After sitting on a neutral reading for six months, Northlake’s Style model shifted to value for October. As a result, client positions in the Russell 1000 Growth (IWF) have been sold and the proceeds have been reinvested into the Russell 1000 Value (IWD). There is no change in the mid cap model coming from the […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2016-10-03 15:16:232026-03-17 16:52:39Style Model Moves to Value
There are no changes to Northlake’s models for September. Mid cap remains favored by the Market Cap model, while the Style model is still reading neutral. As a result, client positions following the models will remain invested in the S&P 400 Mid Cap (MDY), the Russell 1000 Growth (IWF), and the Russell 1000 Value (IWD). […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2016-09-01 16:28:342026-03-17 16:52:39Still Neutral on Growth vs. Value and favoring Mid Caps
MGM Resorts (MGM) reported a solid quarter with sales coming in slightly below consensus estimates and earnings that beat expectations due to progress on streamlining the business. The company received a meaningful one-time benefit from the sale of The Shops at Crystals, which it owned 50% of through a joint venture in CityCenter. We believe […]
Activision Blizzard (ATVI) reported a second straight quarter of sales, earnings, and forward guidance above consensus estimates. Strength in the quarter was largely attributed to the successful launch of Blizzard’s newest game, Overwatch, which already has over 15 million players globally. Continuing momentum across key franchises, signaled by strong pre-orders for the next expansions of […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Tim Fodorhttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifTim Fodor2016-08-10 16:27:132026-03-17 16:52:39Momentum Building at Activision Blizzard
Liberty Global (LBTYK) reported a slightly weaker than expected quarter, much as we expected. Admittedly, with rebased revenue growth of 4% and operating cash flow growth of 2%, the results were a bit less than our low expectations. But we always have thought that after a rough 12 months, 2Q16 would mark the low point […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2016-08-10 16:15:562026-03-17 16:52:39Expecting LBTYK to Rise from Here
Disney (DIS) reported slightly better than expected result for its 3Q16 driven by theme parks and the film studio. There were slight shortfalls vs consensus expectations at media networks and consumer products although there was no further deterioration in affiliate fee trends and subscriber losses at ESPN. It has been the worries about ESPN that […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2016-08-10 14:48:382026-03-17 16:52:39Disney Plays Offense in Disruptive TV Technologies
It was a quiet quarter at Liberty Media (LMCK) and Liberty Sirius (LSXMK) after the companies were spun off as tracking stocks from Liberty Media’s corporate holding company earlier this year. The good news is that the major assets held by each company performed well in the quarter. In addition, transactions completed on smaller assets […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2016-08-10 14:11:412026-03-17 16:52:39Quiet Quarters for Liberty Media and Liberty Sirius
There are no changes to the signals from Northlake’s Market Cap and Style models for August. The Market Cap model continues to recommend mid cap and the Style model remains on a neutral reading between growth and value. With no changes to this month’s signals, clients following the models will continue to own 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 Birenberg2016-08-01 14:33:402026-03-17 16:52:39Another Month at Mid Cap and Neutral on Growth vs. Value
CBS reported better than expected results for 2Q16, beating consensus estimates on both revenue and EPS. The upside came from the sales of owned content, especially the Star Trek to Netflix. Advertising growth at the CBS TV Network grew 2%, slightly below expectations for 3% growth. Wall Street is focusing on the advertising shortfall and […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2016-07-29 18:20:252026-03-17 16:52:39Sticking with CBS as Long-Term Growth Confidence Improves
Google (GOOG/GOOGL) reported better than expected 2Q16 results. Revenues grew 2% on a currency neutral basis, the best in four years, and several hundred basis points ahead of Wall Street expectations. EPS also surprised to the upside at $8.42 against expectations for $8.09 as tighter cost controls continue to be evident since the arrival of […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2016-07-29 16:38:002026-03-17 16:52:39Catch up Move Coming in Google After Good Quarter
Style Model Moves to Value
After sitting on a neutral reading for six months, Northlake’s Style model shifted to value for October. As a result, client positions in the Russell 1000 Growth (IWF) have been sold and the proceeds have been reinvested into the Russell 1000 Value (IWD). There is no change in the mid cap model coming from the […]
Still Neutral on Growth vs. Value and favoring Mid Caps
There are no changes to Northlake’s models for September. Mid cap remains favored by the Market Cap model, while the Style model is still reading neutral. As a result, client positions following the models will remain invested in the S&P 400 Mid Cap (MDY), the Russell 1000 Growth (IWF), and the Russell 1000 Value (IWD). […]
MGM Resorts Executing on Profit Growth Plan
MGM Resorts (MGM) reported a solid quarter with sales coming in slightly below consensus estimates and earnings that beat expectations due to progress on streamlining the business. The company received a meaningful one-time benefit from the sale of The Shops at Crystals, which it owned 50% of through a joint venture in CityCenter. We believe […]
Momentum Building at Activision Blizzard
Activision Blizzard (ATVI) reported a second straight quarter of sales, earnings, and forward guidance above consensus estimates. Strength in the quarter was largely attributed to the successful launch of Blizzard’s newest game, Overwatch, which already has over 15 million players globally. Continuing momentum across key franchises, signaled by strong pre-orders for the next expansions of […]
Expecting LBTYK to Rise from Here
Liberty Global (LBTYK) reported a slightly weaker than expected quarter, much as we expected. Admittedly, with rebased revenue growth of 4% and operating cash flow growth of 2%, the results were a bit less than our low expectations. But we always have thought that after a rough 12 months, 2Q16 would mark the low point […]
Disney Plays Offense in Disruptive TV Technologies
Disney (DIS) reported slightly better than expected result for its 3Q16 driven by theme parks and the film studio. There were slight shortfalls vs consensus expectations at media networks and consumer products although there was no further deterioration in affiliate fee trends and subscriber losses at ESPN. It has been the worries about ESPN that […]
Quiet Quarters for Liberty Media and Liberty Sirius
It was a quiet quarter at Liberty Media (LMCK) and Liberty Sirius (LSXMK) after the companies were spun off as tracking stocks from Liberty Media’s corporate holding company earlier this year. The good news is that the major assets held by each company performed well in the quarter. In addition, transactions completed on smaller assets […]
Another Month at Mid Cap and Neutral on Growth vs. Value
There are no changes to the signals from Northlake’s Market Cap and Style models for August. The Market Cap model continues to recommend mid cap and the Style model remains on a neutral reading between growth and value. With no changes to this month’s signals, clients following the models will continue to own the S&P […]
Sticking with CBS as Long-Term Growth Confidence Improves
CBS reported better than expected results for 2Q16, beating consensus estimates on both revenue and EPS. The upside came from the sales of owned content, especially the Star Trek to Netflix. Advertising growth at the CBS TV Network grew 2%, slightly below expectations for 3% growth. Wall Street is focusing on the advertising shortfall and […]
Catch up Move Coming in Google After Good Quarter
Google (GOOG/GOOGL) reported better than expected 2Q16 results. Revenues grew 2% on a currency neutral basis, the best in four years, and several hundred basis points ahead of Wall Street expectations. EPS also surprised to the upside at $8.42 against expectations for $8.09 as tighter cost controls continue to be evident since the arrival of […]