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After two consecutive quarters of improved results and a positive analyst meeting earlier this month, IBM’s 3Q21 earnings were disappointing. Revenues fell slightly short of estimates, and after adjusting for…
There are no changes to the recommendations from Northlake’s Market Cap and Style models for October. The models continue to favor large cap and remain neutral on growth vs. value. …
Northlake’s Market Cap model has been trending toward large cap for several months and the latest update confirmed a new recommendation in favor of the S&P 500. As a result,…
Surprisingly to Northlake, intermediate and long-term interest rates have fallen slightly over the last several months. We had been anticipating higher rates as the economy emerged from COVID impacts, inflation…
Home Depot (HD) reported solid 2Q21 results with same store sales growing in-line with expectations and earnings ahead of consensus estimates. HD chose not to provide guidance given uncertainty related…
Disney (DIS) reported FY 3Q21 results that were better than expected for both financial metrics and subscriber additions. Long-term guidance was not updated since DIS is in the process of…
Sony (SONY) reported better than expected 1Q22 earnings and raised full-year guidance. We had thought that guidance was conservative, both short-term and long-term, so the news was not surprising. It…
Nexstar Media Group (NXST) reported another in a string of excellent quarterly earnings reports. Revenue and EBITDA exceeded management guidance and the company raised the all-important annual free cash flow…
Activision Blizzard (ATVI) reported a much-needed beat-and-raise quarter. Strength was broad-based with Call of Duty, Candy Crush, and World of Warcraft all exceeding expectations. Management raised 2021 guidance to reflect…
Northlake’s Style model shifted from Value to Neutral. For clients with allocations to the model, we are selling one half of the holding in the Russell 1000 Value (IWD) and…
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