There are no changes to the recommendations from Northlake’s Market Cap and Style models following the November update. The Market Cap model favors Mid Cap for the 4th consecutive month and the Style model remains neutral on growth vs value for the sixth straight month. This type of consistency is typical as the models are […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2024-11-01 09:30:312024-11-01 09:30:31Another Month in Favor of Mid Cap and Neutrality on Growth vs. Value
International Business Machines (IBM): IBM reported a good quarter with nice upside on the all-important free cash flow. Guidance was also good with free cash flow again surprising positively. The stock responded very well to the earnings report, mostly because management noted another big acceleration in orders related to artificial intelligence. As a reminder, IBM […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2024-02-01 15:37:302024-02-01 15:37:304Q23 Earnings Updates: Part One – IBM, TMUS, and GOOG/GOOGL
There are no changes to the recommendations from Northlake’s Market Cap or Style model to start 2024. We are sticking with Mid Cap and Growth. Client positions following the models will continue to own the S&P 400 Mid Cap (MDY) and the Russell 1000 Growth (IWF) for at least another month. There is underlying movement […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2024-01-02 20:05:132024-01-02 20:05:13Sticking With Mid Cap and Growth While Watching Improved Breadth
Northlake’s Market Cap model flipped from Large Cap to Mid Cap for December. Client positions following the model sold holdings in the S&P 500 (SPY) and reinvested the proceeds in the S&P 400 Mid Cap (MDY). Clients using thematic strategies but not our models already have exposure to mid and small cap through core positions […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2023-12-04 18:55:202023-12-04 18:55:20Moving back to Mid Cap to End 2023
Apple (AAPL): AAPL 4Q23 earnings and 1Q24 guidance were mixed. The shares are down 1% in a very strong market following the report. 4Q23 results were in line on revenue and ahead on EPS with iPhone sales holding up and Services coming in ahead. Other hardware including Macs, iPads, and Wearables were weak. Good cost […]
Northlake’s Market Cap and Style models again favor large cap and growth for November. As a result, client portfolios that use the models will continue to own the S&P 500 (SPY) and the Russell 1000 Growth (IWF) for at least another month. Clients using thematic strategies but not Northlake’s models have exposure to large cap […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2023-11-02 19:16:422023-11-02 19:16:42Models Favor Large Cap and Growth Again, but Mid Cap Could Be Next
Alphabet (GOOG/GOOGL): GOOGL reported mixed results for 3Q23. The two dominant businesses, Search and YouTube, had better-than-expected revenue growth as advertising accelerated ahead of high expectations. On the downside, Cloud revenue grew more slowly than expected, up 22%, with management alluding to cloud spending optimization that has previously tripped up Microsoft Azure and Amazon AWS, […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2023-10-31 04:37:302023-10-31 04:37:303Q23 Earnings Updates: Part One – GOOG/GOOGL, TMUS, META, IBM, and VICI
After a rough stretch for small cap stocks, Northlake’s Market Cap model shifted from mid cap to large cap. The change was driven mostly by technical and trend indicators that took their cue from the underperformance of small cap stocks in the August and September correction. The external indicators were less decisive, but one factor […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2023-10-03 16:11:472023-10-03 16:11:47Market Correction and Higher Interest Rates Trigger Shift to Large Cap
There are no changes to the recommendations from Northlake’s Market Cap and Style models for September. The Market Cap model favors mid cap for the third straight month, while the Style model is recommending growth for the sixth consecutive month. Client positions that follow the models will remain invested 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 Birenberg2023-09-01 15:06:452023-09-01 15:06:45Models Stick with Mid Cap and Growth Despite Market Volatility
Activision Blizzard (ATVI): ATVI reported strong 2Q23 results well ahead of analyst consensus. A good launch for the latest Diablo game, ongoing strength in King mobile games, and steady results for Call of Duty and World of Warcraft led to the positive quarter. Analyst estimates moved up for 2023 but less for 2024. The more […]
Another Month in Favor of Mid Cap and Neutrality on Growth vs. Value
There are no changes to the recommendations from Northlake’s Market Cap and Style models following the November update. The Market Cap model favors Mid Cap for the 4th consecutive month and the Style model remains neutral on growth vs value for the sixth straight month. This type of consistency is typical as the models are […]
4Q23 Earnings Updates: Part One – IBM, TMUS, and GOOG/GOOGL
International Business Machines (IBM): IBM reported a good quarter with nice upside on the all-important free cash flow. Guidance was also good with free cash flow again surprising positively. The stock responded very well to the earnings report, mostly because management noted another big acceleration in orders related to artificial intelligence. As a reminder, IBM […]
Sticking With Mid Cap and Growth While Watching Improved Breadth
There are no changes to the recommendations from Northlake’s Market Cap or Style model to start 2024. We are sticking with Mid Cap and Growth. Client positions following the models will continue to own the S&P 400 Mid Cap (MDY) and the Russell 1000 Growth (IWF) for at least another month. There is underlying movement […]
Moving back to Mid Cap to End 2023
Northlake’s Market Cap model flipped from Large Cap to Mid Cap for December. Client positions following the model sold holdings in the S&P 500 (SPY) and reinvested the proceeds in the S&P 400 Mid Cap (MDY). Clients using thematic strategies but not our models already have exposure to mid and small cap through core positions […]
3Q23 Earnings Updates: Part Two – AAPL, NXST, DIS, SONY, HD, and WMT
Apple (AAPL): AAPL 4Q23 earnings and 1Q24 guidance were mixed. The shares are down 1% in a very strong market following the report. 4Q23 results were in line on revenue and ahead on EPS with iPhone sales holding up and Services coming in ahead. Other hardware including Macs, iPads, and Wearables were weak. Good cost […]
Models Favor Large Cap and Growth Again, but Mid Cap Could Be Next
Northlake’s Market Cap and Style models again favor large cap and growth for November. As a result, client portfolios that use the models will continue to own the S&P 500 (SPY) and the Russell 1000 Growth (IWF) for at least another month. Clients using thematic strategies but not Northlake’s models have exposure to large cap […]
3Q23 Earnings Updates: Part One – GOOG/GOOGL, TMUS, META, IBM, and VICI
Alphabet (GOOG/GOOGL): GOOGL reported mixed results for 3Q23. The two dominant businesses, Search and YouTube, had better-than-expected revenue growth as advertising accelerated ahead of high expectations. On the downside, Cloud revenue grew more slowly than expected, up 22%, with management alluding to cloud spending optimization that has previously tripped up Microsoft Azure and Amazon AWS, […]
Market Correction and Higher Interest Rates Trigger Shift to Large Cap
After a rough stretch for small cap stocks, Northlake’s Market Cap model shifted from mid cap to large cap. The change was driven mostly by technical and trend indicators that took their cue from the underperformance of small cap stocks in the August and September correction. The external indicators were less decisive, but one factor […]
Models Stick with Mid Cap and Growth Despite Market Volatility
There are no changes to the recommendations from Northlake’s Market Cap and Style models for September. The Market Cap model favors mid cap for the third straight month, while the Style model is recommending growth for the sixth consecutive month. Client positions that follow the models will remain invested in the S&P 400 Mid Cap […]
2Q23 Earnings Updates: Part Two – ATVI, AAPL, NXST, SONY, DIS, HD, and WMT
Activision Blizzard (ATVI): ATVI reported strong 2Q23 results well ahead of analyst consensus. A good launch for the latest Diablo game, ongoing strength in King mobile games, and steady results for Call of Duty and World of Warcraft led to the positive quarter. Analyst estimates moved up for 2023 but less for 2024. The more […]