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There are no changes to the recommendations from Northlake’s Market Cap and Style models for November. For our Market Cap theme, we continue to favor mid cap. In our Style…
Facebook continues to perform well despite the economic impact of the pandemic and negative publicity surrounding privacy and political issues. Ad revenue grew 22% during 3Q20, powering a better than…
Apple reported strong 4Q20 earnings with headline numbers for revenue and EPS ahead of Wall Street estimates. The stock responded by trading down -6%, however, due to the composition of…
Alphabet returned to nearly pre-pandemic growth in 3Q20 led by Cloud and YouTube. Advertising revenues grew 15% adjusted for foreign currency, just below the high-teens level of late 2019. Revenues,…
Comcast remains a tale of three cities: cable, NBC Universal (NBCU), and Sky. Fortunately for investors, the dominant business – cable – is a clear COVID winner with attractive secular…
IBM reported 3Q20 earnings last week that were largely in line with expectations and consistent with trends over the past few quarters. The report came on the heels of a…
The October model update results in moving to neutral on the growth vs value theme in the Style model. As a result, we have completed the sale of one half…
After reviewing our models, there are changes to both the Market Cap and Style exposure. The changes are driven by a shift in Market Cap exposure from small cap to…
Activision Blizzard (ATVI) reported better than expected 2Q20 earnings, beating on both the top and bottom line. EPS of 97 cents crushed the consensus of 69 cents. Despite the 28…
ViacomCBS (VIAC) reported better than expected results in 2Q20. Revenues were down -12% but good cost controls and some expense timing benefits led to adjusted EBITDA +8%. Free cash flow…
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