RESEARCH

Title Date
AMC Networks: Where Are We Headed? Feb 27, 2020
Square 4Q19: Square’s Slew of Suitors (aka the Other Reason to Be Bullish) Feb 27, 2020
Cogent Q4 2019 Earnings: Past the Growth Bottom? Feb 27, 2020
Cord Cutting The Great Unwind Conference Call Deck Feb 26, 2020
Crown Castle Q4 2019 Earnings: Silly Accountants... Feb 26, 2020
American Tower Q4 2019 Earnings: Two Key Topics Feb 25, 2020
MA: The Blessings, Curses, and Potential Legacies of Michael Miebach, Mastercard’s New CEO Feb 25, 2020
Payments Sector Marketing Deck Feb 24, 2020
IBM: Dear Mr. Krishna, Six Actions We are Watching For Feb 24, 2020
Cinemark: What Is Now Priced In? Feb 24, 2020
Media Comps 2020-02-24 Feb 24, 2020
Communications Infrastructure Comps 2020-02-24 Feb 24, 2020
Telecom Cable Satellite Comps 2020-02-24 Feb 24, 2020
ViacomCBS: A House Built On Sand? Feb 21, 2020
SBA Q4 2019 Earnings: A Look at the New Tower Leasing Landscape Feb 20, 2020
Dish Q4 2019 Earnings: Now Comes the Hard Part Feb 19, 2020
Q4 2019 Cord-Cutting Monitor: The Great Unwind Feb 19, 2020
CyrusOne Q4 2019 Earnings: M&A Whiplash Feb 19, 2020
Netflix: Conquering the World, But At What Cost? Feb 18, 2020
CenturyLink: Aligning Our Rating with the Fundamentals... Downgrade to Sell, TP $10 Feb 18, 2020
Media Internet Comps 2020-02-18 Feb 18, 2020
Telecom Cable Satellite Comps 2020-02-18 Feb 18, 2020
Communications Infrastructure Comps 2020-02-18 Feb 18, 2020
QTS Q4 2019 Earnings: Both Sides of the Coin Feb 18, 2020
FIS 4Q19: Moving Fast for the Long Term Feb 14, 2020
Visa: The Case for 12+% Revenue Growth Feb 14, 2020
Global Payments 4Q19: The Next Catalyst – Re-Visiting the M&A Chessboard Feb 13, 2020
Digital Realty Q4 2019 Earnings: Slimming Down and Bulking Up Feb 13, 2020
Interpublic: Safety in Numbers? Feb 12, 2020
Altice USA Q4 2019 Earnings: Altice’s Wireless Strategy Just Got a Lot More Interesting Feb 12, 2020
CenturyLink Q4 2019 Earnings: Better Off Waiting? Feb 12, 2020
Equinix Q4 2019 Earnings: PMs vs. Analysts Feb 12, 2020
ADP Innovation Day: Good Now, (Hopefully) Great Later Feb 11, 2020
Omnicom: Same As It Ever Was Feb 11, 2020
Telecom and Cable & Satellite Marketing Deck Feb 10, 2020
GPN: Model update to reflect revised segment reporting structure and non-GAAP reporting methodology Feb 10, 2020
Media Comps 2020-02-10 Feb 10, 2020
Communications Infrastructure Comps 2020-02-10 Feb 10, 2020
Telecom Cable Satellite Comps 2020-02-10 Feb 10, 2020
DXC 3Q20: The Touchstone – FY22 Free Cash Flow Feb 7, 2020
Fox: The Page Has Been Turned Feb 6, 2020
Cognizant 4Q19: The Reacceleration of Revenue Growth – Bull vs. Bear Feb 6, 2020
CoreSite Q4 2019 Earnings: Is the Turn Finally Coming? Feb 6, 2020
Twitter: Numbers Get Cut As Stock Races Up! Feb 6, 2020
T-Mobile Q4 2019 Earnings: Heads-I-Win/Tails-I-Win, Redux Feb 6, 2020
Disney: The Disney Difference Feb 5, 2020
