaining Earnings Reactions
With another set of quarterly earnings being reported, clients probably notice a lot of large stock moves in reaction to the news. Often the stock moves seem unrelated to the earnings news. Why did Apple and Facebook trade down after easily beating Wall Street estimates? Why did Alphabet trade up and Comcast trade up when […]