Central European Media Enterprises (CETV) reported solid 3Q05 EPS last week in a seasonally weak quarter. The market liked the results and the stock is set up well heading into what should be a well-attended analyst meeting in Prague scheduled for Thursday and Friday (my best contact on CETV will be in attendance). I think […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2005-11-08 14:45:212005-11-08 14:45:21Central European Media Enterprises: Good Third Quarter Sets Up Strong Finish to 2005
DirecTV (DTV) reported slightly disappointing 3Q05 results primarily due to higher than expected churn and retention marketing. Revenue of $3.2 billion was a little shy of estimates while EBITDA of $365 million was a more significant shortfall. Gross and net adds don
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2005-11-04 09:06:282005-11-04 09:06:28DirecTV: Not Interested In Getting Long
Elements of Comcast’s 3Q05 earnings report are disappointing and they are elements that will matter to the Street. While top line revenue growth and EBITDA growth closely tracked Street estimates, rising 10% and 14%, respectively, a loss of 37,000 basic subscribers in a seasonally strong quarter and higher than expected capital spending, and thus lower […]
The November signals from the market cap and style models Northlake uses to allocate ETF-dedicated funds were unchanged from October. Consequently, no trades were done for November and client portfolios continue to own Mid Cap and Value. Specifically, clients own the S&P 400 Mid Cap (MDY) for market cap exposure, while style exposure is split […]
Just a quick follow-up to my earlier post about AOL and Time Warner (TWX). AOL did not come though on the ad line as I thought might occur. I still believe we will see strength in 4Q when AOL.com really launches but for now the push-pull between subscriber loss and advertising growth is too large […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2005-11-02 11:11:102005-11-02 11:11:10AOL Doesn’t Come Through But A Solid Quarter for Time Warner
Given the critical role that AOL will play in the perception of TWX’s quarter I wanted to mention an interesting piece of research Bernstein put out last week about advertising revenue at the MSN division of Microsoft (MSFT). I switched to a bullish position on TWX in September based primarily on my belief that the […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2005-11-02 11:04:562005-11-02 11:04:56Time Warner: Will AOL Finally Show Good Advertising Growth
Viacom (VIA) reported slightly better than expected that 3Q05 earnings although almost all the excess was earned in the volatile and difficult to predict Entertainment division. Earnings came in at 47 cents against estimates of 45 cents. The company incurred $58 million in one-time expenses related to the split, hurricanes, and an impairment charge. Applying […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2005-11-02 11:01:182005-11-02 11:01:18Viacom: Better But Still Too Early
Charter Commications (CHTR) reported mixed results for 3Q05 with EBITDA falling short of expectations while subscriber metrics showed better than expected growth in new services. The company also announce settlement of a dispute over some shares held by Paul Allen in a subsidiary. To be completely honest, I was unable to decpiher the press release […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2005-11-02 10:59:352005-11-02 10:59:35Charter: A Very Expensive Option
Central European Media Enterprises (CETV) broke a long string of losing days yesterday, rising 4%, or $1.77, to $46.49. The company reports earnings before the open on Wednesday but the trigger for Monday’s advance was more likely the announcement that the company has increased its stake in its Slovakian operation and gained control of the […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2005-11-01 11:38:292005-11-01 11:38:29Central European Media Enterprises: Takes Control of License in Slovakia
Viacom (VIA/VIAb) reports before the open on Tuesday. Most investors are looking ahead to the split of the company that will occur at year end but this report could provide some insights on how the two new parts may perform right out of the chute as this is probably the last report as a combined […]
Central European Media Enterprises: Good Third Quarter Sets Up Strong Finish to 2005
Central European Media Enterprises (CETV) reported solid 3Q05 EPS last week in a seasonally weak quarter. The market liked the results and the stock is set up well heading into what should be a well-attended analyst meeting in Prague scheduled for Thursday and Friday (my best contact on CETV will be in attendance). I think […]
DirecTV: Not Interested In Getting Long
DirecTV (DTV) reported slightly disappointing 3Q05 results primarily due to higher than expected churn and retention marketing. Revenue of $3.2 billion was a little shy of estimates while EBITDA of $365 million was a more significant shortfall. Gross and net adds don
Comcast: Disappointing Quarter Delays Potential Upside
Elements of Comcast’s 3Q05 earnings report are disappointing and they are elements that will matter to the Street. While top line revenue growth and EBITDA growth closely tracked Street estimates, rising 10% and 14%, respectively, a loss of 37,000 basic subscribers in a seasonally strong quarter and higher than expected capital spending, and thus lower […]
November Model Signals
The November signals from the market cap and style models Northlake uses to allocate ETF-dedicated funds were unchanged from October. Consequently, no trades were done for November and client portfolios continue to own Mid Cap and Value. Specifically, clients own the S&P 400 Mid Cap (MDY) for market cap exposure, while style exposure is split […]
AOL Doesn’t Come Through But A Solid Quarter for Time Warner
Just a quick follow-up to my earlier post about AOL and Time Warner (TWX). AOL did not come though on the ad line as I thought might occur. I still believe we will see strength in 4Q when AOL.com really launches but for now the push-pull between subscriber loss and advertising growth is too large […]
Time Warner: Will AOL Finally Show Good Advertising Growth
Given the critical role that AOL will play in the perception of TWX’s quarter I wanted to mention an interesting piece of research Bernstein put out last week about advertising revenue at the MSN division of Microsoft (MSFT). I switched to a bullish position on TWX in September based primarily on my belief that the […]
Viacom: Better But Still Too Early
Viacom (VIA) reported slightly better than expected that 3Q05 earnings although almost all the excess was earned in the volatile and difficult to predict Entertainment division. Earnings came in at 47 cents against estimates of 45 cents. The company incurred $58 million in one-time expenses related to the split, hurricanes, and an impairment charge. Applying […]
Charter: A Very Expensive Option
Charter Commications (CHTR) reported mixed results for 3Q05 with EBITDA falling short of expectations while subscriber metrics showed better than expected growth in new services. The company also announce settlement of a dispute over some shares held by Paul Allen in a subsidiary. To be completely honest, I was unable to decpiher the press release […]
Central European Media Enterprises: Takes Control of License in Slovakia
Central European Media Enterprises (CETV) broke a long string of losing days yesterday, rising 4%, or $1.77, to $46.49. The company reports earnings before the open on Wednesday but the trigger for Monday’s advance was more likely the announcement that the company has increased its stake in its Slovakian operation and gained control of the […]
Viacom Third Quarter Earnngs Preview
Viacom (VIA/VIAb) reports before the open on Tuesday. Most investors are looking ahead to the split of the company that will occur at year end but this report could provide some insights on how the two new parts may perform right out of the chute as this is probably the last report as a combined […]