There are no changes to the recommendations form Northlake’s Market Cap and Style models for April. Growth remains the favored Style as it has been since the start of January. The Mid Cap signal also stays in place for the third consecutive month. With no changes to the model signals, client positions 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 Birenberg2019-05-01 14:18:082019-05-01 14:18:08Mid Cap and Growth Themes Remain in Place
Apple (AAPL) reported weak but better than expected 2Q19 results and 3Q19 guidance. Revenues fell -5% for the second consecutive quarter. Operating profit fell -15% after declining -10% last quarter. EPS exceeded expectations but still declined -10% boosted by additional share repurchases. Net income fell -16%. Guess what? Amid all these negative numbers AAPL shares […]
On the surface, MGM Resorts (MGM) reported 1Q19 results in line with Wall Street expectations. However, the composition of the results is troubling investors. Regional casinos in the US did well. Macau showed hoped for improvement assisted by high hold at the tables. Las Vegas fell short on EBITDA. Given that the narrative on MGM […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-04-30 17:37:132019-04-30 17:37:13MGM: The Wait is Almost Over
Alphabet (GOOG/GOOGL) reported disappointing 1Q19 earnings driven by across the board weakness in revenue trends relative to expectations. We have noted in past earnings recaps that Alphabet was holding consistently to 20% plus revenue growth despite the company’s massive size and market share. 1Q19 saw revenue growth in the upper teens, well below expectations for […]
After a tough stretch beginning with last August’s shocking guidance reduction, Facebook (FB) appears mostly out of the woods as far as the bear case goes. User growth at the core Facebook app has held up well in the U.S. and Europe despite the near constant controversies related to privacy. More importantly, advertisers appear to […]
After a difficult 2018, Comcast (CMCSA) shares have rebounded to challenge all-time highs reached at the beginning of last year. This might be hard to understand given the constant drumbeat of news stories about cord-cutting. Well, guess what? Cable is actually a good business and getting better financially speaking. Lost in the cord-cutting hysteria is […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-04-25 16:50:092019-04-25 16:50:09Comcast Transition to Broadband is Bullish
There are no changes to the recommendations from Northlake’s Market Cap and Style models for April. The Market Cap model remains on a mid cap signal for the second consecutive month and the Style model favors growth for the fourth straight month. With no changes, client positions in the S&P 400 Mid Cap (MDY), the […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-04-01 16:11:422019-04-01 16:11:42Stick With Mid Cap and Growth
Northlake’s Market Cap model shifted from large cap to mid cap for March after a six month run favoring large caps. As a result, client positions in large cap (S&P 500/SPY or Russell 1000/IWB) have been sold and proceeds reinvested into the S&P 400 Mid Cap (MDY). There is no change to the growth signal […]
Activision Blizzard (ATVI) reported record 4Q18 earnings in line with expectations despite sales coming in weaker than hoped. Guidance for 2019 was poor, with sales now expected to be 13% below previous consensus estimates and earnings of $2.10 coming in 16% below consensus. Along with the disappointing guidance, ATVI announced a layoff of 8% of […]
Nexstar Media Group (NXST) reported strong 4Q18 results and issued positive initial guidance for 2019 and 2020 on a standalone basis. NXST should complete its acquisition of Tribune Media in 3Q18 and reiterated initial guidance that the combined company will earn at least $900 million in average free cash flow in the 2019/2020 cycle. Local […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-02-26 20:15:262019-02-26 20:15:26Bullish Outlook Affirmed at Nexstar Media Group
Mid Cap and Growth Themes Remain in Place
There are no changes to the recommendations form Northlake’s Market Cap and Style models for April. Growth remains the favored Style as it has been since the start of January. The Mid Cap signal also stays in place for the third consecutive month. With no changes to the model signals, client positions in the S&P […]
Apple Shows Potential to Ripen
Apple (AAPL) reported weak but better than expected 2Q19 results and 3Q19 guidance. Revenues fell -5% for the second consecutive quarter. Operating profit fell -15% after declining -10% last quarter. EPS exceeded expectations but still declined -10% boosted by additional share repurchases. Net income fell -16%. Guess what? Amid all these negative numbers AAPL shares […]
MGM: The Wait is Almost Over
On the surface, MGM Resorts (MGM) reported 1Q19 results in line with Wall Street expectations. However, the composition of the results is troubling investors. Regional casinos in the US did well. Macau showed hoped for improvement assisted by high hold at the tables. Las Vegas fell short on EBITDA. Given that the narrative on MGM […]
Alphabet Revenue Growth Decelerates
Alphabet (GOOG/GOOGL) reported disappointing 1Q19 earnings driven by across the board weakness in revenue trends relative to expectations. We have noted in past earnings recaps that Alphabet was holding consistently to 20% plus revenue growth despite the company’s massive size and market share. 1Q19 saw revenue growth in the upper teens, well below expectations for […]
Facebook Weathering the Storm
After a tough stretch beginning with last August’s shocking guidance reduction, Facebook (FB) appears mostly out of the woods as far as the bear case goes. User growth at the core Facebook app has held up well in the U.S. and Europe despite the near constant controversies related to privacy. More importantly, advertisers appear to […]
Comcast Transition to Broadband is Bullish
After a difficult 2018, Comcast (CMCSA) shares have rebounded to challenge all-time highs reached at the beginning of last year. This might be hard to understand given the constant drumbeat of news stories about cord-cutting. Well, guess what? Cable is actually a good business and getting better financially speaking. Lost in the cord-cutting hysteria is […]
Stick With Mid Cap and Growth
There are no changes to the recommendations from Northlake’s Market Cap and Style models for April. The Market Cap model remains on a mid cap signal for the second consecutive month and the Style model favors growth for the fourth straight month. With no changes, client positions in the S&P 400 Mid Cap (MDY), the […]
Back to Mid Caps
Northlake’s Market Cap model shifted from large cap to mid cap for March after a six month run favoring large caps. As a result, client positions in large cap (S&P 500/SPY or Russell 1000/IWB) have been sold and proceeds reinvested into the S&P 400 Mid Cap (MDY). There is no change to the growth signal […]
Activision Blizzard Announces Disappointing 2019 Guidance and Restructuring Plan
Activision Blizzard (ATVI) reported record 4Q18 earnings in line with expectations despite sales coming in weaker than hoped. Guidance for 2019 was poor, with sales now expected to be 13% below previous consensus estimates and earnings of $2.10 coming in 16% below consensus. Along with the disappointing guidance, ATVI announced a layoff of 8% of […]
Bullish Outlook Affirmed at Nexstar Media Group
Nexstar Media Group (NXST) reported strong 4Q18 results and issued positive initial guidance for 2019 and 2020 on a standalone basis. NXST should complete its acquisition of Tribune Media in 3Q18 and reiterated initial guidance that the combined company will earn at least $900 million in average free cash flow in the 2019/2020 cycle. Local […]