Snap: Closing the Monetization Gap Feb 5, 2020
Fiserv 4Q19: Hard to Please Feb 5, 2020
Comcast: Less than Zero? Upgrading To Buy Feb 4, 2020
Alphabet: To Be Real Feb 4, 2020
Zayo: Q2 F2020 Earnings: Good Night, and Good Luck Feb 4, 2020
U.S. Media: Get Those Lifeboats Ready Feb 3, 2020
Communications Infrastructure Comps 2020-02-03 Feb 3, 2020
Media Comps 2020-02-03 Feb 3, 2020
Telecom Cable Satellite Comps 2020-02-03 Feb 3, 2020
Visa 1Q20: Looking for Something to Get Excited About? Try Visa Direct Jan 31, 2020
Charter Q4 2019 Earnings: Wireless Manifest Destiny Jan 31, 2020
Cogent: What a Difference Six Weeks Makes… Downgrading to Sell, TP $56 Jan 30, 2020
Mastercard 4Q19: Can Mastercard Do a 15+% Revenue Growth Three-Peat? Jan 30, 2020
ADP 2Q20: Soft Bookings and PEO WSEs, Strong Retention – How Doable is the Second Half of 2020? Jan 30, 2020
Facebook: The Long & Winding Road Up and to the Right Jan 30, 2020
PayPal 4Q19: Cleans Up Good Jan 30, 2020
Verizon Q4 2019 Earnings: Bucking Some Trends… Getting Bucked by Others Jan 30, 2020
IT Services & Processors 2020: Hurry Up and Wait Jan 29, 2020
Quarterly SVOD Tracker: The First Battle Jan 29, 2020
Communications Infrastructure 2020-01-27 Jan 27, 2020
Media Internet Comps 2020-01-27 Jan 27, 2020
Telecom Cable Satellite Comps 2020-01-27 Jan 27, 2020
Sprint CQ4 2019 Earnings: What’s Left to Say? Jan 27, 2020
AT&T Q4 2019 Earnings: Two Clocks Jan 27, 2020
PayPal + UnionPay: Inching Along in the Right Direction Jan 24, 2020
CIO Survey Conference Call Deck Jan 24, 2020
CenturyLink: Understanding the Pros and Cons of RDOF… Mostly Cons but With a Nice $500M Win Jan 23, 2020
Comcast Q4 2019 Earnings: Proud as a Peacock Jan 23, 2020
IBM 4Q19: The More Things Change, the More They Stay the Same Jan 22, 2020
IT Services: New CIO Survey Results Point to Stable IT Spending Outlook and Maturation of Cloud-Digital trend Jan 21, 2020
U.S. Towers: The Case for Crown Castle? Jan 21, 2020
Media Internet Comps 2020-01-21 Jan 21, 2020
Communications Infrastructure Comps 2020-01-21 Jan 21, 2020
Telecom Cable Satellite Comps 2020-01-21 Jan 21, 2020
2020-01-21 CIO Survey Jan 21, 2020
MN Quarterly SVOD Tracker: The First Battle Jan 17, 2020
Conference Call – U.S. Media: 20-20 Vision, This Time is Different Jan 17, 2020
AT&T: How Bad Could It Get for WarnerMedia? Jan 16, 2020
Visa + Plaid: A Rare Beast Jan 16, 2020
U.S. Media: 20-20 Vision, This Time is Different Jan 15, 2020
ViacomCBS: Stuck In The Middle? Initiate at Neutral Jan 15, 2020
Payments 2020: Fistfights on a Freight Train Jan 14, 2020
Vivint Lunch Slides Jan 14, 2020
Media Comps 2020-01-13 Jan 13, 2020
Internet Comps 2020-01-13 Jan 13, 2020
Telecom Cable Satellite Comps 2020-01-13 Jan 13, 2020
Communications Infrastructure Comps 2020-01-13 Jan 13, 2020
Payments, Processors, and IT Services: Our Recent Downgrades of FIS, FISV, ACN, and ADP in 40 Slides Jan 10, 2020
