A better than expected opening for Sex and the City, a decent second weekend for Indiana Jones, and still great legs from Iron Man powered the weekend box office up 28% from the same weekend last year. A year ago there were no meaningful new openings and the top three films were the third versions […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2008-06-01 14:07:112008-06-01 14:07:11Box Office Has A Sexy Rebound
I am quite encouraged by the action in American Apparel (APP). After getting whacked again on Wednesday off a confusing earnings report and conference call, the stock has bounced back strongly. The initial post earnings trades held above the April lows and unlike in April a rebound got underway quickly. Also, volume spiked for one […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2008-05-16 10:02:332008-05-16 10:02:33Encouraging Action in American Apparel
This rally has been really impressive. The S&P 500 is off less than 3% this year as of Thursday’s close, hardly a blip considering all the angst earlier this year and late last year. I think the largest reason for the rally has been that earnings have exceeded expectations. According to Ned Davis Research, the […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2008-05-16 10:01:112008-05-16 10:01:11Thoughts On The Market’s Rally
The broadcast TV networks made their upfront presentations this week. As I’ve written before, this year’s upfront is going to be problematical for the broadcast networks (ABC/Disney, CBS, FOX/News Corp, and NBC/General Electric). During the upfront, the networks sell advertising time for the upcoming TV season, in this case the 2008-09 season that begins in […]
Controversial and rapidly growing retailer American Apparel reported 1Q08 results last night after the close. While there are many extremely positive numbers in the results, I believe that several confusing items will cause the shares to trade lower today, possibly much lower. That said, I think the trends in core retail business look better than […]
DirecTV reported another strong quarter. Overcoming potential headwinds from the economy, the housing recession, and the loss of AT&T marketing in former BellSouth territories, DTV produced an across the board beat in its 1Q08. EPS of 32 cents and revenues of $4.59 billion beat consensus estimates of 31 cents and $4.47 billion, respectively. EPS grew […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2008-05-12 14:41:452008-05-12 14:41:45DirecTV Still Rolling And I Missed It
Cablevision reported better than expected results driven by its core Cable operations and Madison Square Garden. Revenues grew 11% to $1.84 billion ahead of consensus of $1.78 billion. EBITDA grew 20% to $610 million, ahead of estimates for $560 million. Financial and subscriber metrics at the Cable systems were better than expected. Revenues rose 8.6%, […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2008-05-12 14:39:112008-05-12 14:39:11Cablevison: Cable Good But Strategy A Mess
News Corporation reported a confusing set of earnings figure. On the call, management said that adjusted EPS were 30 cents vs. the reported figure o 91 cents. The 91 cents included a $1.7 billion gain while the 30 cents assumes a tax rate of 37%. Consensus was 32 cents so it looks like a miss […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2008-05-08 18:44:192008-05-08 18:44:19News Corp Operating Income Up 16%
Disney easily beat estimates with EPS of 58 cents coming in well ahead of the 51 cents consensus estimate. Here are the comments I posted on the quarter on RealMoney.com before and during the conference call. Alos, please find the earnings summary produced by Gary Dvorchak, my colleague at Real Money. 03:14 CST: Based on […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2008-05-07 12:53:002008-05-07 12:53:00Another Great Quarter For Disney
Time Warner (TWX) reported another mediocre quarter even after adjusting for some items that cause the reported numbers to understate the results. Revenue grew just 2% and adjusted EBITDA grew just 3%. The revenue figure matched estimates while the adjusted EBITDA is a bit ahead. EBITDA strength came from cost controls at AOL that kept […]
https://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2008-05-06 09:26:002008-05-06 09:26:00Time Warner: So Bad It Might Be Getting Good
Box Office Has A Sexy Rebound
A better than expected opening for Sex and the City, a decent second weekend for Indiana Jones, and still great legs from Iron Man powered the weekend box office up 28% from the same weekend last year. A year ago there were no meaningful new openings and the top three films were the third versions […]
Encouraging Action in American Apparel
I am quite encouraged by the action in American Apparel (APP). After getting whacked again on Wednesday off a confusing earnings report and conference call, the stock has bounced back strongly. The initial post earnings trades held above the April lows and unlike in April a rebound got underway quickly. Also, volume spiked for one […]
Thoughts On The Market’s Rally
This rally has been really impressive. The S&P 500 is off less than 3% this year as of Thursday’s close, hardly a blip considering all the angst earlier this year and late last year. I think the largest reason for the rally has been that earnings have exceeded expectations. According to Ned Davis Research, the […]
TV Upfront Season Poses Long-Term Risks
The broadcast TV networks made their upfront presentations this week. As I’ve written before, this year’s upfront is going to be problematical for the broadcast networks (ABC/Disney, CBS, FOX/News Corp, and NBC/General Electric). During the upfront, the networks sell advertising time for the upcoming TV season, in this case the 2008-09 season that begins in […]
American Apparel: Controversy Continues Amid Stellar Growth
Controversial and rapidly growing retailer American Apparel reported 1Q08 results last night after the close. While there are many extremely positive numbers in the results, I believe that several confusing items will cause the shares to trade lower today, possibly much lower. That said, I think the trends in core retail business look better than […]
DirecTV Still Rolling And I Missed It
DirecTV reported another strong quarter. Overcoming potential headwinds from the economy, the housing recession, and the loss of AT&T marketing in former BellSouth territories, DTV produced an across the board beat in its 1Q08. EPS of 32 cents and revenues of $4.59 billion beat consensus estimates of 31 cents and $4.47 billion, respectively. EPS grew […]
Cablevison: Cable Good But Strategy A Mess
Cablevision reported better than expected results driven by its core Cable operations and Madison Square Garden. Revenues grew 11% to $1.84 billion ahead of consensus of $1.78 billion. EBITDA grew 20% to $610 million, ahead of estimates for $560 million. Financial and subscriber metrics at the Cable systems were better than expected. Revenues rose 8.6%, […]
News Corp Operating Income Up 16%
News Corporation reported a confusing set of earnings figure. On the call, management said that adjusted EPS were 30 cents vs. the reported figure o 91 cents. The 91 cents included a $1.7 billion gain while the 30 cents assumes a tax rate of 37%. Consensus was 32 cents so it looks like a miss […]
Another Great Quarter For Disney
Disney easily beat estimates with EPS of 58 cents coming in well ahead of the 51 cents consensus estimate. Here are the comments I posted on the quarter on RealMoney.com before and during the conference call. Alos, please find the earnings summary produced by Gary Dvorchak, my colleague at Real Money. 03:14 CST: Based on […]
Time Warner: So Bad It Might Be Getting Good
Time Warner (TWX) reported another mediocre quarter even after adjusting for some items that cause the reported numbers to understate the results. Revenue grew just 2% and adjusted EBITDA grew just 3%. The revenue figure matched estimates while the adjusted EBITDA is a bit ahead. EBITDA strength came from cost controls at AOL that kept […]