Northlake’s Style model is recommending Growth again after two months with a neutral signal. The model is picking up on risks to the economic outlook caused by the chaotic implantation of large tariffs on friends and foes alike. Soft data based on surveys of businesses and consumers already reflect heightened recession risk. Economic data releases […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2025-05-01 16:27:332026-02-06 16:27:56Shifting Back to Growth as Economic Outlook Weakens
There are no changes to the recommendations from Northlake’s Market Cap and Style models for April. The Market Cap model continues to favor large cap and the Style model remains neutral on growth vs. value. We will not make any changes to client positions that follow our models and will hold the S&P 500 (SPY), […]
After two months favoring growth, Northlake’s Style model shifted back to neutral for March. There is no change to the large cap signal from the Market Cap model that went into effect at the beginning of January. As a result of the new Style model signal, clients using Northlake’s model strategy will see half of […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2025-03-03 16:26:102026-02-06 16:26:39Back to Neutral on Style Amid Stock Market and Economic Data Volatility
Alphabet (GOOG/GOOGL): GOOG reported mixed results and guidance for 4Q24 and 1Q25 relative to Wall Street and expectations. The shares dipped about 7% in response but remain up about 1% this year after gaining 14% in 4Q24 and 35% last year. 4Q results were strong and exceeded expectations in the advertising-supported business at Search and […]
Northlake’s Market Cap model flipped from mid cap to large cap for February. The model is picking up the potential for slowing economic growth and higher inflation from policies being put in place by the new administration. Either of these outcomes for the economy historically have led small and mid-cap stocks to underperform large cap. […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2025-02-13 16:13:462026-02-06 16:14:29Back to Large Cap as Trump Volatility Risk Rises
T Mobile USA (TMUS): We were a little nervous about TMUS heading into the company’s 4Q24 earnings report. Growth has slowed modestly, while AT&T and Verizon have seen improved growth. TMUS has been a great stock performer on a consistent trend of better-than-expected subscriber, revenue, operating profit, and free cash flow growth. In early December, […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2025-01-06 15:56:462026-02-06 15:57:424Q24 Earnings Updates: Part One – TMUS, IBM, META, and AAPL
Northlake’s models start 2025 favoring mid cap and growth. We have held mid cap for clients using our thematic models strategy since the beginning of August. The Market Cap model recommended small cap for December. However, we decided to go against the model and stick with mid cap awaiting more confirmation since we considered the […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2025-01-02 17:47:362025-01-02 17:47:36Shifting to Growth to Begin 2025
Both of Northlake’s models have been on the move over the past six months. At the start of August, the Market Cap model shifted from large cap to mid cap. At the start of May, the Style model shifted to neutral after a yearlong run of growth signals. These changes reflect continued strength in U.S. […]
Nexstar Media Group (NXST): NXST reported good 3Q24 earnings despite a shortfall in political advertising revenue. Political ended up flat with the 2020 Presidential cycle after expectations had been raised over the summer for growth. NXST offset the shortfall with improving results at the CW Network and good expense control. The shares initially rallied to […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2024-11-22 10:47:072024-11-22 10:47:073Q24 Earnings Updates: Part Two – NXST, SONY, HD, and WMT
IBM (IBM): IBM shares sold off following a mixed report for 3Q24. The selloff is mostly related to elevated expectations after the stock had doubled since October 2022, with over half of the gain coming since the start of 2024. Our original purchase of IBM just over five years ago was based on an investment […]
Shifting Back to Growth as Economic Outlook Weakens
Northlake’s Style model is recommending Growth again after two months with a neutral signal. The model is picking up on risks to the economic outlook caused by the chaotic implantation of large tariffs on friends and foes alike. Soft data based on surveys of businesses and consumers already reflect heightened recession risk. Economic data releases […]
No Changes to Northlake’s Models Amid Policy Change and Uncertainty
There are no changes to the recommendations from Northlake’s Market Cap and Style models for April. The Market Cap model continues to favor large cap and the Style model remains neutral on growth vs. value. We will not make any changes to client positions that follow our models and will hold the S&P 500 (SPY), […]
Back to Neutral on Style Amid Stock Market and Economic Data Volatility
After two months favoring growth, Northlake’s Style model shifted back to neutral for March. There is no change to the large cap signal from the Market Cap model that went into effect at the beginning of January. As a result of the new Style model signal, clients using Northlake’s model strategy will see half of […]
4Q24 Earnings Updates: Part Two – GOOG, DIS, SONY, WMT, VICI, HD, and NXST
Alphabet (GOOG/GOOGL): GOOG reported mixed results and guidance for 4Q24 and 1Q25 relative to Wall Street and expectations. The shares dipped about 7% in response but remain up about 1% this year after gaining 14% in 4Q24 and 35% last year. 4Q results were strong and exceeded expectations in the advertising-supported business at Search and […]
Back to Large Cap as Trump Volatility Risk Rises
Northlake’s Market Cap model flipped from mid cap to large cap for February. The model is picking up the potential for slowing economic growth and higher inflation from policies being put in place by the new administration. Either of these outcomes for the economy historically have led small and mid-cap stocks to underperform large cap. […]
4Q24 Earnings Updates: Part One – TMUS, IBM, META, and AAPL
T Mobile USA (TMUS): We were a little nervous about TMUS heading into the company’s 4Q24 earnings report. Growth has slowed modestly, while AT&T and Verizon have seen improved growth. TMUS has been a great stock performer on a consistent trend of better-than-expected subscriber, revenue, operating profit, and free cash flow growth. In early December, […]
Shifting to Growth to Begin 2025
Northlake’s models start 2025 favoring mid cap and growth. We have held mid cap for clients using our thematic models strategy since the beginning of August. The Market Cap model recommended small cap for December. However, we decided to go against the model and stick with mid cap awaiting more confirmation since we considered the […]
Economy and Improved Breadth Drive Latest Model Signals
Both of Northlake’s models have been on the move over the past six months. At the start of August, the Market Cap model shifted from large cap to mid cap. At the start of May, the Style model shifted to neutral after a yearlong run of growth signals. These changes reflect continued strength in U.S. […]
3Q24 Earnings Updates: Part Two – NXST, SONY, HD, and WMT
Nexstar Media Group (NXST): NXST reported good 3Q24 earnings despite a shortfall in political advertising revenue. Political ended up flat with the 2020 Presidential cycle after expectations had been raised over the summer for growth. NXST offset the shortfall with improving results at the CW Network and good expense control. The shares initially rallied to […]
3Q24 Earnings Updates: Part One – IBM, TMUS, GOOG/GOOGL, META, AAPL, VICI
IBM (IBM): IBM shares sold off following a mixed report for 3Q24. The selloff is mostly related to elevated expectations after the stock had doubled since October 2022, with over half of the gain coming since the start of 2024. Our original purchase of IBM just over five years ago was based on an investment […]