Taking a Breather - Downgrading FIS, FISV, ACN, and ADP Conference Call Slides Jan 9, 2020
Altice USA: Is Altice USA Still a Buy? Jan 7, 2020
Payments, Processors, and IT Services: Taking a Breather - Downgrading FIS, FISV, ACN, and ADP Jan 7, 2020
Media Comps 2020-01-06 Jan 6, 2020
Communications Infrastructure Comps 2020-01-06 Jan 6, 2020
Internet Comps 2020-01-06 Jan 6, 2020
Telecom Cable Satellite Comps 2020-01-06 Jan 6, 2020
Media Comps 2019-12-30 Dec 30, 2019
Internet Comps 2019-12-30 Dec 30, 2019
Communications Infrastructure Comps 2019-12-30 Dec 30, 2019
Telecom Cable Satellite Comps 2019-12-30 Dec 30, 2019
Accenture 1Q20: Simple Ain’t Easy – Forecasting Accenture’s Revenue Growth Dec 20, 2019
Payments, Processors, and IT Services: As we close the door on 2019, and open the door on 2020... Dec 20, 2019
Square: GPV Growth, PoS Innovations, Direct Deposit – Takeaways From Meetings with Square’s CFO Dec 19, 2019
U.S. Media: Life During Wartime Dec 19, 2019
Paychex 2Q20: Defying Sluggish Employment Growth, Management Solutions Growth Creeps Above 5% Dec 19, 2019
Visa: RTP Strategy, New Payment Flows, Other Growth Horizons – Takeaways From Meetings with Visa’s CFO Dec 18, 2019
Broadband Q3 2019: Revisiting Competitive Dynamics Dec 16, 2019
Cogent: What Should We Make of This Extremophile? Dec 16, 2019
PayPal: Growing Scale and Engagement – Takeaways From Breakfast with PayPal’s CEO Dec 16, 2019
Media Comps 2019-12-16 Dec 16, 2019
Telecom Cable Satellite Comps 2019-12-16 Dec 16, 2019
Internet Comps 2019-12-16 Dec 16, 2019
Communications Infrastructure Comps 2019-12-16 Dec 16, 2019
U.S. Advertising: Past the Tipping Point Dec 13, 2019
Payments: Top Trends and Recent Developments in 30 Slides Dec 11, 2019
GPN, FISV, FIS: Issuer Processing – The Wingman Dec 9, 2019
Data Centers: 2020 Outlooks and the Search for Edge Dec 9, 2019
Media Comps 2019-12-09 Dec 9, 2019
Telecom Cable Satellite Comps 2019-12-09 Dec 9, 2019
Communications Infrastructure Comps 2019-12-09 Dec 9, 2019
Internet Comps 2019-12-09 Dec 9, 2019
2019-12-09 Meeting with John Stratton Dec 9, 2019
Big Tech, Neobanks , and Many More Top Trends and Recent Developments in Payments (Slides) Dec 6, 2019
Wireless Q3 2019: Cable Starts to Matter Dec 4, 2019
Paychex: Building the New Paychex – Takeaways from Lunch with Paychex’s CEO, CFO, and Product Executives Dec 4, 2019
Telecom Internet Satellite Comps 2019-12-02 Dec 2, 2019
Communications Infrastructure Comps 2019-12-02 Dec 2, 2019
U.S. Pay TV and U.S. Media: Cord-Cutting Summit 2019 Takeaways Dec 2, 2019
Media Comps 2019-12-02 Dec 2, 2019
Internet Comps 2019-12-02 Dec 2, 2019
Internet Infrastructure Marketing Deck Dec 1, 2019
Towers Marketing Deck Dec 1, 2019
Data Center Marketing Deck Dec 1, 2019
CenturyLink: Definitely Maybe Nov 25, 2019
