Nexstar Media Group (NXST) reported solid 1Q19 earnings with all important metrics matching Wall Street expectations. Core advertising, retransmission fees, and profit margins all stayed on the recent positive trend. Advertising has improved since last fall providing a nice boost to investor confidence. Retransmission or subscription fees are now about half of revenues making NXST […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-05-17 19:35:112019-05-17 19:35:11Nexstar Preparing to Close Accretive Acquisition of Tribune
Thanks to the 2Q19 earnings report, for a brief stretch, focus on Disney (DIS) turned back to the fundamentals of their current operating businesses. It turns out the news is pretty good. Theme parks are performing very well with growth prospects soon to be supported by new attractions in Orlando and Southern California. The film […]
Despite reporting another solid quarter in line with Wall Street expectations, CBS shares remain in a tough spot. The shares trade at 9X 2019 estimated earnings, barely more than half of the market multiple. The overhanging issue, which has been so for over a year, is a potential merger with Viacom. More recently, the company […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-05-08 19:40:112019-05-08 19:40:11Still Pays to Wait on CBS
Activision Blizzard (ATVI) confirmed it is facing a transition year in 2019 with its 1Q19 earnings report and guidance update. First quarter earnings exceeded Wall Street expectations but management guided 2Q19 below current estimates and maintained full year guidance issued earlier this year. The combination of exiting the Destiny franchise, tough competition from free-to-play games, […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-05-03 19:06:412019-05-03 19:06:41Transition Year Underway at Activision Blizzard
There are no changes to the recommendations form Northlake’s Market Cap and Style models for April. Growth remains the favored Style as it has been since the start of January. The Mid Cap signal also stays in place for the third consecutive month. With no changes to the model signals, client positions 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 Birenberg2019-05-01 14:18:082019-05-01 14:18:08Mid Cap and Growth Themes Remain in Place
Apple (AAPL) reported weak but better than expected 2Q19 results and 3Q19 guidance. Revenues fell -5% for the second consecutive quarter. Operating profit fell -15% after declining -10% last quarter. EPS exceeded expectations but still declined -10% boosted by additional share repurchases. Net income fell -16%. Guess what? Amid all these negative numbers AAPL shares […]
On the surface, MGM Resorts (MGM) reported 1Q19 results in line with Wall Street expectations. However, the composition of the results is troubling investors. Regional casinos in the US did well. Macau showed hoped for improvement assisted by high hold at the tables. Las Vegas fell short on EBITDA. Given that the narrative on MGM […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-04-30 17:37:132019-04-30 17:37:13MGM: The Wait is Almost Over
Alphabet (GOOG/GOOGL) reported disappointing 1Q19 earnings driven by across the board weakness in revenue trends relative to expectations. We have noted in past earnings recaps that Alphabet was holding consistently to 20% plus revenue growth despite the company’s massive size and market share. 1Q19 saw revenue growth in the upper teens, well below expectations for […]
After a tough stretch beginning with last August’s shocking guidance reduction, Facebook (FB) appears mostly out of the woods as far as the bear case goes. User growth at the core Facebook app has held up well in the U.S. and Europe despite the near constant controversies related to privacy. More importantly, advertisers appear to […]
After a difficult 2018, Comcast (CMCSA) shares have rebounded to challenge all-time highs reached at the beginning of last year. This might be hard to understand given the constant drumbeat of news stories about cord-cutting. Well, guess what? Cable is actually a good business and getting better financially speaking. Lost in the cord-cutting hysteria is […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2019-04-25 16:50:092019-04-25 16:50:09Comcast Transition to Broadband is Bullish
Nexstar Preparing to Close Accretive Acquisition of Tribune
Nexstar Media Group (NXST) reported solid 1Q19 earnings with all important metrics matching Wall Street expectations. Core advertising, retransmission fees, and profit margins all stayed on the recent positive trend. Advertising has improved since last fall providing a nice boost to investor confidence. Retransmission or subscription fees are now about half of revenues making NXST […]
Disney Transitioning to Direct-to-Consumer Future
Thanks to the 2Q19 earnings report, for a brief stretch, focus on Disney (DIS) turned back to the fundamentals of their current operating businesses. It turns out the news is pretty good. Theme parks are performing very well with growth prospects soon to be supported by new attractions in Orlando and Southern California. The film […]
Still Pays to Wait on CBS
Despite reporting another solid quarter in line with Wall Street expectations, CBS shares remain in a tough spot. The shares trade at 9X 2019 estimated earnings, barely more than half of the market multiple. The overhanging issue, which has been so for over a year, is a potential merger with Viacom. More recently, the company […]
Transition Year Underway at Activision Blizzard
Activision Blizzard (ATVI) confirmed it is facing a transition year in 2019 with its 1Q19 earnings report and guidance update. First quarter earnings exceeded Wall Street expectations but management guided 2Q19 below current estimates and maintained full year guidance issued earlier this year. The combination of exiting the Destiny franchise, tough competition from free-to-play games, […]
Mid Cap and Growth Themes Remain in Place
There are no changes to the recommendations form Northlake’s Market Cap and Style models for April. Growth remains the favored Style as it has been since the start of January. The Mid Cap signal also stays in place for the third consecutive month. With no changes to the model signals, client positions in the S&P […]
Apple Shows Potential to Ripen
Apple (AAPL) reported weak but better than expected 2Q19 results and 3Q19 guidance. Revenues fell -5% for the second consecutive quarter. Operating profit fell -15% after declining -10% last quarter. EPS exceeded expectations but still declined -10% boosted by additional share repurchases. Net income fell -16%. Guess what? Amid all these negative numbers AAPL shares […]
MGM: The Wait is Almost Over
On the surface, MGM Resorts (MGM) reported 1Q19 results in line with Wall Street expectations. However, the composition of the results is troubling investors. Regional casinos in the US did well. Macau showed hoped for improvement assisted by high hold at the tables. Las Vegas fell short on EBITDA. Given that the narrative on MGM […]
Alphabet Revenue Growth Decelerates
Alphabet (GOOG/GOOGL) reported disappointing 1Q19 earnings driven by across the board weakness in revenue trends relative to expectations. We have noted in past earnings recaps that Alphabet was holding consistently to 20% plus revenue growth despite the company’s massive size and market share. 1Q19 saw revenue growth in the upper teens, well below expectations for […]
Facebook Weathering the Storm
After a tough stretch beginning with last August’s shocking guidance reduction, Facebook (FB) appears mostly out of the woods as far as the bear case goes. User growth at the core Facebook app has held up well in the U.S. and Europe despite the near constant controversies related to privacy. More importantly, advertisers appear to […]
Comcast Transition to Broadband is Bullish
After a difficult 2018, Comcast (CMCSA) shares have rebounded to challenge all-time highs reached at the beginning of last year. This might be hard to understand given the constant drumbeat of news stories about cord-cutting. Well, guess what? Cable is actually a good business and getting better financially speaking. Lost in the cord-cutting hysteria is […]