There was very little moved in the indicators underlying Northlake’s Market Cap and Style models for October. As a result, neither model triggered a new signal. The Market Cap model still favors large caps and the Style model is neutral on growth vs. value. Current client positions in the S&P 500 (SPY) will be held […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2018-10-01 18:44:392018-10-01 18:44:39Stabilizing at Large Cap with No Style Preference
Each of Northlake’s models shifted for September. The Market Cap model is now recommending large cap and the Style model is at neutral. Each of these signals moved after just one month and went back to the prevailing themes that began in June. Given the new signals, client positions in the S&P 400 Mid Cap […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2018-09-04 15:30:582018-09-04 15:30:58Models Revert to Large Caps and Neutral on Growth vs. Value
Liberty Global (LBTYK) reported another quarter of mixed results. Headline numbers continue to track to guidance that assumes acceleration in growth in the second half of 2018. There is evidence in the first half results that the acceleration will occur. However, there is still quality of earnings issues and the company’s overall growth profile beyond […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2018-08-10 19:59:462018-08-10 19:59:46Growth Challenges Remain for Liberty Global
Nexstar Media Group (NXST) reported another solid quarter, further cementing the company as the most consistent, highest quality local TV broadcaster. A boom in political TV advertising and excellent expense control led to the company beating expectations for EBITDA, the key valuation metric for the industry. Critical to NXST and the industry is converting EBITDA […]
Disney reported mixed 3Q18 results with theme parks and broadcast TV excelling and cable networks, the film studio, and consumer products lagging. Revenue and EPS were a little under consensus estimates leading the stock to decline 1-2%. The shares have been quite strong since March, reaching their highest level since May 2017. This may have […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2018-08-08 19:30:212018-08-08 19:30:21Disney: Shift Towards DTC/OTT Comes Into Focus
MGM Resorts (MGM) reported decent results for 2Q18 albeit against expectations that were lowered just 90 days ago. When management lowered guidance dramatically for the rest of 2018, investors were very disappointed, sending the shares down 10% over a two day period. The only real good news here is that by almost any measure the […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2018-08-07 15:46:372018-08-07 15:46:37MGM Reduces Outlook for 2018
CBS is performing well compared to other TV centric media companies. Smart management decisions have the company building a successful presence in in OTT video with Showtime and CBS All Access. A strong lineup of sports and marquee entertainment event programming like the Grammy’s is keeping advertising to low single digit declines even as prime […]
Activision Blizzard (ATVI) beat estimates for 2Q18 sales and earnings, but provided mixed guidance commentary for the back half of the year. Guidance for the third quarter was well below expectations, partially due to increased marketing expenses ahead of a busy and highly competitive holiday season launch slate. Full year guidance was increased but remains […]
Both of Northlake’s thematic models sent new signals for August. The Market Cap model shifted from large cap to mid cap, while the Style model moved from neutral back to growth. As a result of the new signals, client positions in the S&P 500 (SPY) and Russell 1000 Value (IWD) were sold and proceeds reinvested […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2018-08-01 16:25:532018-08-01 16:25:53Shift to Mid Cap and Growth for August
Apple (AAPL) reported solid 3Q18 results and issued slightly better than expected guidance for the September quarter. The stock should be in good shape heading into this fall’s new iPhone launch. Northlake intends to hold AAPL shares in client accounts but some small sales could occur due to position size management. A move up to […]
Stabilizing at Large Cap with No Style Preference
There was very little moved in the indicators underlying Northlake’s Market Cap and Style models for October. As a result, neither model triggered a new signal. The Market Cap model still favors large caps and the Style model is neutral on growth vs. value. Current client positions in the S&P 500 (SPY) will be held […]
Models Revert to Large Caps and Neutral on Growth vs. Value
Each of Northlake’s models shifted for September. The Market Cap model is now recommending large cap and the Style model is at neutral. Each of these signals moved after just one month and went back to the prevailing themes that began in June. Given the new signals, client positions in the S&P 400 Mid Cap […]
Growth Challenges Remain for Liberty Global
Liberty Global (LBTYK) reported another quarter of mixed results. Headline numbers continue to track to guidance that assumes acceleration in growth in the second half of 2018. There is evidence in the first half results that the acceleration will occur. However, there is still quality of earnings issues and the company’s overall growth profile beyond […]
Nexstar Reaffirms Industry Leadership
Nexstar Media Group (NXST) reported another solid quarter, further cementing the company as the most consistent, highest quality local TV broadcaster. A boom in political TV advertising and excellent expense control led to the company beating expectations for EBITDA, the key valuation metric for the industry. Critical to NXST and the industry is converting EBITDA […]
Disney: Shift Towards DTC/OTT Comes Into Focus
Disney reported mixed 3Q18 results with theme parks and broadcast TV excelling and cable networks, the film studio, and consumer products lagging. Revenue and EPS were a little under consensus estimates leading the stock to decline 1-2%. The shares have been quite strong since March, reaching their highest level since May 2017. This may have […]
MGM Reduces Outlook for 2018
MGM Resorts (MGM) reported decent results for 2Q18 albeit against expectations that were lowered just 90 days ago. When management lowered guidance dramatically for the rest of 2018, investors were very disappointed, sending the shares down 10% over a two day period. The only real good news here is that by almost any measure the […]
CBS: Strong Fundamentals Overshadowed by Embattled Management
CBS is performing well compared to other TV centric media companies. Smart management decisions have the company building a successful presence in in OTT video with Showtime and CBS All Access. A strong lineup of sports and marquee entertainment event programming like the Grammy’s is keeping advertising to low single digit declines even as prime […]
Activision Blizzard Reports Strong 2Q18 Results and Typically Conservative Guidance
Activision Blizzard (ATVI) beat estimates for 2Q18 sales and earnings, but provided mixed guidance commentary for the back half of the year. Guidance for the third quarter was well below expectations, partially due to increased marketing expenses ahead of a busy and highly competitive holiday season launch slate. Full year guidance was increased but remains […]
Shift to Mid Cap and Growth for August
Both of Northlake’s thematic models sent new signals for August. The Market Cap model shifted from large cap to mid cap, while the Style model moved from neutral back to growth. As a result of the new signals, client positions in the S&P 500 (SPY) and Russell 1000 Value (IWD) were sold and proceeds reinvested […]
Apple Issues Guidance Above Expectations
Apple (AAPL) reported solid 3Q18 results and issued slightly better than expected guidance for the September quarter. The stock should be in good shape heading into this fall’s new iPhone launch. Northlake intends to hold AAPL shares in client accounts but some small sales could occur due to position size management. A move up to […]