Payments: Big Tech, Neobanks, and Many More – Top Trends and Recent Developments in Payments Nov 25, 2019
Online Advertising: Screw DAUs, Follow the Money Nov 25, 2019
Media Comps 2019-11-25 Nov 25, 2019
Telecom Cable Satellite Comps 2019-11-25 Nov 25, 2019
Communications Infrastructure Comps 2019-11-25 Nov 25, 2019
AT&T - What Do You Have to Believe - Conference Call Slides Nov 22, 2019
PayPal + Honey: You Can Catch More Flies… Nov 21, 2019
Accenture: Digital at Scale – Takeaways from Breakfast with Accenture’s New CEO Nov 20, 2019
AT&T: What Do You Have to Believe? Downgrading to Sell, Target Price $30 Nov 19, 2019
HBO Max: The Big Bang or “A Show About Nothing”? Nov 18, 2019
Media Comps 2019-11-18 Nov 18, 2019
Internet Comps 2019-11-18 Nov 18, 2019
Telecom Cable Satellite Comps 2019-11-18 Nov 18, 2019
Communications Infrastructure Comps 2019-11-18 Nov 18, 2019
Viacom: Less Drama, More Answers Nov 15, 2019
Payments, Processors, and IT Services: 3Q19 Roundup - Top Sector Themes and Updated Stock Preferences Nov 15, 2019
Q3 2019 Cord-Cutting Monitor: Live Is Dead Nov 13, 2019
CBS: The Good Fight Nov 13, 2019
Q3 2019 Cord-Cutting Live is Dead Conference Call Deck Nov 13, 2019
DXC 2Q20: Those Stubborn, Exasperating, Declining Revenues Nov 12, 2019
Final Cord-Cutting Agenda Nov 12, 2019
Cognizant: “Evolve, Not Fix” – Takeaways from Lunch with Cognizant’s CEO & CFO Nov 11, 2019
Internet Comps 2019-11-11 Nov 11, 2019
Communications Infrastructure Comps 2019-11-11 Nov 11, 2019
Media Comps 2019-11-11 Nov 11, 2019
Telecom Cable Satellite Comps 2019-11-11 Nov 11, 2019
Disney: It Just Doesn't Matter Nov 8, 2019
Fox: Please Keep Turning the Page Nov 7, 2019
Square 3Q19: A Little Painful to Get There, But So… Much… Better Nov 7, 2019
Fiserv 3Q19: Nope, Not a Typo – Merchant Acquiring is Growing 10% Nov 7, 2019
Cogent Q3 2019 Earnings: Revenue vs. Margins Nov 7, 2019
Dish Q3 2019 Earnings: The Pay TV Rorschach Test Nov 7, 2019
Discovery: Moving On To What Comes Next Nov 7, 2019
Cable One Q3 2019 Earnings: What's Embedded in CABO's 16x (16x!) EBITDA Multiple? Nov 7, 2019
Cinemark: Is It Time to Worry About Streaming Yet? Nov 6, 2019
FIS 3Q19: The All-Around Athlete in eComm Nov 6, 2019
CenturyLink Q3 2019 Earnings: Upside Surprise? Nov 6, 2019
Zayo Q1 F2020 Earnings: A Walk Down Memory Lane Nov 6, 2019
Altice USA Q3 2019 Earnings: What Could Derail the Rally? Could This? Nov 5, 2019
CenturyLink: Watch for These Two Items in Q3 2019 Earnings Nov 4, 2019
Sprint CQ3 2019 Earnings: The SoftBank Problem Nov 4, 2019
Internet Comps 2019-11-04 Nov 4, 2019
Media Comps 2019-11-04 Nov 4, 2019
Telecom Cable Satellite Comps 2019-11-04 Nov 4, 2019
Communications Infrastructure Comps 2019-11-04 Nov 4, 2019
QTS Q3 2019 Earnings: Mr. Consistent Nov 4, 2019
AMCX: No Man’s Land (Redux) Nov 1, 2019
GPN 3Q19: A Peek Around the Corner at the New Global Payments Nov 1, 2019
