Facebook (FB) reported another strong quarter with EPS reaching 97 cents against estimates of 81 cents. Revenue surprised to the upside by over $400mm, driving operating leverage as margins expanded by more almost 500 basis points. User metrics were a little better than expected with daily and monthly active users still growing. Given that 1.7 […]
It seems like everywhere you turn there is talk about cord cutting and cable losing subscribers. Well, guess what? For now at least, the narrative is false, especially at Comcast. Comcast lost just 4,000 video subs in the seasonally weak second quarter against expectations for a loss of 31,000. This was the best second quarter […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2016-07-27 17:54:572026-03-17 16:52:47About The Death of Cable…Comcast Proving Otherwise
Apple (AAPL) reported mostly inline results for its 3Q16 report. Slight upside existed across most key financial and unit volume metrics. Guidance for the current quarter ending 9/30/16 was similar. Given recent sentiment surrounding AAPL, this was good enough to allow the shares to rebound in their initial response to the report, up 7-8%. AAPL […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2016-07-27 14:45:072026-03-17 16:52:47Stabilization at Apple Good Enough For Now
Northlake is taking partial profits in Activision Blizzard (ATVI) after the shares have doubled since the initial purchase in November 2014. The outstanding performance of ATVI against minimal change in the broader market led to position sizes up to 2X what Northlake usually targets. Northlake still likes ATVI and sees upside to the upper $40s […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2016-07-15 19:20:202026-03-17 16:52:47From Video to Casino Games
EMAILED: 6/24/2016 11:20AM Central: Recognizing markets move quickly and that can make opinions change, here are some of Northlake’s thoughts this morning after Leave wins the UK referendum: Uncertainty. It is an old adage but the fact is that Wall Street dislikes it. Brexit creates a lot of uncertainty as there really has never been […]
There were no changes to the recommendations from Northlake’s models for July. The Market Cap model still favors Mid Cap and the Style model remains in neutral mode. As a result, there will be no changes to the ETF holdings in client portfolios. The Market Cap model will continue to be represented by 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 Birenberg2016-07-01 14:17:532026-03-17 16:52:47No Changes for July : Mid Cap and Neutral on Growth/Value Still In Play
There are no changes to the recommendations from Northlake’s Market Cap and Style models June. The Market Cap model is recommending Mid Cap for a second consecutive month, while the Style model remains on a neutral reading for the third consecutive month. With no changes to the signals, client positions following the Market Cap model […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2016-06-01 16:28:012026-03-17 16:52:47Remain Neutral on Growth/Value and Favor Mid Cap for June
CBS reported a good quarter beating consensus EPS estimates comfortably with small upside in revenues. The implication is good performance on profit margins and that was indeed the case especially in the core entertainment assets (CBS Network and content production) and the local TV stations. Advertising drove the upside, with a gain of 31% exceeding […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2016-05-11 19:03:182026-03-17 16:52:47Smooth Sailing At CBS
Disney (DIS) reported a rare miss on sales and earnings in the fiscal second quarter of 2016. The disappointing results were driven by weakness in the consumer products and media networks segments. The studio segment continued to produce excellent results, driven by Zootopia in the quarter. Parks and resorts also performed well in the quarter, […]
Liberty Global (LBTYK) reported slightly disappointing 1Q16 earnings. However, the 2016 was maintained and the long-term story is intact. Management made a strong case that any shortfalls were not unexpected based on internal budgeting and investors and analysts seemed to buy it as the shares finished positive after starting lower in response to the headlines. […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2016-05-11 15:52:042026-03-17 16:52:47Liberty Global On Track Despite Weak Start to Year
Another Blowout Quarter for Facebook
Facebook (FB) reported another strong quarter with EPS reaching 97 cents against estimates of 81 cents. Revenue surprised to the upside by over $400mm, driving operating leverage as margins expanded by more almost 500 basis points. User metrics were a little better than expected with daily and monthly active users still growing. Given that 1.7 […]
About The Death of Cable…Comcast Proving Otherwise
It seems like everywhere you turn there is talk about cord cutting and cable losing subscribers. Well, guess what? For now at least, the narrative is false, especially at Comcast. Comcast lost just 4,000 video subs in the seasonally weak second quarter against expectations for a loss of 31,000. This was the best second quarter […]
Stabilization at Apple Good Enough For Now
Apple (AAPL) reported mostly inline results for its 3Q16 report. Slight upside existed across most key financial and unit volume metrics. Guidance for the current quarter ending 9/30/16 was similar. Given recent sentiment surrounding AAPL, this was good enough to allow the shares to rebound in their initial response to the report, up 7-8%. AAPL […]
From Video to Casino Games
Northlake is taking partial profits in Activision Blizzard (ATVI) after the shares have doubled since the initial purchase in November 2014. The outstanding performance of ATVI against minimal change in the broader market led to position sizes up to 2X what Northlake usually targets. Northlake still likes ATVI and sees upside to the upper $40s […]
Thoughts on Brexit
EMAILED: 6/24/2016 11:20AM Central: Recognizing markets move quickly and that can make opinions change, here are some of Northlake’s thoughts this morning after Leave wins the UK referendum: Uncertainty. It is an old adage but the fact is that Wall Street dislikes it. Brexit creates a lot of uncertainty as there really has never been […]
No Changes for July : Mid Cap and Neutral on Growth/Value Still In Play
There were no changes to the recommendations from Northlake’s models for July. The Market Cap model still favors Mid Cap and the Style model remains in neutral mode. As a result, there will be no changes to the ETF holdings in client portfolios. The Market Cap model will continue to be represented by the S&P […]
Remain Neutral on Growth/Value and Favor Mid Cap for June
There are no changes to the recommendations from Northlake’s Market Cap and Style models June. The Market Cap model is recommending Mid Cap for a second consecutive month, while the Style model remains on a neutral reading for the third consecutive month. With no changes to the signals, client positions following the Market Cap model […]
Smooth Sailing At CBS
CBS reported a good quarter beating consensus EPS estimates comfortably with small upside in revenues. The implication is good performance on profit margins and that was indeed the case especially in the core entertainment assets (CBS Network and content production) and the local TV stations. Advertising drove the upside, with a gain of 31% exceeding […]
Disney: Consumer Products Frozen, ESPN Melting
Disney (DIS) reported a rare miss on sales and earnings in the fiscal second quarter of 2016. The disappointing results were driven by weakness in the consumer products and media networks segments. The studio segment continued to produce excellent results, driven by Zootopia in the quarter. Parks and resorts also performed well in the quarter, […]
Liberty Global On Track Despite Weak Start to Year
Liberty Global (LBTYK) reported slightly disappointing 1Q16 earnings. However, the 2016 was maintained and the long-term story is intact. Management made a strong case that any shortfalls were not unexpected based on internal budgeting and investors and analysts seemed to buy it as the shares finished positive after starting lower in response to the headlines. […]