CBS Corporation (CBS) reported slightly better than expected March quarter results. It was not enough to turn the recently negative sentiment in the shares, however. The day after the report CBS closed down a little over 2% after falling nearing 5%. Year-to-date CBS is down 11% despite good earnings, positive news on capital allocation, and […]
Liberty Media (LMCA) had a quiet March quarter earnings report. Earnings do not really matter to LMCA as the stock trades relative to its asset value. As a reminder about 2/3rds of the asset value is a 51% stake in Sirius XM (SIRI). Another 25% is a 26% stake in Charter Communications (CHTR). The other […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2014-05-09 13:54:202026-03-17 16:53:42Quiet Quarter at Liberty Media
Liberty Global (LBTYK) reported improved March quarter earnings after several expected but slower growth quarters. What LBTYK calls rebased revenue grew 2.3% just slightly below estimates of 3%. The upside surprise came in operating cash flow which saw rebased growth of 6%, well ahead of consensus for 4%. An investment cycle, cost related to several […]
Discovery Communications (DISCK) reported a slightly disappointing March quarter results. Most of the miss was not at the domestic or international cable networks. However, investors are treating the stock harshly even after poor year-to-date performance. In hindsight, I should have sold DISCK when the company went on its European acquisition spree as it was out […]
Disney (DIS) reported a big beat to March quarter earnings expectations with EPS of $1.11 vs. consensus of 96 cents. Revenues also were ahead of expectations at $11.65 billion vs. estimates of $11.23 billion. The primary driver of the upside was the film studio but strength was pretty much across the board with exception of […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2014-05-07 12:41:032026-03-17 16:53:42Content Engine Driving Disney to Great Heights
There were no changes in Northlake’s Market Cap or Style models for May. The Market Cap model continues to recommend mid cap and the Style model still favors value. With no changes for May, client positions in the S&P 400 Mid Cap (MDY) and the Russell 1000 Value (IWD) will be held for at least […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2014-05-02 10:22:342026-03-17 16:53:42Value and Mid Caps Still in Favor
I have been a nervous long on Qualcomm (QCOM) for the last six months. Earnings growth has slowed and competitive pressures might mean that will continue over the next few years. The stock continued to hold up well and even had rallied this year to all-time years, however. Unfortunately, the shares are giving back about […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2014-04-24 14:03:122026-03-17 16:53:42Remaining A Little Nervously Long Qualcomm
Apple reported its best quarter with revenues, earnings, profit margins, and iPhone sales all easily exceeding Wall Street estimates. In addition, the company materially increased its share buyback program, raised the dividend by 8%, and announced a 7 for 1 stock split effective in June. Finally, guidance was within an acceptable range with revenues a […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2014-04-24 13:25:322026-03-17 16:53:42Finally A Good Quarter for Apple
Comcast (CMCSK) reported better than expected 1Q14 earnings. The upside came from NBC Universal, a good thing given the magnitude of the financial upside in a successful turnaround,. However, Comcast financial performance and stock sentiment is driven more by the much larger cable business. On that side of the company, results were very slightly disappointing […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2014-04-23 11:32:492026-03-17 16:53:42Comcast Remains a Very Best Idea
Google (GOOG) reported earnings that slightly trailed Wall Street estimates. The stock has reacted poorly even though the company did a good job explaining the quarter and spoke very confidently about the business and long-term strategy on the quarterly conference call. It is worth noting that GOOG provides very little guidance to Wall Street analysts […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2014-04-22 10:32:582026-03-17 16:53:42Sloppy Quarter After Stock Slide Keeps Pressure on Google
CBS Healthy Despite Share Turbulence
CBS Corporation (CBS) reported slightly better than expected March quarter results. It was not enough to turn the recently negative sentiment in the shares, however. The day after the report CBS closed down a little over 2% after falling nearing 5%. Year-to-date CBS is down 11% despite good earnings, positive news on capital allocation, and […]
Quiet Quarter at Liberty Media
Liberty Media (LMCA) had a quiet March quarter earnings report. Earnings do not really matter to LMCA as the stock trades relative to its asset value. As a reminder about 2/3rds of the asset value is a 51% stake in Sirius XM (SIRI). Another 25% is a 26% stake in Charter Communications (CHTR). The other […]
Liberty Global Growth Acceleration Beginning
Liberty Global (LBTYK) reported improved March quarter earnings after several expected but slower growth quarters. What LBTYK calls rebased revenue grew 2.3% just slightly below estimates of 3%. The upside surprise came in operating cash flow which saw rebased growth of 6%, well ahead of consensus for 4%. An investment cycle, cost related to several […]
Discovery Communications Ride Gets Even Bumpier
Discovery Communications (DISCK) reported a slightly disappointing March quarter results. Most of the miss was not at the domestic or international cable networks. However, investors are treating the stock harshly even after poor year-to-date performance. In hindsight, I should have sold DISCK when the company went on its European acquisition spree as it was out […]
Content Engine Driving Disney to Great Heights
Disney (DIS) reported a big beat to March quarter earnings expectations with EPS of $1.11 vs. consensus of 96 cents. Revenues also were ahead of expectations at $11.65 billion vs. estimates of $11.23 billion. The primary driver of the upside was the film studio but strength was pretty much across the board with exception of […]
Value and Mid Caps Still in Favor
There were no changes in Northlake’s Market Cap or Style models for May. The Market Cap model continues to recommend mid cap and the Style model still favors value. With no changes for May, client positions in the S&P 400 Mid Cap (MDY) and the Russell 1000 Value (IWD) will be held for at least […]
Remaining A Little Nervously Long Qualcomm
I have been a nervous long on Qualcomm (QCOM) for the last six months. Earnings growth has slowed and competitive pressures might mean that will continue over the next few years. The stock continued to hold up well and even had rallied this year to all-time years, however. Unfortunately, the shares are giving back about […]
Finally A Good Quarter for Apple
Apple reported its best quarter with revenues, earnings, profit margins, and iPhone sales all easily exceeding Wall Street estimates. In addition, the company materially increased its share buyback program, raised the dividend by 8%, and announced a 7 for 1 stock split effective in June. Finally, guidance was within an acceptable range with revenues a […]
Comcast Remains a Very Best Idea
Comcast (CMCSK) reported better than expected 1Q14 earnings. The upside came from NBC Universal, a good thing given the magnitude of the financial upside in a successful turnaround,. However, Comcast financial performance and stock sentiment is driven more by the much larger cable business. On that side of the company, results were very slightly disappointing […]
Sloppy Quarter After Stock Slide Keeps Pressure on Google
Google (GOOG) reported earnings that slightly trailed Wall Street estimates. The stock has reacted poorly even though the company did a good job explaining the quarter and spoke very confidently about the business and long-term strategy on the quarterly conference call. It is worth noting that GOOG provides very little guidance to Wall Street analysts […]