Facebook: Is it $10 for ’20? Oct 31, 2019
ADP 1Q20: Market-related or Idiosyncratic? Predicting Performance of the PEO Oct 31, 2019
American Tower Q3 2019 Earnings: Reading the Tea Leaves Oct 31, 2019
CoreSite Q3 2019 Earnings: Like it Never Even Happened Oct 31, 2019
U.S. Media: What’s Even Worse Than “Freaking Ugly”? Oct 30, 2019
Mastercard 3Q19: Navigating eCommerce – the Atropa Belladonna of Payments Oct 30, 2019
Equinix Q3 2019 Earnings: Valuation and Operations Oct 30, 2019
CyrusOne Q3 2019 Earnings: One Year Later Oct 30, 2019
Alphabet: Hello World Oct 29, 2019
Digital Realty Q3 2019 Earnings: Doubling Down on Europe by Acquiring Interxion Oct 29, 2019
WPP: Better Than Zero Oct 28, 2019
AT&T Q3 2019 Earnings: Hope Is Not a Strategy Oct 28, 2019
Media Comps 2019-10-28 Oct 28, 2019
Internet Comps 2019-10-28 Oct 28, 2019
Communications Infrastructure Comps 2019-10-28 Oct 28, 2019
Telecom Cable Satellite Comps 2019-10-28 Oct 28, 2019
T-Mobile Q3 2019 Earnings: The Very Real Cost of Waiting... And Waiting... And Waiting Oct 28, 2019
SBA Q3 2019 Earnings: Tower Preppers Oct 28, 2019
Visa 4Q19: “A Digital Wallet By Any Other Name…” Visa’s Strategy to Make Friends with FinTechs Oct 25, 2019
Charter Q3 2019 Earnings: Is Charter’s New Pricing a One-Timer, or a Sign of a Change in Strategy? Oct 25, 2019
Cord Cutting Summit Agenda Oct 25, 2019
Verizon Q3 2019 Earnings: Is This as Good as It Gets? Oct 25, 2019
PayPal 3Q19: Yes, It is (Really, Finally) Happening - An Investor’s Guide to the eBay Roll-off Oct 24, 2019
Comcast Q3 2019 Earnings: A Divergence of Fortunes Oct 24, 2019
Twitter: A Vote of No Confidence; Maintain Sell, new PT Oct 24, 2019
Interpublic: Managing Through the Losses? Oct 23, 2019
Snap: The Shock Factor is Wearing Off Oct 23, 2019
Disney: Why So Complicated – Part II Oct 23, 2019
Online Advertising: Like a Knife Through Butter Oct 21, 2019
Internet Comps 2019-10-21 Oct 21, 2019
Communications Infrastructure Comps 2019-10-21 Oct 21, 2019
Media Comps 2019-10-21 Oct 21, 2019
Telecom Cable Satellite Comps 2019-10-21 Oct 21, 2019
ViacomCBS: Can’t Believe the S-4 Oct 18, 2019
U.S. Wireless: The 5G Elephant in the Room Oct 17, 2019
Netflix: Look Down, Look Down Oct 17, 2019
IBM 3Q19: Underwhelming and Complicated. Looking Ahead…A Scorecard for IBM’s Success in 2020 Oct 17, 2019
Crown Castle: Dimensioning a Possible Restatement Oct 17, 2019
Omnicom: Winning Is Everything? Oct 16, 2019
Crown Castle Q3 2019 Earnings: Did We Already Get Guidance? Oct 16, 2019
Data Centers: Love Is in the Air… Musings on M&A Oct 15, 2019
ADP, PAYX: In a World of Tech-Enabled HR Services, Do ADP & Paychex Win or Lose? Oct 15, 2019
MN Quarterly SVOD Tracker: The Calm Before the Storm Oct 14, 2019
Media Comps 2019-10-14 Oct 14, 2019
Telecom Cable Satellite Comps 2019-10-14 Oct 14, 2019
Communications Infrastructure Comps 2019-10-14 Oct 14, 2019
