Activision Blizzard (ATVI) reported sales and earnings that were better than expected with typically conservative guidance for 4Q19. The restructuring effort underway at ATVI appears to be gaining traction as the company invests toward setting up a strong 2020. Such investments include increasing marketing spend behind successful franchises to expand the player base, developing content […]
Facebook (FB) reported 3Q19 sales slightly ahead of expectations with stronger earnings driven by disciplined expense growth. Guidance commentary was mostly positive with a warning of a pronounced revenue deceleration in 4Q19 due to difficult comparisons to the prior year being offset by an encouraging outlook for 2020. Northlake sees FB heading toward a positive […]
Nexstar Media Group (NXST) has been one of Northlake’s best performing stocks this year. The shares are up 38%, including a gain of about 10% since the company reported third quarter earnings last week. NXST has attracted investors due to its highly accretive acquisition of Tribune, which makes NXST the largest owner of local TV […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-11-12 16:43:032019-11-12 16:43:03Positive Outlook at Nexstar as Tribune Acquisition Closes
CBS reported 3Q19 earnings in line with reduced Wall Street expectations in its last quarter as standalone company. The merger of Viacom and CBS to create ViacomCBS should close in the first half of December. CBS shares represent the newco as Viacom shareholders will exchange their shares for CBS shares. CBS shares have declined sharply […]
Following a disappointing result in the June quarter with unexpected weakness in Disney’s core business segments, September quarter earnings were improved with stabilization or improvement in theme parks and acquired 21st Century Fox film and TV operations. This led to a relief rally of 3% in DIS shares which had pulled back from $140 to […]
Both of Northlake’s models are sending new signals for November. The Market Cap model shifted back to mid cap after just two months at large cap. The Style model moved to neutral after ten months at growth. Both shifts reflect slightly improved economic data and reduced risk of a U.S. recession. As a result of […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-11-01 15:53:122019-11-01 15:53:12Recession Fears Receding Drives Shift To Mid Cap and Value
Apple (AAPL) reported a beat and raise quarter affirming that the iPhone 11 cycle is proceeding better than expected. The report also contained good news with above consensus growth in Wearables and Services. Apple shares had discounted this good news, rising from a low of $170 in June to over $240 ahead of the report. […]
Since the tragic shooting at Mandalay Bay in October 2017, MGM Resorts (MGM) has posted inconsistent results at its Las Vegas properties. There has been a lingering impact in Las Vegas generally and at MGM’s southern Strip properties in particular. The results have also bounced around due to the Las Vegas convention and entertainment calendar […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-10-31 20:02:112019-10-31 20:02:11MGM Resorts Moving in the Right Direction
Alphabet’s (GOOG/GOOGL) headline 3Q19 earnings release was mixed but after adjusting for one-time items, the report was a good one albeit lacking the upside relative to consensus estimates the company reported last quarter. Most importantly for Northlake, Alphabet showed strong advertising growth above 20% reinforcing the rebound in 2Q19 after the unexpected deceleration in growth […]
In what has become routine, Comcast (CMCSA) reported solid results with strength in the cable business offset by weaker trends at NBC Universal. Northlake sees more value creation on the distribution side looking ahead to 2020 and 2021 as the company increasingly becomes a broadband supplier rather than a video distributor. We all read a […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-10-24 17:11:482019-10-24 17:11:48Comcast Again Benefits from Focus on Broadband
Activision Blizzard Investing for Strong 2020
Activision Blizzard (ATVI) reported sales and earnings that were better than expected with typically conservative guidance for 4Q19. The restructuring effort underway at ATVI appears to be gaining traction as the company invests toward setting up a strong 2020. Such investments include increasing marketing spend behind successful franchises to expand the player base, developing content […]
Facebook Overcomes Growth Concerns with Strong Execution
Facebook (FB) reported 3Q19 sales slightly ahead of expectations with stronger earnings driven by disciplined expense growth. Guidance commentary was mostly positive with a warning of a pronounced revenue deceleration in 4Q19 due to difficult comparisons to the prior year being offset by an encouraging outlook for 2020. Northlake sees FB heading toward a positive […]
Positive Outlook at Nexstar as Tribune Acquisition Closes
Nexstar Media Group (NXST) has been one of Northlake’s best performing stocks this year. The shares are up 38%, including a gain of about 10% since the company reported third quarter earnings last week. NXST has attracted investors due to its highly accretive acquisition of Tribune, which makes NXST the largest owner of local TV […]
CBS Meets Reduced Expectations as Viacom Merger Looms
CBS reported 3Q19 earnings in line with reduced Wall Street expectations in its last quarter as standalone company. The merger of Viacom and CBS to create ViacomCBS should close in the first half of December. CBS shares represent the newco as Viacom shareholders will exchange their shares for CBS shares. CBS shares have declined sharply […]
Disney Core Stable as the DTC Future Begins
Following a disappointing result in the June quarter with unexpected weakness in Disney’s core business segments, September quarter earnings were improved with stabilization or improvement in theme parks and acquired 21st Century Fox film and TV operations. This led to a relief rally of 3% in DIS shares which had pulled back from $140 to […]
Recession Fears Receding Drives Shift To Mid Cap and Value
Both of Northlake’s models are sending new signals for November. The Market Cap model shifted back to mid cap after just two months at large cap. The Style model moved to neutral after ten months at growth. Both shifts reflect slightly improved economic data and reduced risk of a U.S. recession. As a result of […]
Apple Accelerates Growth in Services and Wearables
Apple (AAPL) reported a beat and raise quarter affirming that the iPhone 11 cycle is proceeding better than expected. The report also contained good news with above consensus growth in Wearables and Services. Apple shares had discounted this good news, rising from a low of $170 in June to over $240 ahead of the report. […]
MGM Resorts Moving in the Right Direction
Since the tragic shooting at Mandalay Bay in October 2017, MGM Resorts (MGM) has posted inconsistent results at its Las Vegas properties. There has been a lingering impact in Las Vegas generally and at MGM’s southern Strip properties in particular. The results have also bounced around due to the Las Vegas convention and entertainment calendar […]
Alphabet Reports Solid 3Q19 Results
Alphabet’s (GOOG/GOOGL) headline 3Q19 earnings release was mixed but after adjusting for one-time items, the report was a good one albeit lacking the upside relative to consensus estimates the company reported last quarter. Most importantly for Northlake, Alphabet showed strong advertising growth above 20% reinforcing the rebound in 2Q19 after the unexpected deceleration in growth […]
Comcast Again Benefits from Focus on Broadband
In what has become routine, Comcast (CMCSA) reported solid results with strength in the cable business offset by weaker trends at NBC Universal. Northlake sees more value creation on the distribution side looking ahead to 2020 and 2021 as the company increasingly becomes a broadband supplier rather than a video distributor. We all read a […]