1 199 Covered the extra $TWC I shorted. Still short a core position vs. longs on $CVC $CMCSA and $MCCC. Thu Jan 28 16:38:57 +0000 2010 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 8329088928 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> CMCSA CVC MCCC TWC @TMTanalyst right now I buy $LCAPA naked as the spread vs NAV has widened on the $SIRI ramp. $TWC $TWX $S $VIA also owned. $MOT hedged. Thu Jan 28 16:14:19 +0000 2010 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 8328187024 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> LCAPA MOT S SIRI TWC TWX VIA Shorted some more $TWC at $46. Granted's been a terrible short in 2010. With dividend declared and EPS out, hoping catalysts are over. Thu Jan 28 16:07:31 +0000 2010 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 8327943358 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> TWC 6 cents in $SIRI is barley getting noticed in $LCAPA which owns 40% of $SIRI. 1 cent in $SIRI all else equal is worth 25 cents in $LCAPA. Thu Jan 28 16:03:59 +0000 2010 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 8327811656 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> LCAPA SIRI $AAPL at $155 adj for cash, likely earning $12 in new GAAP in FY10. 13 P-E. Seems cheap for near-term and LT mkt share opportunity. Mon Jan 25 22:47:15 +0000 2010 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 8210401051 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> AAPL $AAPL cash is $43 a share. Surely north of $50 by end of fiscal year. Cash earning less than 10 cents per share. $205 -$50 = $155... Mon Jan 25 22:45:10 +0000 2010 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 8210326351 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> AAPL $AAPL 2009 new actual EPS is $9.18. Just reported 1Q10 EPS +44% and guided to 2Q10 +18%. +30% in 2010 is $11.87. Probably conservative... Mon Jan 25 22:44:01 +0000 2010 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 8210283967 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> AAPL Bought $VMED after it got crushed again on weakness in European markets and fears about BT's new broadband pricing. http://bit.ly/60Tp48 Fri Jan 22 17:37:27 +0000 2010 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 8077639555 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> VMED $LCAPA kicks in to follow its 40% stake in $SIRI. Penny in $LCAPA worth 25 cents $LCAPA. At open $LCAPA unch, $SIRI up 7 cents. Easy money. Wed Jan 20 20:45:38 +0000 2010 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 7999115865 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> LCAPA SIRI $LCAPA owns 40% of $SIRI. A penny $SIRI is worth 25 cents $LCAPA. $SIRI +7 cents, $LCAPA's net asset value +$1.75. $LCAPA only up 44 cents. Wed Jan 20 14:42:40 +0000 2010 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 7987571165 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> LCAPA SIRI $SIRI up 7 cents. $LCAPA owns 40% of $SIRI or 2.55 billion shares. 7 cents for $SIRI is worth $1.73 per $LCAPA share based on 103mm shs. Wed Jan 20 03:34:19 +0000 2010 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 7972808112 19951225 web LCAPA SIRI Apparently I am the only one unimpressed by $DIS earnings report. New Media Talk: Less Than Meets the Eye at Disney http://bit.ly/15MLyV Fri Nov 13 15:21:16 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5681892390 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> DIS $DIS finishes media quarterly earnings season post close on Thursday. Here is a preview from Northlake's Media Talk: http://bit.ly/2d02R Wed Nov 11 17:40:35 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5624533011 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> DIS $CBS conference call about to start. EBITDA guidance maintained despite big beat. 4Q consensus EBITDA at mid-point of guidance. Thu Nov 05 21:30:28 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5460465590 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> CBS $CBS press release show big beat. Upside to ests on rev, EBITDA, and EPS is substantial. TV leads the way. Less upside at Outdoor than $LAMR Thu Nov 05 21:24:24 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5460312615 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> CBS LAMR $SNI buys Travel Channel. Hefty valuation good for $DISCA, $VIA, $TWX, $NWSA. Creative financing supporting $SNI. $SNI delays EPS 1 day. Thu Nov 05 17:30:38 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5454838399 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> DISCA NWSA SNI TWX VIA Media earnings roll on. The news remains good across the board. $LBTYA/$DTV/$TWC/$LAMR, all at least in line. $CBS tonight should be good. Thu Nov 05 17:28:19 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5454782552 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> CBS LBTYA $NWSA raises FY10 ending June op income guidance from "up high single digits" to "up high single to low double digits." Film and TV lead. Wed Nov 04 21:46:27 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5431309526 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> NWSA $NWSA Murdoch in press release notes macro challenges but clear improvement globally. He sounds confident about company outlook for FY10. Wed Nov 04 21:33:48 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5430991852 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> NWSA $NWSA comes in slightly ahead of ests on rev but still down 4%. Op Inc +9%. Best in class so far. Call starting but I think it trades up. Wed Nov 04 21:32:04 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5430948249 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> NWSA $NWSA continues string of positive surprises from media companies. EPS 4 cents ahead of ests driven by margins at Film, Cable Nets, TV. Wed Nov 04 21:30:17 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5430902950 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> NWSA Media earnings week now 2ndary to the Fed. $NWSA reports tonight. $TWC,/$LBTYA,/$SNI report in AM;.$CBS/$ATVI report Thurs PM. I like $CBS. Wed Nov 04 19:34:41 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5428237118 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> CBS NWSA TWC $CMCSA mixed. Sub metrics much better but at cost as margins a little light. Mgt states "it is a balancing act." Agree. Invt case balanced. Wed Nov 04 14:40:19 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5421357734 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> CMCSA More positve EPS for media stocks. $TWX has "beat and raise" on clean numbers. Ad trends improve echoing $VIA.b and $DISCA. Stks responding. Wed Nov 04 14:38:07 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5421309156 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> DISCA TWX $DISCA US advertising growth +5%. Intl ad growth +9% local currency. Compares to -4% domestic at $VIA.b. Tue Nov 03 21:26:55 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5402118267 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> DISCA $DISCA 2009 guidance inline on rev and net income but 3-4% better than expected on EBITDA. Non-cash stk-based comp is difference. Tue Nov 03 21:26:02 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5402097089 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> DISCA Good Q from $DISCA. Ignore 5 cent EPS miss as it is due to non-cash stk-based comp. Rev 1% ahead of est. EBITDA $364 vs $299 consensus. Tue Nov 03 21:24:55 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5402070620 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> DISCA $CVC subscriber numbers a little disappointing but financial numbers, especially free cash flow are good. Stk looking more attractive to me. Tue Nov 03 16:14:32 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5394849295 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> CVC Disappointing action in $VIA.b and other media stks off a pretty good quarter/solid conference call at $VIA.b. $DISCA EPS after the close. Tue Nov 03 16:12:57 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5394811505 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> DISCA Media earnings start well. $VIA.b and $CVC both report clean beats. $VIA mostly cost controls but revs at least OK. Still working on $CVC. Tue Nov 03 14:08:39 +0000 2009 SteveBirenberg http://a3.twimg.com/profile_images/109538781/Steve_New_Photo_normal.jpg 5391920187 19951225 <a href="http://www.tweetdeck.com/" rel="nofollow">TweetDeck</a> CVC VIA