For the third quarter in a row, Sherwin Williams (SHW) adjusted 2018 EPS guidance. In 1Q18, SHW dropped the estimate from $19.05 to $18.65 due to new investments in an expanded partnership with Lowe’s. Then in 2Q18, SHW turned around and increased EPS to $19.20 after a strong start to the year. Now in 3Q18, […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Tim Fodorhttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifTim Fodor2018-12-03 12:50:372018-12-03 12:50:37Sherwin Williams Reduces Top End of Guidance
Activision Blizzard (ATVI) reported 3Q18 revenues matching estimates with EPS ahead of expectations. However, implied 4Q18 guidance was weaker than expected, sending the shares sharply lower. While the guidance was likely conservative given the highly competitive holiday season this year, 3Q18 results were not good enough to support the stock in a punishing environment for […]
MGM Resorts (MGM) reported better than expected 3Q18 results driven by the company’s Las Vegas properties. The beat was at least partially due to a significant reset of expectations following a new approach to guidance by management after overpromising in 2017 and 2018 and a pessimistic outlook from analysts after a sudden slowdown in Las […]
Facebook (FB) reported mixed 3Q18 results relative to expectations. Revenues fell slightly short of estimates but operating and income and EPS beat consensus as the ramp in expenses to combat the many privacy issues the company is facing was slower than expected. Management provided initial expense guidance for 2019 of up 40-50% indicating the 3Q18 […]
CBS continued its pattern of reporting modest growth against the tide of change in the TV business. 3Q18 revenues grew 3% with EPS advancing 11%. Operating income grew only 1% as the company continues to benefits at the EPS from large share buybacks and the reduction in corporate tax rates. CBS shares have stalled the […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2018-11-14 20:59:302018-11-14 20:59:30New Leadership Offers Its Vision for CBS
Powered by the intense election fight, political ad sales drove Nexstar Media Group (NXST) to better than expected 3Q18 earnings. Management raised guidance for the year based on the political ad spending. Importantly, management also noted that after accounting for the displacement of core non-political advertising, traditional ad spending has modestly strengthened and is approaching […]
Apple (AAPL) reported decent September quarter results with revenues and EPS slightly ahead of estimates. iPhone shipments came in about 1% under street estimates but were offset by better than expected average selling prices. Services, which had been surprising to the upside and driving an improved growth narrative for AAPL, saw revenue come in about […]
Comcast (CMCSA) still has to convince us and a lot of investors of the wisdom of its acquisition of Sky Plc, Europe’s largest satellite TV provider. Fortunately, the company’s domestic cable business and NBC Universal content operations are performing well giving the company some breathing room. Management can point to a strong record on acquisitions […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2018-11-12 20:55:492018-11-12 20:55:49Comcast in Strong Position As It Looks for Blue Sky in Europe
Disney (DIS) reported a strong 4Q18 as it wrapped a good fiscal year financially and an eventful one strategically. For the year, revenue grew 8%, the best rate of growth since 2015.Opeting income grew 6% but adjusting for losses at recently acquired BAM TECH and ongoing losses at Hulu, growth would have been several percentage […]
For the third month in a row, there were no changes to the signals provided by Northlake’s thematic models. Northlake’s Market Cap model remained on a large cap signal for November, and the Style model remained neutral between growth and value. Current client positions in the S&P 500 (SPY) will continue to be held for […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Tim Fodorhttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifTim Fodor2018-11-01 14:15:292018-11-01 14:15:29Large Cap and Neutral Signals Remain Intact for November
Sherwin Williams Reduces Top End of Guidance
For the third quarter in a row, Sherwin Williams (SHW) adjusted 2018 EPS guidance. In 1Q18, SHW dropped the estimate from $19.05 to $18.65 due to new investments in an expanded partnership with Lowe’s. Then in 2Q18, SHW turned around and increased EPS to $19.20 after a strong start to the year. Now in 3Q18, […]
Activision Blizzard: Conservative 3Q18 Guidance Concerns Investors
Activision Blizzard (ATVI) reported 3Q18 revenues matching estimates with EPS ahead of expectations. However, implied 4Q18 guidance was weaker than expected, sending the shares sharply lower. While the guidance was likely conservative given the highly competitive holiday season this year, 3Q18 results were not good enough to support the stock in a punishing environment for […]
MGM Resorts Setup Improves into 2019
MGM Resorts (MGM) reported better than expected 3Q18 results driven by the company’s Las Vegas properties. The beat was at least partially due to a significant reset of expectations following a new approach to guidance by management after overpromising in 2017 and 2018 and a pessimistic outlook from analysts after a sudden slowdown in Las […]
Cheap Valuation Meets Uncertain Future at Facebook
Facebook (FB) reported mixed 3Q18 results relative to expectations. Revenues fell slightly short of estimates but operating and income and EPS beat consensus as the ramp in expenses to combat the many privacy issues the company is facing was slower than expected. Management provided initial expense guidance for 2019 of up 40-50% indicating the 3Q18 […]
New Leadership Offers Its Vision for CBS
CBS continued its pattern of reporting modest growth against the tide of change in the TV business. 3Q18 revenues grew 3% with EPS advancing 11%. Operating income grew only 1% as the company continues to benefits at the EPS from large share buybacks and the reduction in corporate tax rates. CBS shares have stalled the […]
Election Cycle Powers Nexstar to Beat and Raise
Powered by the intense election fight, political ad sales drove Nexstar Media Group (NXST) to better than expected 3Q18 earnings. Management raised guidance for the year based on the political ad spending. Importantly, management also noted that after accounting for the displacement of core non-political advertising, traditional ad spending has modestly strengthened and is approaching […]
Apple Hits a Sour Spot, Long-Term Intact
Apple (AAPL) reported decent September quarter results with revenues and EPS slightly ahead of estimates. iPhone shipments came in about 1% under street estimates but were offset by better than expected average selling prices. Services, which had been surprising to the upside and driving an improved growth narrative for AAPL, saw revenue come in about […]
Comcast in Strong Position As It Looks for Blue Sky in Europe
Comcast (CMCSA) still has to convince us and a lot of investors of the wisdom of its acquisition of Sky Plc, Europe’s largest satellite TV provider. Fortunately, the company’s domestic cable business and NBC Universal content operations are performing well giving the company some breathing room. Management can point to a strong record on acquisitions […]
Disney Steady Ahead of Major 2019/20 Transition
Disney (DIS) reported a strong 4Q18 as it wrapped a good fiscal year financially and an eventful one strategically. For the year, revenue grew 8%, the best rate of growth since 2015.Opeting income grew 6% but adjusting for losses at recently acquired BAM TECH and ongoing losses at Hulu, growth would have been several percentage […]
Large Cap and Neutral Signals Remain Intact for November
For the third month in a row, there were no changes to the signals provided by Northlake’s thematic models. Northlake’s Market Cap model remained on a large cap signal for November, and the Style model remained neutral between growth and value. Current client positions in the S&P 500 (SPY) will continue to be held for […]