Liberty Global (LBTYK) reported its slowest quarterly growth of 2013 in the December quarter, with low single digit gains in revenue and operating income. The numbers were not a surprise as a difficult competitive environment in the UK and Netherlands and initial dis-synergies form the acquisition of Virgin Media in the UK held back results. […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2014-02-17 11:39:202014-02-17 11:39:20Liberty Global Growth Set to Accelerate
Discovery Communications (DISCK) reported results roughly in line with Wall Street estimates and provided 2014 guidance just a little below expectations. Estimates for the December quarter and 2014 had been falling recently as DISCK’s leading U.S. networks, Discovery and TLC, had a rough patch of lower ratings. The stock has performed poorly during this period […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2014-02-17 10:51:382014-02-17 10:51:38Discovery Communications: Bottoming Out After a Rough Stretch
CBS reported another healthy quarter and provided reassuring commentary on the near-term and long-term outlook. Revenues grew 6% and segment level operating cash flow grew 7%, both ahead of expectations. Advertising at the CBS Network grew 4%, better than feared given concerns over ad demand and pricing that arose following the government shutdown. Management noted […]
Disney (DIS) reported better than expected first quarter results with all divisions except ABC performing ahead of Wall Street estimates. EPS of $1.04 exceeded street consensus of 91 cents with over half the beat coming from operating factors. DIS faces a few quarters of tougher comparisons and slower growth but investor sentiment should stay very […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2014-02-09 18:10:152014-02-09 18:10:15Disney All Good with More to Come
Google (GOOG) reported another good quarter. Please note I am defining “good” as satisfactory to investors. GOOG went through a roughly six quarter stretch in 2012 and early 2013 where despite showing sustained 20% plus growth, investors were concerned. These last two quarters have addressed the concerns and GOOG shares have moved up sharply 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 Birenberg2014-02-03 10:25:112014-02-03 10:25:11Another Good Quarter Builds Bull Case for Google
There were no changes to the signals from Northlake’s Market Cap and Style models for February. The Market Cap model continues to favor mid cap and the Style model still recommends value. With no changes to the signals for this month, Northlake client positions in the S&P 400 Mid Cap (MDY) and Russell 1000 Value […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2014-02-03 09:43:402014-02-03 09:43:40Models Unchanged for February: Still Like Mid Cap and Value
I often think that my best analysis comes from real-time commentary as I listen to the conference calls that accompany the quarterly earnings reports from the companies I follow. In the past, I have offered my twitter comments on Apple (AAPL). Below are my instant message comments sent to a colleague who helps me out […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2014-01-28 09:36:272014-01-28 09:36:27Sobering Quarter and Guidance for Long-Time Apple Bull
Comcast (CMCSK) reported another excellent quarter and indicated the outlook for 2014, and even 2015, is strong. Showing confidence in its business strategy, execution, and growth potential, the company increased the dividend by 15% and expanded its share buyback program by $3 billion. The headline financial metrics for the fourth quarter were impressive: revenue +5.8%, […]
Northlake’s models start 2014 with a switch from growth to value in the Style model. This change occurs after three months on the growth signal during which growth outperformed value by a little less than 1%. As a result of this fresh signal, all client positions in the Russell 1000 Growth (IWF) were sold and […]
https://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gif00Steve Birenberghttps://dev.northlakecapital.com/wp-content/uploads/2026/02/nl_logo.gifSteve Birenberg2014-01-02 13:24:562014-01-02 13:24:562014 Kicks Off With a Shift to Value
Northlake’s Market Cap model shifted back to Mid Cap after a brief, one month stop at large cap in November. As a result of the new signal, client positions in the Russell 2000 (IWM) were sold and the proceeds were reinvested in the S&P 400 mid Cap (MDY). There was no change to the Style […]
Liberty Global Growth Set to Accelerate
Liberty Global (LBTYK) reported its slowest quarterly growth of 2013 in the December quarter, with low single digit gains in revenue and operating income. The numbers were not a surprise as a difficult competitive environment in the UK and Netherlands and initial dis-synergies form the acquisition of Virgin Media in the UK held back results. […]
Discovery Communications: Bottoming Out After a Rough Stretch
Discovery Communications (DISCK) reported results roughly in line with Wall Street estimates and provided 2014 guidance just a little below expectations. Estimates for the December quarter and 2014 had been falling recently as DISCK’s leading U.S. networks, Discovery and TLC, had a rough patch of lower ratings. The stock has performed poorly during this period […]
CBS Keeping Its Bullish Eye
CBS reported another healthy quarter and provided reassuring commentary on the near-term and long-term outlook. Revenues grew 6% and segment level operating cash flow grew 7%, both ahead of expectations. Advertising at the CBS Network grew 4%, better than feared given concerns over ad demand and pricing that arose following the government shutdown. Management noted […]
Disney All Good with More to Come
Disney (DIS) reported better than expected first quarter results with all divisions except ABC performing ahead of Wall Street estimates. EPS of $1.04 exceeded street consensus of 91 cents with over half the beat coming from operating factors. DIS faces a few quarters of tougher comparisons and slower growth but investor sentiment should stay very […]
Another Good Quarter Builds Bull Case for Google
Google (GOOG) reported another good quarter. Please note I am defining “good” as satisfactory to investors. GOOG went through a roughly six quarter stretch in 2012 and early 2013 where despite showing sustained 20% plus growth, investors were concerned. These last two quarters have addressed the concerns and GOOG shares have moved up sharply to […]
Models Unchanged for February: Still Like Mid Cap and Value
There were no changes to the signals from Northlake’s Market Cap and Style models for February. The Market Cap model continues to favor mid cap and the Style model still recommends value. With no changes to the signals for this month, Northlake client positions in the S&P 400 Mid Cap (MDY) and Russell 1000 Value […]
Sobering Quarter and Guidance for Long-Time Apple Bull
I often think that my best analysis comes from real-time commentary as I listen to the conference calls that accompany the quarterly earnings reports from the companies I follow. In the past, I have offered my twitter comments on Apple (AAPL). Below are my instant message comments sent to a colleague who helps me out […]
Comcast Continues to Shine
Comcast (CMCSK) reported another excellent quarter and indicated the outlook for 2014, and even 2015, is strong. Showing confidence in its business strategy, execution, and growth potential, the company increased the dividend by 15% and expanded its share buyback program by $3 billion. The headline financial metrics for the fourth quarter were impressive: revenue +5.8%, […]
2014 Kicks Off With a Shift to Value
Northlake’s models start 2014 with a switch from growth to value in the Style model. This change occurs after three months on the growth signal during which growth outperformed value by a little less than 1%. As a result of this fresh signal, all client positions in the Russell 1000 Growth (IWF) were sold and […]
Model Volatility Continues as Mid Cap Gains Favro
Northlake’s Market Cap model shifted back to Mid Cap after a brief, one month stop at large cap in November. As a result of the new signal, client positions in the Russell 2000 (IWM) were sold and the proceeds were reinvested in the S&P 400 mid Cap (MDY). There was no change to the Style […]