Internet Comps 2019-10-14 Oct 14, 2019
Advertising Agencies: Mind the Gap...Part II Oct 11, 2019
Payments: eCommerce Deep Dive in 30 Slides Oct 11, 2019
Payments: The Tidal Wave Slides Oct 10, 2019
DXC: Hitting the Reset Button... At What Point Does it Become an Attractive Investment? Oct 8, 2019
DXC Deep Dive Lunch Slides Oct 8, 2019
FOXA: Please Turn the Page Oct 7, 2019
Telecom Cable Satellite Comps 2019-10-07 Oct 7, 2019
Communications Infrastructure Comps 2019-10-07 Oct 7, 2019
Media Comps 2019-10-07 Oct 7, 2019
Internet Comps 2019-10-07 Oct 7, 2019
Time to Factor In Higher Margins Deck Oct 7, 2019
Towers ROIC: Scouring the Globe for Insights and Opportunities Oct 3, 2019
Paychex 1Q20: Strikingly Sunny Skies…Do They Stay Sunny Through a Macro Downturn? Oct 3, 2019
U.S. Cable: It’s Time to Factor in Higher Margins; Raising Estimates and TPs for CHTR, ATUS, CMCSA, and CABO Oct 2, 2019
Payments: The Tidal Wave – Our Proprietary eCommerce Forecast and Implications for the Payments Sector Oct 2, 2019
Snap: Can Lightning Strike Twice? Part II, It's Complicated. Oct 2, 2019
Snap: Can Lightning Strike Twice? Oct 1, 2019
Internet Comps 2019-09-30 Sep 30, 2019
Telecom Cable Satellite Comps 2019-09-30 Sep 30, 2019
Communications Infrastructure Comps 2019-09-30 Sep 30, 2019
Media Comps 2019-09-30 Sep 30, 2019
Dish Network: Revisiting the Short (or Long?) Thesis Sep 27, 2019
Accenture 4Q19: The Final Worry – Macroeconomic Exposure Sep 27, 2019
Sports and Pay TV Deck Sep 26, 2019
V, MA, FIS, FISV: B2B Payments – Big? Yes. Lots of Inertia? Double-Yes. And in Need of a Leader. Sep 26, 2019
ADP: The Long-Term Bull Case – ADP’s Unheralded Technology Leadership (Yes, Really) Sep 23, 2019
Sports in the U.S.: Where Will This Obsession Lead Us? Sep 23, 2019
Internet Comps 2019-09-23 Sep 23, 2019
Telecom Cable Satellite Comps 2019-09-23 Sep 23, 2019
Communications Infrastructure Comps 2019-09-23 Sep 23, 2019
Media Comps 2019-09-23 Sep 23, 2019
MA: Laying the Foundation for the Next 20 Years – Mastercard’s Expansion into New Payment Flows Sep 18, 2019
U.S. Media: The Paradox of Agencies and Advertising Sep 17, 2019
PYPL: The Bumpy Road to Greener Pastures - Navigating PayPal in 2020 Sep 16, 2019
Internet Comps 2019-09-16 Sep 16, 2019
Communications Infrastructure Comps 2019-09-16 Sep 16, 2019
Media Comps 2019-09-16 Sep 16, 2019
Telecom Cable Satellite Comps 2019-09-16 Sep 16, 2019
2019-09-11 Ligado Lunch Meeting Notes Sep 12, 2019
Wireless Q2 2019: TINA Loves Telecom. So Does Elliott. Sep 10, 2019
Payments, Processors, & IT Services: Fall 2019 Sector Outlook (in 50 charts) Sep 9, 2019
ViacomCBS: The Hate You Give Sep 9, 2019
Media Comps 2019-09-09 Sep 9, 2019
Internet Comps 2019-09-09 Sep 9, 2019
Telecom Cable Satellite Comps 2019-09-09 Sep 9, 2019
Communications Infrastructure Comps 2019-09-09 Sep 9, 2019
