CBS has been the most frustrating stock in the Northlake portfolio. The company has consistently met or exceeded earnings estimates, steadily increased its dividend and share buyback, pruned its portfolio wisely to reduce advertising exposure and cyclicality, and is the clear leader among broadcast and TV network companies with its OTT strategy. However, none of […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2018-05-04 20:08:012018-05-04 20:08:01Light at the End of the CBS Tunnel
There is no super cycle at Apple but business fundamentals at Apple still look solid. Apple reported earnings in line with Wall Street estimates but ahead of fears. Guidance for the next quarter was ahead of recently lowered investor expectations. The key takeaways from Apple’s quarter are: iPhone units volumes are not collapsing, growing 3% […]
There are no changes to the recommendations from Northlake’s Market Cap and Style models for May. The Market Cap model is signaling large cap for the second consecutive month, while the Style model remains on a growth signal for the third straight month. As a result of the latest signals, Northlake client accounts following the […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2018-05-01 15:25:042018-05-01 15:25:04Sticking With Large Cap and Growth
Facebook (FB) has recently been the focus of media scrutiny surrounding the company’s role in Russian interference in the US presidential election, the Cambridge Analytica data leak, and the Eurozone’s upcoming General Data Protection Regulations (GDPR). Despite the concerns caused by these issues, FB reported impressive 1Q18 sales and earnings results. The outlook for 2018 […]
MGM Resorts (MGM) reported pretty good 1Q18 earnings but lowered its outlook for the rest of the year based primarily on company specific factors. The business environment in Las Vegas and Macau remains favorable and should stay that way short of a global growth slowdown or recession. MGM’s problems are partially due to poor communication […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2018-04-30 17:40:232018-04-30 17:40:23MGM Resorts Working Through Headwinds
Comcast (CMCSA) has become a difficult company and stock to analyze. The latest quarterly earnings report indicates 2018 is off to a decent start but not without significant challenges that reinforce the long-term concerns about video subscriber losses and broadband competition. Complicating matters further is the company’s offer to buy Sky, the dominant satellite TV […]
Sherwin Williams (SHW) beat 1Q18 sales and profit expectations, but unexpectedly reduced 2018 consolidated earnings guidance from $19.05 to $18.65 reflecting new investments in an expanded partnership with Lowe’s. SHW expects to recoup the entire $0.40 2018 EPS impact in 2019, noting that the incremental investment would be accretive to sales and profits next year. […]
Alphabet (GOOG/GOOGL) reported mixed results relative to consensus expectations for 1Q18. The results also contained a lot of noise due to accounting requirements. The key takeaways for Northlake are that the company is still growing quite rapidly given its size, while the cost of sustaining the growth is rising. We emphasize the long-term opportunity over […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2018-04-24 17:20:132018-04-24 17:20:13Alphabet: Expense Growth Overshadows Revenue Upside But It Is Money Well Spent
Northlake’s Market Cap model moved from mid cap to large cap for April. This is the first large cap reading since September 2017. The Market Cap model often moves in stair step fashion from small to mid large and large to mid to small. For December 2017, the signal was small cap, so the new […]
Northlake’s Style model flipped back to growth for March, so client holdings in the Russell 1000 Value (IWD) are being sold and proceeds reinvested into the Russell 1000 Growth (IWF). There is no change to the Market Cap model’s mid cap signal. Positions in the S&P 400 Mid Cap (MDY) will be held another month. […]
Light at the End of the CBS Tunnel
CBS has been the most frustrating stock in the Northlake portfolio. The company has consistently met or exceeded earnings estimates, steadily increased its dividend and share buyback, pruned its portfolio wisely to reduce advertising exposure and cyclicality, and is the clear leader among broadcast and TV network companies with its OTT strategy. However, none of […]
Better Apple Results and Guidance Amid Cautious Sentiment
There is no super cycle at Apple but business fundamentals at Apple still look solid. Apple reported earnings in line with Wall Street estimates but ahead of fears. Guidance for the next quarter was ahead of recently lowered investor expectations. The key takeaways from Apple’s quarter are: iPhone units volumes are not collapsing, growing 3% […]
Sticking With Large Cap and Growth
There are no changes to the recommendations from Northlake’s Market Cap and Style models for May. The Market Cap model is signaling large cap for the second consecutive month, while the Style model remains on a growth signal for the third straight month. As a result of the latest signals, Northlake client accounts following the […]
Facebook Delivers Strong Results Despite Data Privacy Concerns
Facebook (FB) has recently been the focus of media scrutiny surrounding the company’s role in Russian interference in the US presidential election, the Cambridge Analytica data leak, and the Eurozone’s upcoming General Data Protection Regulations (GDPR). Despite the concerns caused by these issues, FB reported impressive 1Q18 sales and earnings results. The outlook for 2018 […]
MGM Resorts Working Through Headwinds
MGM Resorts (MGM) reported pretty good 1Q18 earnings but lowered its outlook for the rest of the year based primarily on company specific factors. The business environment in Las Vegas and Macau remains favorable and should stay that way short of a global growth slowdown or recession. MGM’s problems are partially due to poor communication […]
Comcast Posts Solid Performance Amid Strategic Concerns
Comcast (CMCSA) has become a difficult company and stock to analyze. The latest quarterly earnings report indicates 2018 is off to a decent start but not without significant challenges that reinforce the long-term concerns about video subscriber losses and broadband competition. Complicating matters further is the company’s offer to buy Sky, the dominant satellite TV […]
Sherwin Williams: Betting On The Long-Term Amid Short-Term Headwinds
Sherwin Williams (SHW) beat 1Q18 sales and profit expectations, but unexpectedly reduced 2018 consolidated earnings guidance from $19.05 to $18.65 reflecting new investments in an expanded partnership with Lowe’s. SHW expects to recoup the entire $0.40 2018 EPS impact in 2019, noting that the incremental investment would be accretive to sales and profits next year. […]
Alphabet: Expense Growth Overshadows Revenue Upside But It Is Money Well Spent
Alphabet (GOOG/GOOGL) reported mixed results relative to consensus expectations for 1Q18. The results also contained a lot of noise due to accounting requirements. The key takeaways for Northlake are that the company is still growing quite rapidly given its size, while the cost of sustaining the growth is rising. We emphasize the long-term opportunity over […]
An Unusually Strong Growth While Growth Leads A Correction
Northlake’s Market Cap model moved from mid cap to large cap for April. This is the first large cap reading since September 2017. The Market Cap model often moves in stair step fashion from small to mid large and large to mid to small. For December 2017, the signal was small cap, so the new […]
Back to Growth and Latest Market Thoughts
Northlake’s Style model flipped back to growth for March, so client holdings in the Russell 1000 Value (IWD) are being sold and proceeds reinvested into the Russell 1000 Growth (IWF). There is no change to the Market Cap model’s mid cap signal. Positions in the S&P 400 Mid Cap (MDY) will be held another month. […]