Sears Holdings (SHLD) 2Q06 earnings for the quarter ending July 30, 2005 disappointed investors leading to a decline of 5.2% in the shares on Thursday. To get a sense of what the Street was expecting please take a look at my preview note posted yesterday. The main disappointment in the quarter was on the top […]
I received the circular on the buyout of SBS Broadcasting (SBTV) earlier this week and based on my reading I am continuing to hold the shares owned by clients hoping for another bidder to emerge. As a reminder, SBTV has agreed to a buyout offer from private equity investors led by European group Permira and […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2005-09-08 10:56:162026-03-17 17:04:22Anatomy of SBS Broadcasting Buyout — Why I Hope For A Higher Offer
Northlake clients remain long Sears Holding (SHLD) ahead of second quarter earnings due to be reported before the open tomorrow. The company is not expected to host a conference call but will release a 10Q and probably a note from Eddie Lampert along with the earnings. Current client positions in SHLD are on the small […]
There is a lot of anticipation and excitement surrounding this week’s official announcement of the iTunes phone combining the efforts of two companies owned by Northlake clients, Apple Computer (AAPL) and Motorola (MOT). I think the iTunes phone launch is a positive for both companies and might be significant for the mobile phone industry as […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2005-09-06 11:26:022026-03-17 17:04:22Taking Partial Profits in Apple Computer
After getting fresh signals from Northlake’s monthly models, client holdings in the Russell 2000 Small Cap ETF (IWM) were swapped into the S&P 400 Mid Cap ETF (MDY) at the open of trading yesterday. This trade was triggered mainly by the technical factors in the Market Cap Model. No changes were made based on the […]
Yesterday’s SBS Broadcasting buyout deal at 15 times 2005 management guidance for EBITDA has ramifications for valuation on Central European Media Enterprises (CETV). CETV is a faster growing company than SBTV because it is fully dedicated to higher growth emerging ad markets in Central and Eastern Europe. Consequently, I would argue that CETV would sell […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2005-08-23 16:16:132026-03-17 17:04:22SBS Buyout Has Implications for Central European Media Enterprises
SBS Broadcasting confirmed recent market rumors and announced this morning that it was accepting an unsolicited 46 Euro ($56) buyout offer from a European private equity firm. Below please find my comments as I was conducting my analysis beginning with my thoughts prior to the open of trading and finishing up with my conclusions after […]
SBS Broadcasting (SBTV) shares jumped about 8% on Monday after a website reported that the company had held “informal discussions” with an unnamed suitor. The story said that a spokesman for SBS had no comment on rumors or speculation. I think a takeover of SBTV is plausible and while the primary reason behind my bullish […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2005-08-17 13:28:512026-03-17 17:04:22More Takeover Rumors for SBS Broadcasting
Disney (DIS) shares fell 3% on Wednesday in reaction to the company’s 3Q05 earnings report. The quarter was decent but I found the 3Q results disappointing as I was expecting an unequivocally strong report to act as a catalyst for the shares. However, I did not find the results to a major miss and was […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2005-08-13 14:31:592026-03-17 17:04:22Disney Earnings Fail To Provide Desired Catalyst For Shares
Lions Gate Entertainment (LGF) shares traded down about 7% on heavy volume after the company reported 1Q06 earnings last Wednesday. EPS and EBITDA (operating cash flow) missed estimates by a wide margin but revenues were in line and free cash flow was better than expected. On the conference call, management reaffirmed guidance for FY06 assuming […]
Sticking With Sears Holdings Despite Mixed Earnings Report
Sears Holdings (SHLD) 2Q06 earnings for the quarter ending July 30, 2005 disappointed investors leading to a decline of 5.2% in the shares on Thursday. To get a sense of what the Street was expecting please take a look at my preview note posted yesterday. The main disappointment in the quarter was on the top […]
Anatomy of SBS Broadcasting Buyout — Why I Hope For A Higher Offer
I received the circular on the buyout of SBS Broadcasting (SBTV) earlier this week and based on my reading I am continuing to hold the shares owned by clients hoping for another bidder to emerge. As a reminder, SBTV has agreed to a buyout offer from private equity investors led by European group Permira and […]
Sears Holdings Earnings Preview
Northlake clients remain long Sears Holding (SHLD) ahead of second quarter earnings due to be reported before the open tomorrow. The company is not expected to host a conference call but will release a 10Q and probably a note from Eddie Lampert along with the earnings. Current client positions in SHLD are on the small […]
Taking Partial Profits in Apple Computer
There is a lot of anticipation and excitement surrounding this week’s official announcement of the iTunes phone combining the efforts of two companies owned by Northlake clients, Apple Computer (AAPL) and Motorola (MOT). I think the iTunes phone launch is a positive for both companies and might be significant for the mobile phone industry as […]
September Model Signals
After getting fresh signals from Northlake’s monthly models, client holdings in the Russell 2000 Small Cap ETF (IWM) were swapped into the S&P 400 Mid Cap ETF (MDY) at the open of trading yesterday. This trade was triggered mainly by the technical factors in the Market Cap Model. No changes were made based on the […]
SBS Buyout Has Implications for Central European Media Enterprises
Yesterday’s SBS Broadcasting buyout deal at 15 times 2005 management guidance for EBITDA has ramifications for valuation on Central European Media Enterprises (CETV). CETV is a faster growing company than SBTV because it is fully dedicated to higher growth emerging ad markets in Central and Eastern Europe. Consequently, I would argue that CETV would sell […]
SBS Broadcasting Accepts Buyout Offer
SBS Broadcasting confirmed recent market rumors and announced this morning that it was accepting an unsolicited 46 Euro ($56) buyout offer from a European private equity firm. Below please find my comments as I was conducting my analysis beginning with my thoughts prior to the open of trading and finishing up with my conclusions after […]
More Takeover Rumors for SBS Broadcasting
SBS Broadcasting (SBTV) shares jumped about 8% on Monday after a website reported that the company had held “informal discussions” with an unnamed suitor. The story said that a spokesman for SBS had no comment on rumors or speculation. I think a takeover of SBTV is plausible and while the primary reason behind my bullish […]
Disney Earnings Fail To Provide Desired Catalyst For Shares
Disney (DIS) shares fell 3% on Wednesday in reaction to the company’s 3Q05 earnings report. The quarter was decent but I found the 3Q results disappointing as I was expecting an unequivocally strong report to act as a catalyst for the shares. However, I did not find the results to a major miss and was […]
Lions Gate Reports Mixed Quarterly Earnings
Lions Gate Entertainment (LGF) shares traded down about 7% on heavy volume after the company reported 1Q06 earnings last Wednesday. EPS and EBITDA (operating cash flow) missed estimates by a wide margin but revenues were in line and free cash flow was better than expected. On the conference call, management reaffirmed guidance for FY06 assuming […]