CBS Corporation (CBS) reported 2Q06 results very close to expectations and reaffirmed guidance for 2006. Nevertheless, the shares are dropping sharply. I think there could be two reasons for the decline. First, the company did not indicate how it was going to use proceeds of recent asset sales. Investors were expecting a big increase the […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-08-03 11:34:262026-03-17 17:01:52CBS: Cheap But No Momentum
Ahead of Monday’s earnings report, shares of Regal Entertainment (RGC) are within 1% of their 2006 high and up almost 9% so far this year. Given the $1.20 annual dividend, the total return is even better. Coming off the dismal 2005 box office performance, RGC shares have responded to renewed growth in attendance and revenue […]
“A looming capacity expansion in hotel rooms and casino space, rising gas prices, an uptick in airfares, the possible peaking of the Las Vegas residential real-estate market, and the ongoing risk of global terrorism make the stocks of major casino operators good candidates for shorting.” — Steve Birenberg, StreetInsight.com, Long/Short Investor, 8/24/2005 OK, so I […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-07-28 09:01:082026-03-17 17:01:52Casino Stocks Have Lots of Downside
Comcast (CMCSA/CMCSK) reported another strong quarter with most key financial and subscriber measures beating estimates. On top of similar strength in 1Q, management is raising guidance. Revenue growth in the cable division (well over 90% of the company) is going up to 10-11% from 9-10%. EBITDA growth is now projected “at least” 13% higher vs. […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-07-27 15:28:012026-03-17 17:01:52Comcast Reports Another Good Quarter: Time For The Bears To Hibernate
E.W. Scripps (SSP) shares should rebound after the company reported better than expected 2Q06 EPS and provided guidance in line with current expectations. Most importantly, guidance for 2H06 advertising growth at Scripps Networks was not as bad as I and others had feared. Upside for SSP is limited, however, due to the premium valuation relative […]
NTL Holdings (NTLI), have been under severe pressure lately due investor fears about the intense competitive environment for broadband in the UK. As the largest cable company in the UK, NTLI has significant market share in broadband. Even though about 70% of its subscribers take the triple play bundle of cable TV, broadband, and telephony, […]
Apparently, Motorola (MOT) believes its stock price is too cheap. The company just announced that it will complete its prior $4 billion, three year repurchase plan 2 years ahead of schedule by immediately buying $1.2 billion in shares. Additionally, a new $4.5 billion, 3 year repurchase has been approved by the Board. According to the […]
After 17 days in theatres, Pirates of the Caribbean: Dead Man’s Chest is the fastest grossing film in history. The movie remains comfortably on track to produce better than expected profits. In fact, benefits to Disney (DIS) relative to current expectations could begin as soon as the September quarter since the film seems likely to […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-07-24 08:45:362026-03-17 17:01:53Weekend Box Office Still Looks Good For Disney and Regal
Apple Computer is trading off over 1% pre-market due to Dell Computer’s ugly preannouncement. While the health of the PC market is clearly in question, I would note this from Dell’s press release: “These estimates primarily reflect aggressive pricing in a slowing commercial market worldwide” For the time being AAPL’s fundamentals are driven by market […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-07-21 10:43:172026-03-17 17:01:53Dell Blows Up – Little Impact on Apple
My friend Jeff Bagley did his usual great job covering the Apple Computer (AAPL) earnings release and conference call. I fully endorse his bullish view but since I’ve written extensively on AAPL, I wanted to offer a few observations of my own. As I have been saying for some time, I think the key to […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2006-07-21 10:41:092026-03-17 17:01:53Some More Thoughts on Apple
CBS: Cheap But No Momentum
CBS Corporation (CBS) reported 2Q06 results very close to expectations and reaffirmed guidance for 2006. Nevertheless, the shares are dropping sharply. I think there could be two reasons for the decline. First, the company did not indicate how it was going to use proceeds of recent asset sales. Investors were expecting a big increase the […]
Regal Entertainment Earnings Preview
Ahead of Monday’s earnings report, shares of Regal Entertainment (RGC) are within 1% of their 2006 high and up almost 9% so far this year. Given the $1.20 annual dividend, the total return is even better. Coming off the dismal 2005 box office performance, RGC shares have responded to renewed growth in attendance and revenue […]
Casino Stocks Have Lots of Downside
“A looming capacity expansion in hotel rooms and casino space, rising gas prices, an uptick in airfares, the possible peaking of the Las Vegas residential real-estate market, and the ongoing risk of global terrorism make the stocks of major casino operators good candidates for shorting.” — Steve Birenberg, StreetInsight.com, Long/Short Investor, 8/24/2005 OK, so I […]
Comcast Reports Another Good Quarter: Time For The Bears To Hibernate
Comcast (CMCSA/CMCSK) reported another strong quarter with most key financial and subscriber measures beating estimates. On top of similar strength in 1Q, management is raising guidance. Revenue growth in the cable division (well over 90% of the company) is going up to 10-11% from 9-10%. EBITDA growth is now projected “at least” 13% higher vs. […]
Scripps Looks Better Than Expected
E.W. Scripps (SSP) shares should rebound after the company reported better than expected 2Q06 EPS and provided guidance in line with current expectations. Most importantly, guidance for 2H06 advertising growth at Scripps Networks was not as bad as I and others had feared. Upside for SSP is limited, however, due to the premium valuation relative […]
NTL Update and Response to Sky’s “Free” Broadband Offer
NTL Holdings (NTLI), have been under severe pressure lately due investor fears about the intense competitive environment for broadband in the UK. As the largest cable company in the UK, NTLI has significant market share in broadband. Even though about 70% of its subscribers take the triple play bundle of cable TV, broadband, and telephony, […]
Confident Motorola Sharply Increases Share Buyback
Apparently, Motorola (MOT) believes its stock price is too cheap. The company just announced that it will complete its prior $4 billion, three year repurchase plan 2 years ahead of schedule by immediately buying $1.2 billion in shares. Additionally, a new $4.5 billion, 3 year repurchase has been approved by the Board. According to the […]
Weekend Box Office Still Looks Good For Disney and Regal
After 17 days in theatres, Pirates of the Caribbean: Dead Man’s Chest is the fastest grossing film in history. The movie remains comfortably on track to produce better than expected profits. In fact, benefits to Disney (DIS) relative to current expectations could begin as soon as the September quarter since the film seems likely to […]
Dell Blows Up – Little Impact on Apple
Apple Computer is trading off over 1% pre-market due to Dell Computer’s ugly preannouncement. While the health of the PC market is clearly in question, I would note this from Dell’s press release: “These estimates primarily reflect aggressive pricing in a slowing commercial market worldwide” For the time being AAPL’s fundamentals are driven by market […]
Some More Thoughts on Apple
My friend Jeff Bagley did his usual great job covering the Apple Computer (AAPL) earnings release and conference call. I fully endorse his bullish view but since I’ve written extensively on AAPL, I wanted to offer a few observations of my own. As I have been saying for some time, I think the key to […]