Square: A Deep Dive – The Bull Thesis in 30 Slides Sep 5, 2019
U.S. Media: Ready or Not, Here Comes the NFL! Sep 5, 2019
Fall 2019 Sector Outlook Slides Sep 5, 2019
Internet Infrastructure: Hard Knock Life… What Can ROIC Teach Us About Value Creation in Tough Times? Sep 4, 2019
A Deep Dive on Square Slides Sep 4, 2019
SQ: Bye-bye Caviar, Hello Cash App. Upgrading to Buy Sep 3, 2019
Broadband: The Growth Rate Just Accelerated… Sort of Sep 3, 2019
U.S. Advertising: Same Question, Same Answer Sep 3, 2019
Media Comps 2019-09-03 Sep 3, 2019
Telecom Cable Satellite Comps 2019-09-03 Sep 3, 2019
Internet Comps 2019-09-03 Sep 3, 2019
Communications Infrastructure Comps 2019-09-03 Sep 3, 2019
Media & Internet Marketing Deck Sep 1, 2019
Media Comps 2019-08-26 Aug 26, 2019
Internet Comps 2019-08-26 Aug 26, 2019
Communications Infrastructure Comps 2019-08-26 Aug 26, 2019
Telecom Cable Satellite Comps 2019-08-26 Aug 26, 2019
Zayo Q4 F2019 Earnings: What’s the Read Across? Aug 21, 2019
Payments, Processors, and IT Services: 2Q19 Roundup - Top Sector Themes and Updated Stock Preferences Aug 19, 2019
Alphabet: What Lies Beneath the Clouds Aug 19, 2019
Internet Comps 2019-08-19 Aug 19, 2019
Media Comps 2019-08-19 Aug 19, 2019
Communications Infrastructure Comps 2019-08-19 Aug 19, 2019
Telecom Cable Satellite Comps 2019-08-19 Aug 19, 2019
Q2 2019 Cord-Cutting Monitor: The Case for Things Getting Better (Yes, Better) from Here Aug 15, 2019
CBS & Viacom: Didn’t See That Coming! Aug 14, 2019
WPP: One Step at a Time Aug 12, 2019
Media Comps 2019-08-12 Aug 12, 2019
Internet Comps 2019-08-12 Aug 12, 2019
Telecom Cable Satellite Comps 2019-08-12 Aug 12, 2019
Communications Infrastructure Comps 2019-08-12 Aug 12, 2019
CBS & Viacom: The Last Waltz Aug 9, 2019
DXC 1Q20: Plan B Just Got More Urgent. Can They Sell the Whole Damn Thing? Aug 9, 2019
Fox: Here's to the First of Many Aug 8, 2019
IBM: The Red Hat Strategy and Numbers Are In. Meanwhile, Cloud Growth is Decelerating. Now What? Aug 8, 2019
Cogent Q2 2019 Earnings: Widows and Orphans Aug 8, 2019
Disney: Channeling Our Inner Avril Lavigne Aug 7, 2019
FIS 2Q19: Off to the Races Aug 7, 2019
Cable One Q2 2019 Earnings: 50% Margins Are Beginning to Look More Like a Floor than a Ceiling Aug 7, 2019
CenturyLink Q2 2019 Earnings: The Storm Before the Calm? Aug 7, 2019
Discovery: Two Years Later Aug 6, 2019
Communications Infrastructure Comps 2019-08-05 Aug 5, 2019
Internet Comps 2019-08-05 Aug 5, 2019
Media Comps 2019-08-05 Aug 5, 2019
Telecom Cable Satellite Comps 2019-08-05 Aug 5, 2019
Cognizant 2Q19: Dear Brian, Six Metrics We Think Really Matter for Cognizant Aug 2, 2019
Square 2Q19: Wherefore Art Thou, Cash App? Aug 2, 2019
Sprint Q2 2019 Earnings: What the State AGs See Aug 2, 2019
Cinemark: Got To Give Credit Where It’s Due Aug 2, 2019
ADP 4Q19: Seventy Down, A Few More to Go Aug 1, 2019
