Apple (AAPL) reported a beat and raise quarter affirming that the iPhone 11 cycle is proceeding better than expected. The report also contained good news with above consensus growth in Wearables and Services. Apple shares had discounted this good news, rising from a low of $170 in June to over $240 ahead of the report. […]
Since the tragic shooting at Mandalay Bay in October 2017, MGM Resorts (MGM) has posted inconsistent results at its Las Vegas properties. There has been a lingering impact in Las Vegas generally and at MGM’s southern Strip properties in particular. The results have also bounced around due to the Las Vegas convention and entertainment calendar […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-10-31 20:02:112019-10-31 20:02:11MGM Resorts Moving in the Right Direction
Alphabet’s (GOOG/GOOGL) headline 3Q19 earnings release was mixed but after adjusting for one-time items, the report was a good one albeit lacking the upside relative to consensus estimates the company reported last quarter. Most importantly for Northlake, Alphabet showed strong advertising growth above 20% reinforcing the rebound in 2Q19 after the unexpected deceleration in growth […]
In what has become routine, Comcast (CMCSA) reported solid results with strength in the cable business offset by weaker trends at NBC Universal. Northlake sees more value creation on the distribution side looking ahead to 2020 and 2021 as the company increasingly becomes a broadband supplier rather than a video distributor. We all read a […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-10-24 17:11:482019-10-24 17:11:48Comcast Again Benefits from Focus on Broadband
Northlake has been monitoring IBM for some time in anticipation of an inflection point in the company’s revenue growth and margin profile. We purchased the shares last quarter thinking that the 3Q19 and 2H19 would provide the inflection and lead to a higher P-E multiple for the shares. At our entry point and currently IBM […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-10-17 16:00:202019-10-17 16:00:20Inflection Delayed But IBM Still Has Upside
There are no changes to recommendations of Northlake’s Market Cap and Style models for October. The Market Cap model favors large cap for a second consecutive month after six prior months recommending mid cap. The growth signal that has been in place since the beginning of 2019 remains for another month. With no changes to […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-10-01 18:28:502019-10-01 18:28:50Large Cap and Growth Still Looking Good
After six months recommending mid cap, Northlake’s Market Cap model has shifted to a large cap signal. Current client positions following the model and held in the S&P 400 Mid Cap (MDY) will be sold and the proceeds will be reinvested in the S&P 500 (SPY). Some clients will continue to own mid cap via […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-09-03 14:04:322019-09-03 14:04:32Back to Large Cap and Sticking with Growth Amid Uncertain Economic Outlook
Activision Blizzard (ATVI) reported 2Q19 results that were overall slightly better than expected. Guidance for 3Q19 was underwhelming from the typically conservative management team, but 2019 guidance and expectations were largely unchanged. The current quarter faces a difficult comparison to last year, when ATVI benefitted from a strong contribution from the Destiny franchise that is […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Tim Fodorhttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifTim Fodor2019-08-14 17:08:462019-08-14 17:08:46Activision Blizzard Proceeding Through Transition Year
We have held off for a few days writing up the 2Q19 earnings report from CBS. It appears the company will finally announce its merger with Viacom and we wanted to wait and cover both events in one post. The merger has been in the works in one form or another for several years. Deal […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-08-12 14:30:142019-08-12 14:30:14CBS In Line as Viacom Merger Looms
Nexstar Media Group (NXST) reported 2Q results very slightly below consensus estimates. All guidance was reiterated. The company guides based on average 2018 and 2019 results given the highly cyclical nature of revenues due to political and Olympic advertising only occurring in even years. Management is careful about guidance and admitted on the call that […]
Apple Accelerates Growth in Services and Wearables
Apple (AAPL) reported a beat and raise quarter affirming that the iPhone 11 cycle is proceeding better than expected. The report also contained good news with above consensus growth in Wearables and Services. Apple shares had discounted this good news, rising from a low of $170 in June to over $240 ahead of the report. […]
MGM Resorts Moving in the Right Direction
Since the tragic shooting at Mandalay Bay in October 2017, MGM Resorts (MGM) has posted inconsistent results at its Las Vegas properties. There has been a lingering impact in Las Vegas generally and at MGM’s southern Strip properties in particular. The results have also bounced around due to the Las Vegas convention and entertainment calendar […]
Alphabet Reports Solid 3Q19 Results
Alphabet’s (GOOG/GOOGL) headline 3Q19 earnings release was mixed but after adjusting for one-time items, the report was a good one albeit lacking the upside relative to consensus estimates the company reported last quarter. Most importantly for Northlake, Alphabet showed strong advertising growth above 20% reinforcing the rebound in 2Q19 after the unexpected deceleration in growth […]
Comcast Again Benefits from Focus on Broadband
In what has become routine, Comcast (CMCSA) reported solid results with strength in the cable business offset by weaker trends at NBC Universal. Northlake sees more value creation on the distribution side looking ahead to 2020 and 2021 as the company increasingly becomes a broadband supplier rather than a video distributor. We all read a […]
Inflection Delayed But IBM Still Has Upside
Northlake has been monitoring IBM for some time in anticipation of an inflection point in the company’s revenue growth and margin profile. We purchased the shares last quarter thinking that the 3Q19 and 2H19 would provide the inflection and lead to a higher P-E multiple for the shares. At our entry point and currently IBM […]
Large Cap and Growth Still Looking Good
There are no changes to recommendations of Northlake’s Market Cap and Style models for October. The Market Cap model favors large cap for a second consecutive month after six prior months recommending mid cap. The growth signal that has been in place since the beginning of 2019 remains for another month. With no changes to […]
Back to Large Cap and Sticking with Growth Amid Uncertain Economic Outlook
After six months recommending mid cap, Northlake’s Market Cap model has shifted to a large cap signal. Current client positions following the model and held in the S&P 400 Mid Cap (MDY) will be sold and the proceeds will be reinvested in the S&P 500 (SPY). Some clients will continue to own mid cap via […]
Activision Blizzard Proceeding Through Transition Year
Activision Blizzard (ATVI) reported 2Q19 results that were overall slightly better than expected. Guidance for 3Q19 was underwhelming from the typically conservative management team, but 2019 guidance and expectations were largely unchanged. The current quarter faces a difficult comparison to last year, when ATVI benefitted from a strong contribution from the Destiny franchise that is […]
CBS In Line as Viacom Merger Looms
We have held off for a few days writing up the 2Q19 earnings report from CBS. It appears the company will finally announce its merger with Viacom and we wanted to wait and cover both events in one post. The merger has been in the works in one form or another for several years. Deal […]
Nexstar Poised for Acquisition Catalyst
Nexstar Media Group (NXST) reported 2Q results very slightly below consensus estimates. All guidance was reiterated. The company guides based on average 2018 and 2019 results given the highly cyclical nature of revenues due to political and Olympic advertising only occurring in even years. Management is careful about guidance and admitted on the call that […]