There are no changes to the recommendations from Northlake’s Market Cap and Style modes for May. We are sticking with Mid Cap and Value for another month. Current client positions following the models in the S&P 400 Mid Cap (MDY) and Russell 1000 Value (IWD) will be held for at least another month. Clients also […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2021-05-03 16:15:382026-03-17 16:49:27Sticking with Mid Cap and Value into the Recovery
Comcast reported another good quarter with growth in the dominant cable business sustaining in the high single digits with margins continuing to expand. Encouragingly, the much smaller but still material media businesses at NBC Universal and Sky are showing clear signs of emerging from the severe impacts of the pandemic. It seems like most every […]
Facebook (FB) reported another blowout quarter with growth accelerating. Strength was across the board in all geographies. Earnings estimates for 2021 thru 2023 are moving up substantially. If this sounds like what we wrote for Alphabet and Apple that is a fact. You can add Amazon to the mix with a similar report. It is […]
While reviewing Apple’s (AAPL) 2Q21 earnings report, I mentioned to Tim that I could almost just repost the blog reviewing 1Q21 earnings. Just change the date and tweak it here and there. Tim astutely pointed out that consistency is a sign of a great company; it is also especially valuable in an era when tweets […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2021-04-29 22:38:452026-03-17 16:49:39Apple Branches in Full Bloom
When Sony reported 3Q20 results three months ago, the company sharply raised guidance for the fiscal year that ended in March. 4Q20 results met or slightly exceeded the new higher guidance. In conjunction with the latest report, Sony established a new three-year financial and strategic plan including guidance for the current quarter and fiscal year. […]
Alphabet (GOOG/GOOGL) reported another outstanding quarter with growth in revenues, operating income, and EPS easily beating elevated Wall Street estimates. This is the third straight quarter where GOOG has beaten Wall Street estimates. Importantly, overall revenue growth accelerated to 32% on a constant-currency basis from the impressive 23% growth rate in 4Q20. The string of […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2021-04-28 18:01:432026-03-17 16:49:39Easy as ABC at Alphabet
IBM reported a positive surprise in revenue and earnings per share for its 1Q21, an unusual occurrence over the last several years. Revenue of $17.7 billion was about $300 million ahead of consensus and guidance, the first beat on this metric since 2018. Gross margins, another trouble spot of late, also came in ahead of […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2021-04-20 20:34:552026-03-17 16:49:39Confidence Building Quarter at IBM But Key Catalysts Still to Come in 2021
We are moving from neutral on growth vs. value to all-in on value effective today. We are sticking with mid cap. As a result, for clients using Northlake’s thematic models, we have sold all client positions in the Russell 1000 Growth (IWF) and reinvested the proceeds into the Russell 1000 Value (IWD). There will be […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2021-04-01 16:46:252026-03-17 16:49:39Going All In on Value
Northlake is swapping out of purely small cap exposure, moving half to mid cap and half to large cap. The large cap is coming from Style exposure as we stay neutral on growth vs. value but move from small cap to large cap ETFs. In Market Cap, the swap is from small cap to mid […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2021-03-01 18:31:092026-03-17 16:49:39Taking the Small Cap Win
Interest rates on bonds maturing more than a year in the future have risen since our last update on income equities. At the end of November, the 10-year US Treasury bond yield was a little less than 1.00%. Today, the yield is about 1.45%. Short-term interest rates that are fully controlled by the Federal Reserve […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2021-03-01 16:14:492026-03-17 16:49:39Income Equity and Bond Quarterly Review
Sticking with Mid Cap and Value into the Recovery
There are no changes to the recommendations from Northlake’s Market Cap and Style modes for May. We are sticking with Mid Cap and Value for another month. Current client positions following the models in the S&P 400 Mid Cap (MDY) and Russell 1000 Value (IWD) will be held for at least another month. Clients also […]
Improved Sentiment Emerging for Comcast
Comcast reported another good quarter with growth in the dominant cable business sustaining in the high single digits with margins continuing to expand. Encouragingly, the much smaller but still material media businesses at NBC Universal and Sky are showing clear signs of emerging from the severe impacts of the pandemic. It seems like most every […]
Facebook Growth Outlook Remains Strong
Facebook (FB) reported another blowout quarter with growth accelerating. Strength was across the board in all geographies. Earnings estimates for 2021 thru 2023 are moving up substantially. If this sounds like what we wrote for Alphabet and Apple that is a fact. You can add Amazon to the mix with a similar report. It is […]
Apple Branches in Full Bloom
While reviewing Apple’s (AAPL) 2Q21 earnings report, I mentioned to Tim that I could almost just repost the blog reviewing 1Q21 earnings. Just change the date and tweak it here and there. Tim astutely pointed out that consistency is a sign of a great company; it is also especially valuable in an era when tweets […]
Sony Investing for Growth
When Sony reported 3Q20 results three months ago, the company sharply raised guidance for the fiscal year that ended in March. 4Q20 results met or slightly exceeded the new higher guidance. In conjunction with the latest report, Sony established a new three-year financial and strategic plan including guidance for the current quarter and fiscal year. […]
Easy as ABC at Alphabet
Alphabet (GOOG/GOOGL) reported another outstanding quarter with growth in revenues, operating income, and EPS easily beating elevated Wall Street estimates. This is the third straight quarter where GOOG has beaten Wall Street estimates. Importantly, overall revenue growth accelerated to 32% on a constant-currency basis from the impressive 23% growth rate in 4Q20. The string of […]
Confidence Building Quarter at IBM But Key Catalysts Still to Come in 2021
IBM reported a positive surprise in revenue and earnings per share for its 1Q21, an unusual occurrence over the last several years. Revenue of $17.7 billion was about $300 million ahead of consensus and guidance, the first beat on this metric since 2018. Gross margins, another trouble spot of late, also came in ahead of […]
Going All In on Value
We are moving from neutral on growth vs. value to all-in on value effective today. We are sticking with mid cap. As a result, for clients using Northlake’s thematic models, we have sold all client positions in the Russell 1000 Growth (IWF) and reinvested the proceeds into the Russell 1000 Value (IWD). There will be […]
Taking the Small Cap Win
Northlake is swapping out of purely small cap exposure, moving half to mid cap and half to large cap. The large cap is coming from Style exposure as we stay neutral on growth vs. value but move from small cap to large cap ETFs. In Market Cap, the swap is from small cap to mid […]
Income Equity and Bond Quarterly Review
Interest rates on bonds maturing more than a year in the future have risen since our last update on income equities. At the end of November, the 10-year US Treasury bond yield was a little less than 1.00%. Today, the yield is about 1.45%. Short-term interest rates that are fully controlled by the Federal Reserve […]