Central European Media Enterprises (CETV) shares sold off heavily last Tuesday, dropping over 10% mid-day and closing down about 7% to set a new 52 week low. A number of factors are at work: worries about Russia’s intentions towards Ukraine, dollar strength, emerging market GDP worries, lousy emerging market stock markets, fears about an expensive […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2008-08-21 08:05:172026-03-17 16:57:50CETV Trades Down Then Gets An Upgrade
It’s been awhile since I provided an update on the domestic summer box office. Relative to my initial expectations it continues to shape up well. Since the first weekend in May, Hollywood’s official start to summer, the box office is unchanged from 2007’s all-time record. Given my expectations, including particularly tough comparisons in July and […]
One of Northlake’s biggest portfolio headaches is a lot better today. Pain relief came in the form of very solid quarter from American Apparel (APP). 2Q results were inline to a bit better than the few analyst estimates. Revenues of $133 million exceeded the estimate of $126 million. EPS of 10 cents matched estimates despite […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2008-08-15 15:03:042026-03-17 16:57:50Normalcy Accompanies Growth and American Apparel Bounces Back
Today’s New York Times had a good article explaining why the lending availability is drying up in the US. This is a very important point for the near-term market and economic outlook. Our economy requires easily available credit to function near maximum efficiency. Credit availability went over the top in the past few years expanding […]
Following completion of Time Warner’s 2Q08 conference call I purchased the stock widely across the Northlake client base and in my personal accounts. The purchase is based on my new, more bullish view of the company’s prospects over the next 12 months. TWX finally seems to be emerging from a prolonged period of restructuring and […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2008-08-06 16:38:302026-03-17 16:57:50New Purchase: Time Warner
I sold all client and personal positions in Dreamworks Animation (DWA) on Tuesday after it had rebounded from overzealous selling following its own 2Q08 report. The sale of DWA was a result of my trading thesis falling apart when the company indicated that higher than expected international marketing costs would take away the earnings upside […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2008-08-06 15:42:372026-03-17 16:57:50The Dream Is Over
Central European Media Enterprises (CETV) remains my favorite media stock for all time horizons. Despite my enthusiasm the shares have performed poorly this year. Although, within the media stock universe, the 20% drop since June is not unusual. Neither is the 36% decline from the 52 week high. However, there is one big difference. CETV […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2008-08-02 14:32:442026-03-17 16:57:50Why Is CETV Struggling When I Think It Will Double
Once again there were no changes to Northlake’s monthly Market Cap and Style models. The Market Cap signal remains mid cap and the Style signal remains growth. As a result, Northlake continues to own the S&P 400 (MDY) and the Russell 1000 Growth (IWF) for assets devoted to this strategy. The Market Cap model remains […]
I am working a longer comment on CETV, probably to be posted on Monday, but given the crazy trading following yesterday’s earnings report and conference call I wanted to offer some brief insights. The quarter was good, better than consensus and matching the very highest estimates which included my own. Romania and Croatia were across […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2008-07-31 08:51:432026-03-17 16:57:50Good Results, Bad Trading at CETV
My thesis on Dreamworks Animation fell apart when the company reported 2Q results after the close on Tuesday. While I understand the 10% decline in the stock, I think it is overdone and actually leaves value in the shares ahead of catalysts that are coming but not until October and November. The problem is there […]
CETV Trades Down Then Gets An Upgrade
Central European Media Enterprises (CETV) shares sold off heavily last Tuesday, dropping over 10% mid-day and closing down about 7% to set a new 52 week low. A number of factors are at work: worries about Russia’s intentions towards Ukraine, dollar strength, emerging market GDP worries, lousy emerging market stock markets, fears about an expensive […]
Summer Box Office Update: Better Than Expected But…
It’s been awhile since I provided an update on the domestic summer box office. Relative to my initial expectations it continues to shape up well. Since the first weekend in May, Hollywood’s official start to summer, the box office is unchanged from 2007’s all-time record. Given my expectations, including particularly tough comparisons in July and […]
Normalcy Accompanies Growth and American Apparel Bounces Back
One of Northlake’s biggest portfolio headaches is a lot better today. Pain relief came in the form of very solid quarter from American Apparel (APP). 2Q results were inline to a bit better than the few analyst estimates. Revenues of $133 million exceeded the estimate of $126 million. EPS of 10 cents matched estimates despite […]
The Credit Market Problem
Today’s New York Times had a good article explaining why the lending availability is drying up in the US. This is a very important point for the near-term market and economic outlook. Our economy requires easily available credit to function near maximum efficiency. Credit availability went over the top in the past few years expanding […]
New Purchase: Time Warner
Following completion of Time Warner’s 2Q08 conference call I purchased the stock widely across the Northlake client base and in my personal accounts. The purchase is based on my new, more bullish view of the company’s prospects over the next 12 months. TWX finally seems to be emerging from a prolonged period of restructuring and […]
The Dream Is Over
I sold all client and personal positions in Dreamworks Animation (DWA) on Tuesday after it had rebounded from overzealous selling following its own 2Q08 report. The sale of DWA was a result of my trading thesis falling apart when the company indicated that higher than expected international marketing costs would take away the earnings upside […]
Why Is CETV Struggling When I Think It Will Double
Central European Media Enterprises (CETV) remains my favorite media stock for all time horizons. Despite my enthusiasm the shares have performed poorly this year. Although, within the media stock universe, the 20% drop since June is not unusual. Neither is the 36% decline from the 52 week high. However, there is one big difference. CETV […]
August 2008 Model Signals
Once again there were no changes to Northlake’s monthly Market Cap and Style models. The Market Cap signal remains mid cap and the Style signal remains growth. As a result, Northlake continues to own the S&P 400 (MDY) and the Russell 1000 Growth (IWF) for assets devoted to this strategy. The Market Cap model remains […]
Good Results, Bad Trading at CETV
I am working a longer comment on CETV, probably to be posted on Monday, but given the crazy trading following yesterday’s earnings report and conference call I wanted to offer some brief insights. The quarter was good, better than consensus and matching the very highest estimates which included my own. Romania and Croatia were across […]
Dreamworks Thesis Falls Apart
My thesis on Dreamworks Animation fell apart when the company reported 2Q results after the close on Tuesday. While I understand the 10% decline in the stock, I think it is overdone and actually leaves value in the shares ahead of catalysts that are coming but not until October and November. The problem is there […]