The Wall Street Journal is reporting that Disney (DIS) is putting expansion of its Hong Kong theme park on hold and laying off the employees involved in developing the expansion plans. The Hong Kong Park has been a disappointment almost from the day the gates opened. DIS owns it in partnership with the Hong Kong […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2009-03-19 10:01:052026-03-17 16:56:52Disney Scraps Hong Kong Park Expansion to Shift Focus to Shanghai?
My friend and fellow money manager, Scott Rothbort, noted on SeekingAlpha.com that euro strength is bullish. I think he is right. The euro is over $1.21 today, the highest since mid-February. The euro is also at a multi-month high vs. the yen. A chart of the euro/USD looks an awful lot like the S&P 500 […]
In February, following release of DirecTV’s (DTV) 4Q08 results, I wrote several favorable comments about DTV on RealMoney.com. I followed up by publishing the following commentary which discusses Liberty Media Entertainment (LMDIA) as an attractive backdoor play to purchase DTV at a substantial discount. With SeekingAlpha.com publishing an article from Bullish Bankers discussing Liberty Media […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2009-03-16 11:33:052026-03-17 16:56:52The Backdoor Way to Play DirecTV
For the first time since late December the weekend box office fell on a year-over-year basis. Weekend receipts for the top 12 films were $89.2 million according to BoxOfficeMojo.com, a drop of 15.8% from a year ago. The box office is still up 12% this year, a better than expected performance. Next week provides another […]
Time Warner (TWX) has hired one of Google’s most senior executives to run AOL. Tim Armstrong was a member of Google’s Operating Committee and President of Americas Operations. Armstrong also has a background in traditional media including developing internet properties at traditional media companies. Armstrong is undoubtedly totally loaded due to his 8 plus years […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2009-03-13 08:44:012026-03-17 16:56:52Why Would a Senior Google Exec Leave for AOL?
I have pointed out repeatedly that media stocks are suffering a two pronged assault from cyclical and secular challenges. Making matters worse is that the cyclical downturn in the economy might be accelerating secular trends. Investors certainly believe this as evidenced by the combination of falling near-term and long-term estimates and a drop in relative […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2009-03-12 14:05:272026-03-17 16:56:52We’re Still Watching TV The Old-Fashioned Way
Bloomberg is reporting a March 17th event to provide a “sneak peak” at new iPhone software, version 3.0. The company introduced a new, next generation shuffle and is now updating iPhone software (the iPhone is all about software). This is being done with Steve Jobs nowhere to be seen and without a rollout at MacWorld. […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2009-03-12 11:34:252026-03-17 16:56:52Life at Apple Continues Sans Jobs
Pali Research is out with a new report on NII Holdings (NIHD). They are reiterating their buy and establishing a $25 price target. The cut estimates further and moved below management guidance but attributed 90% of the reduction to further weakening in the Mexican Peso. In my recent update on NIHD, I explained that underlying […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2009-03-11 14:45:222026-03-17 16:56:52Technology Risk at NII Holdings
The Weekend box office continued its year long win streak but for the second consecutive weekend there was a disappointment from a highly anticipated film. Led by Watchmen, the box office rose 12.7% according to BoxOfficeMojo.com. Every weekend since late December is positive and year-to-date total receipts for the North American box office are up […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2009-03-10 14:43:382026-03-17 16:56:52Time Warner is Watching Watchmen
NII Holdings (NIHD) reported 4Q08 results and provided 2009 guidance at the end of February. I thought the 4Q figures were quite good considering the economic environment but the stock sold off sharply due to guidance that was below estimates. However, the guidance miss was due to foreign currency, in particular, the weakness of the […]
Disney Scraps Hong Kong Park Expansion to Shift Focus to Shanghai?
The Wall Street Journal is reporting that Disney (DIS) is putting expansion of its Hong Kong theme park on hold and laying off the employees involved in developing the expansion plans. The Hong Kong Park has been a disappointment almost from the day the gates opened. DIS owns it in partnership with the Hong Kong […]
Dollar Weakness is Bullish
My friend and fellow money manager, Scott Rothbort, noted on SeekingAlpha.com that euro strength is bullish. I think he is right. The euro is over $1.21 today, the highest since mid-February. The euro is also at a multi-month high vs. the yen. A chart of the euro/USD looks an awful lot like the S&P 500 […]
The Backdoor Way to Play DirecTV
In February, following release of DirecTV’s (DTV) 4Q08 results, I wrote several favorable comments about DTV on RealMoney.com. I followed up by publishing the following commentary which discusses Liberty Media Entertainment (LMDIA) as an attractive backdoor play to purchase DTV at a substantial discount. With SeekingAlpha.com publishing an article from Bullish Bankers discussing Liberty Media […]
Box Office Winning Streak Ends
For the first time since late December the weekend box office fell on a year-over-year basis. Weekend receipts for the top 12 films were $89.2 million according to BoxOfficeMojo.com, a drop of 15.8% from a year ago. The box office is still up 12% this year, a better than expected performance. Next week provides another […]
Why Would a Senior Google Exec Leave for AOL?
Time Warner (TWX) has hired one of Google’s most senior executives to run AOL. Tim Armstrong was a member of Google’s Operating Committee and President of Americas Operations. Armstrong also has a background in traditional media including developing internet properties at traditional media companies. Armstrong is undoubtedly totally loaded due to his 8 plus years […]
We’re Still Watching TV The Old-Fashioned Way
I have pointed out repeatedly that media stocks are suffering a two pronged assault from cyclical and secular challenges. Making matters worse is that the cyclical downturn in the economy might be accelerating secular trends. Investors certainly believe this as evidenced by the combination of falling near-term and long-term estimates and a drop in relative […]
Life at Apple Continues Sans Jobs
Bloomberg is reporting a March 17th event to provide a “sneak peak” at new iPhone software, version 3.0. The company introduced a new, next generation shuffle and is now updating iPhone software (the iPhone is all about software). This is being done with Steve Jobs nowhere to be seen and without a rollout at MacWorld. […]
Technology Risk at NII Holdings
Pali Research is out with a new report on NII Holdings (NIHD). They are reiterating their buy and establishing a $25 price target. The cut estimates further and moved below management guidance but attributed 90% of the reduction to further weakening in the Mexican Peso. In my recent update on NIHD, I explained that underlying […]
Time Warner is Watching Watchmen
The Weekend box office continued its year long win streak but for the second consecutive weekend there was a disappointment from a highly anticipated film. Led by Watchmen, the box office rose 12.7% according to BoxOfficeMojo.com. Every weekend since late December is positive and year-to-date total receipts for the North American box office are up […]
NII Holdings: Business Holding Up, Stock Going Down
NII Holdings (NIHD) reported 4Q08 results and provided 2009 guidance at the end of February. I thought the 4Q figures were quite good considering the economic environment but the stock sold off sharply due to guidance that was below estimates. However, the guidance miss was due to foreign currency, in particular, the weakness of the […]