Comcast reported solid 4Q19 results with strength in the cable business offset by a modest shortfall at NBC Universal’s broadcast and cable TV networks, theme parks, and film studio. As often seems to be the case over the past year, Comcast’s conference call snatched defeat from the jaws of victory when the company discussed specific […]
IBM’s 4Q19 earnings report was a big step in the right direction for Northlake’s bullish thesis on IBM shares. As a reminder, we see the potential for an expansion in the company’s depressed P-E multiple if the company can return to modest revenue growth due to improvement in the company’s growth businesses – hybrid cloud, […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2020-01-22 18:50:372020-01-22 18:50:37Green Shoots Sprouting at IBM
Northlake’s Market Cap and Style models begin 2020 as they ended 2019, favoring mid caps and neutral on growth vs. value. This means that client positions following the models will stay invested in the S&P 400 Mid Cap (MDY), the Russell 1000 Growth (IWF), the S&P 500 Growth (SPYG), and Russell 1000 Value (IWD) for […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2020-01-02 14:26:372020-01-02 14:26:37Models Stick with Mid Caps and Neutral on Growth vs. Value to Begin 2020
There are no changes to Northlake’s thematic models for December. The new signals initiated at the start of November remain in place. The Market Cap model is recommending mid cap and the Style model is neutral on growth vs value. With no changes to the signals, client positions following the models held in the S&P […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-12-02 15:29:382019-12-02 15:29:38Sticking with Mid Cap and Neutral on Growth vs. Value to Finish 2020
Activision Blizzard (ATVI) reported sales and earnings that were better than expected with typically conservative guidance for 4Q19. The restructuring effort underway at ATVI appears to be gaining traction as the company invests toward setting up a strong 2020. Such investments include increasing marketing spend behind successful franchises to expand the player base, developing content […]
Facebook (FB) reported 3Q19 sales slightly ahead of expectations with stronger earnings driven by disciplined expense growth. Guidance commentary was mostly positive with a warning of a pronounced revenue deceleration in 4Q19 due to difficult comparisons to the prior year being offset by an encouraging outlook for 2020. Northlake sees FB heading toward a positive […]
Nexstar Media Group (NXST) has been one of Northlake’s best performing stocks this year. The shares are up 38%, including a gain of about 10% since the company reported third quarter earnings last week. NXST has attracted investors due to its highly accretive acquisition of Tribune, which makes NXST the largest owner of local TV […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-11-12 16:43:032019-11-12 16:43:03Positive Outlook at Nexstar as Tribune Acquisition Closes
CBS reported 3Q19 earnings in line with reduced Wall Street expectations in its last quarter as standalone company. The merger of Viacom and CBS to create ViacomCBS should close in the first half of December. CBS shares represent the newco as Viacom shareholders will exchange their shares for CBS shares. CBS shares have declined sharply […]
Following a disappointing result in the June quarter with unexpected weakness in Disney’s core business segments, September quarter earnings were improved with stabilization or improvement in theme parks and acquired 21st Century Fox film and TV operations. This led to a relief rally of 3% in DIS shares which had pulled back from $140 to […]
Both of Northlake’s models are sending new signals for November. The Market Cap model shifted back to mid cap after just two months at large cap. The Style model moved to neutral after ten months at growth. Both shifts reflect slightly improved economic data and reduced risk of a U.S. recession. As a result of […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-11-01 15:53:122019-11-01 15:53:12Recession Fears Receding Drives Shift To Mid Cap and Value
Comcast Broadband Strength Offset by TV Headwinds
Comcast reported solid 4Q19 results with strength in the cable business offset by a modest shortfall at NBC Universal’s broadcast and cable TV networks, theme parks, and film studio. As often seems to be the case over the past year, Comcast’s conference call snatched defeat from the jaws of victory when the company discussed specific […]
Green Shoots Sprouting at IBM
IBM’s 4Q19 earnings report was a big step in the right direction for Northlake’s bullish thesis on IBM shares. As a reminder, we see the potential for an expansion in the company’s depressed P-E multiple if the company can return to modest revenue growth due to improvement in the company’s growth businesses – hybrid cloud, […]
Models Stick with Mid Caps and Neutral on Growth vs. Value to Begin 2020
Northlake’s Market Cap and Style models begin 2020 as they ended 2019, favoring mid caps and neutral on growth vs. value. This means that client positions following the models will stay invested in the S&P 400 Mid Cap (MDY), the Russell 1000 Growth (IWF), the S&P 500 Growth (SPYG), and Russell 1000 Value (IWD) for […]
Sticking with Mid Cap and Neutral on Growth vs. Value to Finish 2020
There are no changes to Northlake’s thematic models for December. The new signals initiated at the start of November remain in place. The Market Cap model is recommending mid cap and the Style model is neutral on growth vs value. With no changes to the signals, client positions following the models held in the S&P […]
Activision Blizzard Investing for Strong 2020
Activision Blizzard (ATVI) reported sales and earnings that were better than expected with typically conservative guidance for 4Q19. The restructuring effort underway at ATVI appears to be gaining traction as the company invests toward setting up a strong 2020. Such investments include increasing marketing spend behind successful franchises to expand the player base, developing content […]
Facebook Overcomes Growth Concerns with Strong Execution
Facebook (FB) reported 3Q19 sales slightly ahead of expectations with stronger earnings driven by disciplined expense growth. Guidance commentary was mostly positive with a warning of a pronounced revenue deceleration in 4Q19 due to difficult comparisons to the prior year being offset by an encouraging outlook for 2020. Northlake sees FB heading toward a positive […]
Positive Outlook at Nexstar as Tribune Acquisition Closes
Nexstar Media Group (NXST) has been one of Northlake’s best performing stocks this year. The shares are up 38%, including a gain of about 10% since the company reported third quarter earnings last week. NXST has attracted investors due to its highly accretive acquisition of Tribune, which makes NXST the largest owner of local TV […]
CBS Meets Reduced Expectations as Viacom Merger Looms
CBS reported 3Q19 earnings in line with reduced Wall Street expectations in its last quarter as standalone company. The merger of Viacom and CBS to create ViacomCBS should close in the first half of December. CBS shares represent the newco as Viacom shareholders will exchange their shares for CBS shares. CBS shares have declined sharply […]
Disney Core Stable as the DTC Future Begins
Following a disappointing result in the June quarter with unexpected weakness in Disney’s core business segments, September quarter earnings were improved with stabilization or improvement in theme parks and acquired 21st Century Fox film and TV operations. This led to a relief rally of 3% in DIS shares which had pulled back from $140 to […]
Recession Fears Receding Drives Shift To Mid Cap and Value
Both of Northlake’s models are sending new signals for November. The Market Cap model shifted back to mid cap after just two months at large cap. The Style model moved to neutral after ten months at growth. Both shifts reflect slightly improved economic data and reduced risk of a U.S. recession. As a result of […]