In our last blog post on MGM Resorts (MGM), we note that after a string of tough quarters brought about mostly due to things beyond MGM’s control, the story was moving in the right direction. Bad luck has struck again and not just with hold in the casinos. The coronavirus has shut down Macau and […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2020-02-13 19:54:482020-02-13 19:54:48Bad Luck Returns to MGM as CEO to Step Aside in 2020
Disney (DIS) is a difficult stock to value at the moment as the company is “all in” on the roll out of Disney+ and overall transition of its traditional media revenue sources to streaming. The new streaming services are losing money now and likely will for another few years. The traditional media businesses including ESPN […]
Alphabet (GOOG/GOOGL) reported slightly disappointing 4Q19 results compared to elevated expectations that existed thanks to a +10% gain in the shares in January to all-time highs. Looking more closely at the quarter, the headline miss in revenues was heavily concentrated in hardware sales, an area where Northlake has little concern. Overall advertising revenues at search […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2020-02-04 16:31:522020-02-04 16:31:52Alphabet Discloses YouTube and Cloud Data
Northlake’s Style model shifted to a full growth recommendation after spending two months neutral on the growth vs. value themes. The Market Cap model continues to recommend mid cap for the third consecutive month. Client positions in the Russell 1000 Value (IWD) have been sold and the proceeds reinvested in the Russell 1000 Growth (IWF). […]
Facebook (FB) delivered 4Q19 sales and earnings above consensus estimates, and reiterated guidance for 2020. The stock traded lower, reflecting an appetite for a larger upside surprise. Since last quarter, FB climbed midway into Northlake’s $200-$250 target range based on reaching 20x-25x $10+ EPS this year or next. After the earnings selloff, FB is back […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Tim Fodorhttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifTim Fodor2020-02-01 19:22:462020-02-01 19:22:46Facebook on Track for Strong 2020
Apple reported a strong 1Q20 and guided the current quarter nicely ahead of estimates on all key financial metrics. This is clearly a positive for Apple shares. However, the stock has soared recently, up 21% since Thanksgiving. Northlake sees the latest good news as largely reflected in the current price of Apple shares. Fundamentals are […]
Comcast reported solid 4Q19 results with strength in the cable business offset by a modest shortfall at NBC Universal’s broadcast and cable TV networks, theme parks, and film studio. As often seems to be the case over the past year, Comcast’s conference call snatched defeat from the jaws of victory when the company discussed specific […]
IBM’s 4Q19 earnings report was a big step in the right direction for Northlake’s bullish thesis on IBM shares. As a reminder, we see the potential for an expansion in the company’s depressed P-E multiple if the company can return to modest revenue growth due to improvement in the company’s growth businesses – hybrid cloud, […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2020-01-22 18:50:372020-01-22 18:50:37Green Shoots Sprouting at IBM
Northlake’s Market Cap and Style models begin 2020 as they ended 2019, favoring mid caps and neutral on growth vs. value. This means that client positions following the models will stay invested in the S&P 400 Mid Cap (MDY), the Russell 1000 Growth (IWF), the S&P 500 Growth (SPYG), and Russell 1000 Value (IWD) for […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2020-01-02 14:26:372020-01-02 14:26:37Models Stick with Mid Caps and Neutral on Growth vs. Value to Begin 2020
There are no changes to Northlake’s thematic models for December. The new signals initiated at the start of November remain in place. The Market Cap model is recommending mid cap and the Style model is neutral on growth vs value. With no changes to the signals, client positions following the models held in the S&P […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-12-02 15:29:382019-12-02 15:29:38Sticking with Mid Cap and Neutral on Growth vs. Value to Finish 2020
Bad Luck Returns to MGM as CEO to Step Aside in 2020
In our last blog post on MGM Resorts (MGM), we note that after a string of tough quarters brought about mostly due to things beyond MGM’s control, the story was moving in the right direction. Bad luck has struck again and not just with hold in the casinos. The coronavirus has shut down Macau and […]
Disney DTC Efforts Ahead of Schedule
Disney (DIS) is a difficult stock to value at the moment as the company is “all in” on the roll out of Disney+ and overall transition of its traditional media revenue sources to streaming. The new streaming services are losing money now and likely will for another few years. The traditional media businesses including ESPN […]
Alphabet Discloses YouTube and Cloud Data
Alphabet (GOOG/GOOGL) reported slightly disappointing 4Q19 results compared to elevated expectations that existed thanks to a +10% gain in the shares in January to all-time highs. Looking more closely at the quarter, the headline miss in revenues was heavily concentrated in hardware sales, an area where Northlake has little concern. Overall advertising revenues at search […]
Back to Growth Amid Increased Economic Uncertainty
Northlake’s Style model shifted to a full growth recommendation after spending two months neutral on the growth vs. value themes. The Market Cap model continues to recommend mid cap for the third consecutive month. Client positions in the Russell 1000 Value (IWD) have been sold and the proceeds reinvested in the Russell 1000 Growth (IWF). […]
Facebook on Track for Strong 2020
Facebook (FB) delivered 4Q19 sales and earnings above consensus estimates, and reiterated guidance for 2020. The stock traded lower, reflecting an appetite for a larger upside surprise. Since last quarter, FB climbed midway into Northlake’s $200-$250 target range based on reaching 20x-25x $10+ EPS this year or next. After the earnings selloff, FB is back […]
Apple Risk Reward Balanced Amid Strong Fundamentals
Apple reported a strong 1Q20 and guided the current quarter nicely ahead of estimates on all key financial metrics. This is clearly a positive for Apple shares. However, the stock has soared recently, up 21% since Thanksgiving. Northlake sees the latest good news as largely reflected in the current price of Apple shares. Fundamentals are […]
Comcast Broadband Strength Offset by TV Headwinds
Comcast reported solid 4Q19 results with strength in the cable business offset by a modest shortfall at NBC Universal’s broadcast and cable TV networks, theme parks, and film studio. As often seems to be the case over the past year, Comcast’s conference call snatched defeat from the jaws of victory when the company discussed specific […]
Green Shoots Sprouting at IBM
IBM’s 4Q19 earnings report was a big step in the right direction for Northlake’s bullish thesis on IBM shares. As a reminder, we see the potential for an expansion in the company’s depressed P-E multiple if the company can return to modest revenue growth due to improvement in the company’s growth businesses – hybrid cloud, […]
Models Stick with Mid Caps and Neutral on Growth vs. Value to Begin 2020
Northlake’s Market Cap and Style models begin 2020 as they ended 2019, favoring mid caps and neutral on growth vs. value. This means that client positions following the models will stay invested in the S&P 400 Mid Cap (MDY), the Russell 1000 Growth (IWF), the S&P 500 Growth (SPYG), and Russell 1000 Value (IWD) for […]
Sticking with Mid Cap and Neutral on Growth vs. Value to Finish 2020
There are no changes to Northlake’s thematic models for December. The new signals initiated at the start of November remain in place. The Market Cap model is recommending mid cap and the Style model is neutral on growth vs value. With no changes to the signals, client positions following the models held in the S&P […]