Northlake’s Market Cap model shifted from large cap to a weak mid cap signal for May. We are using discretion and waiting to make the change in client portfolios given the ongoing market volatility and uncertainty about progress of reopening the economy while containing the pandemic. Moving to mid cap adds a higher risk, higher […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2020-05-01 18:12:112020-05-01 18:12:11Taking Time To Consider Shift to Mid Cap
Comcast’s 1Q20 earnings report and conference call exposed sharp differences of how the COVID crisis is impacting the company’s three business segments. Already positive trends in the core cable business are getting a boost. NBC Universal and Sky, however, are in the direct path of the virus with little visibility for the pace or timing […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2020-04-30 19:19:332020-04-30 19:19:33A Tale of Three Segments at Comcast
Facebook (FB) reported 1Q20 sales slightly better than recently reduced expectations, and earnings in line with lowered estimates. Sales and earnings estimates fell roughly 6% and 11% respectively throughout March as analysts grappled with quantifying the challenges FB faced from the COVID crisis. Advertisers pulled back sharply in the final three weeks of March, but […]
Northlake’s investment thesis on IBM centers upon the gradual transition to faster revenue growth as cloud services become a greater part of IBM’s revenue mix. Prior to the COVID crisis, we got an unexpected boost from a CEO transition that elevated the head of company’s cloud efforts. The economic shutdown clearly will impact IBM as […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2020-04-29 20:27:132020-04-29 20:27:13IBM Cloud is Clearing The Way to Higher Stock Price
Alphabet (GOOG/GOOGL) reported 1Q20 earnings that indicated better than expected results in January and February before the economic shutdown, offset by a sharp but not quite as bad as expected slowdown in March. The company commented that advertising trends at Search and YouTube have stabilized in April with signs of green shoots. Emerging businesses like […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2020-04-29 20:26:282020-04-29 20:26:28Long Term Intact at Alphabet With Delayed Gratification
Northlake’s Market Cap model shifted from mid cap to large cap, primarily reflecting the history of large caps holding up better during bear markets. The Style model is sticking with growth which makes sense given growth companies are less sensitive to the cyclical impact of recessions. We swapped remaining client positions in mid cap to […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2020-04-01 14:54:272020-04-01 14:54:27Large Cap And Growth To Ride Out Storm With Less Risk
There are no changes to the recommendations from Northlake’s models for March. The Market Cap model remains on a mid cap signal and the Style model is still recommending growth. There will be no changes to client positions following the models and currently invested in the S&P 400 Mid Cap (MDY), the Russell 1000 Growth […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2020-03-02 15:30:012020-03-02 15:30:01Mid Cap and Growth Themes Holding For Now
Nexstar Media Group reported excellent 4Q19 results and raised its guidance for 2020/2021 average annual free cash flow by 15%. In a normal market this news would have been greeted by a sharp rise in the stock price, arguably up 5-10% or more. Alas, Nexstar reported right into the teeth of the market sell-off on […]
Activision Blizzard (ATVI) slightly beat expectations for 4Q19 results, with typically conservative guidance for 2020 falling a bit below consensus estimates. Interestingly, Jefferies analyst Alex Giaimo noted that ATVI has beaten initial EPS guidance by 15% on average over the last 4 years. Alongside the results, ATVI also increased the dividend paid to shareholders by […]
ViacomCBS (VIAC) reported more disappointing news with its 4Q19 earnings report and 2020 guidance. The stock is now down about -40% since last summer when the company first lowered its outlook. Investors had thought that management had given a conservative outlook back then but this appears to have not been the case. Management credibility is […]
Taking Time To Consider Shift to Mid Cap
Northlake’s Market Cap model shifted from large cap to a weak mid cap signal for May. We are using discretion and waiting to make the change in client portfolios given the ongoing market volatility and uncertainty about progress of reopening the economy while containing the pandemic. Moving to mid cap adds a higher risk, higher […]
A Tale of Three Segments at Comcast
Comcast’s 1Q20 earnings report and conference call exposed sharp differences of how the COVID crisis is impacting the company’s three business segments. Already positive trends in the core cable business are getting a boost. NBC Universal and Sky, however, are in the direct path of the virus with little visibility for the pace or timing […]
Facebook Remains a Long-Term Winner
Facebook (FB) reported 1Q20 sales slightly better than recently reduced expectations, and earnings in line with lowered estimates. Sales and earnings estimates fell roughly 6% and 11% respectively throughout March as analysts grappled with quantifying the challenges FB faced from the COVID crisis. Advertisers pulled back sharply in the final three weeks of March, but […]
IBM Cloud is Clearing The Way to Higher Stock Price
Northlake’s investment thesis on IBM centers upon the gradual transition to faster revenue growth as cloud services become a greater part of IBM’s revenue mix. Prior to the COVID crisis, we got an unexpected boost from a CEO transition that elevated the head of company’s cloud efforts. The economic shutdown clearly will impact IBM as […]
Long Term Intact at Alphabet With Delayed Gratification
Alphabet (GOOG/GOOGL) reported 1Q20 earnings that indicated better than expected results in January and February before the economic shutdown, offset by a sharp but not quite as bad as expected slowdown in March. The company commented that advertising trends at Search and YouTube have stabilized in April with signs of green shoots. Emerging businesses like […]
Large Cap And Growth To Ride Out Storm With Less Risk
Northlake’s Market Cap model shifted from mid cap to large cap, primarily reflecting the history of large caps holding up better during bear markets. The Style model is sticking with growth which makes sense given growth companies are less sensitive to the cyclical impact of recessions. We swapped remaining client positions in mid cap to […]
Mid Cap and Growth Themes Holding For Now
There are no changes to the recommendations from Northlake’s models for March. The Market Cap model remains on a mid cap signal and the Style model is still recommending growth. There will be no changes to client positions following the models and currently invested in the S&P 400 Mid Cap (MDY), the Russell 1000 Growth […]
Nexstar Shines Amid Market Selloff
Nexstar Media Group reported excellent 4Q19 results and raised its guidance for 2020/2021 average annual free cash flow by 15%. In a normal market this news would have been greeted by a sharp rise in the stock price, arguably up 5-10% or more. Alas, Nexstar reported right into the teeth of the market sell-off on […]
Activision Blizzard Outlines Plans for 2020
Activision Blizzard (ATVI) slightly beat expectations for 4Q19 results, with typically conservative guidance for 2020 falling a bit below consensus estimates. Interestingly, Jefferies analyst Alex Giaimo noted that ATVI has beaten initial EPS guidance by 15% on average over the last 4 years. Alongside the results, ATVI also increased the dividend paid to shareholders by […]
ViacomCBS Outlines Post-Merger Strategies
ViacomCBS (VIAC) reported more disappointing news with its 4Q19 earnings report and 2020 guidance. The stock is now down about -40% since last summer when the company first lowered its outlook. Investors had thought that management had given a conservative outlook back then but this appears to have not been the case. Management credibility is […]