Verizon Q2 2019 Earnings: What’s Left of the Bull Case? Aug 1, 2019
Mastercard 2Q19: A New Partner Every Three Days Jul 31, 2019
Global Payments 2Q19: Hurry Up and Wait Jul 31, 2019
American Tower Q2 2019 Earnings: Can Anything Stop American Tower? Jul 31, 2019
AMCX: No Man’s Land, Tough Trends in the Price Jul 31, 2019
Altice USA Q2 2019 Earnings: The Margin Story Keeps Getting Better and Better Jul 31, 2019
Equinix Q2 2019 Earnings: A Different List of Items to Focus On Than Others Jul 31, 2019
CyrusOne Q2 2019 Earnings: Siamese Dream Jul 31, 2019
Digital Realty Q2 2019 Earnings: Home and Abroad, Puts and Takes Jul 30, 2019
Twitter: Same Growth, Twice the Price Jul 29, 2019
U.S. Media: Man the Lifeboats Jul 29, 2019
Communications Infrastructure Comps 2019-07-29 Jul 29, 2019
Internet Comps 2019-07-29 Jul 29, 2019
Media Comps 2019-07-29 Jul 29, 2019
Telecom Cable Satellite Comps 2019-07-29 Jul 29, 2019
Dish Network Q2 ’19 Earnings: Has the Satellite Business Finally Found a Bottom? And Would Anyone Care? Jul 29, 2019
SBA Q2 2019 Earnings: Will They or Won’t They? Jul 29, 2019
QTS Q2 2019 Earnings: Marching to the Beat of a Different Drummer? Jul 29, 2019
Alphabet: Winning by TKO Jul 26, 2019
Fiserv, First Data 2Q19: The Pre-Party Jul 26, 2019
Charter Q2 2019 Earnings: The Trouble with Simple Stories Jul 26, 2019
Facebook: What a Difference a Year Makes Jul 25, 2019
PayPal 2Q19: $10 B Burning a Hole in the Corporate Pocket – Who PayPal Might Buy Next Jul 25, 2019
Winners and Losers in the T-Mobile/Sprint/Dish Deal: A Summary. Downgrading DISH to Sell; Target Price $30 Jul 25, 2019
Comcast Q2 2019 Earnings: On the One Hand… On the Other Hand Jul 25, 2019
T-Mobile Q2 2019 Earnings: Wait, What? Earnings? Jul 25, 2019
Snap: Living Up to the Hype Jul 24, 2019
Interpublic: Gearing Up For 2020? Jul 24, 2019
Visa 3Q19: The Other Third Anniversary – Visa’s Long Road Ahead in Europe Jul 24, 2019
AT&T Q2 2019 Earnings: The Uneasy Equilibrium Jul 24, 2019
CoreSite Q2 2019 Earnings: The Light at the End of the Tunnel? Jul 24, 2019
Data Centers: Implications of the Hyperscale Leasing Slowdown and a Close Look at Valuation Jul 22, 2019
Online Advertising: Bringing the Heat Jul 22, 2019
Communications Infrastructure Comps 2019-07-22 Jul 22, 2019
Internet Comps 2019-07-22 Jul 22, 2019
Telecom Cable Satellite Comps 2019-07-22 Jul 22, 2019
Media Comps 2019-07-22 Jul 22, 2019
T-Mobile: Is “Standalone TMUS” Now the Best Case Scenario? Jul 19, 2019
Omnicom: Are They Verizon and Everyone Else AT&T? Jul 18, 2019
Netflix: Doubters of the World Unite! Jul 18, 2019
IBM 2Q19: Just. In. Time. Red Hat Enters, as Cloud Growth Sputters Jul 18, 2019
Crown Castle Q2 2019 Earnings: A Messy Beat and Raise Jul 17, 2019
CBS & Viacom: How's Your Summer Going? Jul 16, 2019
FB, V, MA, PYPL: Libra, Libra, Libra – Answers to Your Top 25 FAQs Jul 16, 2019
FB, V, MA, PYPL: Libra, Libra, Libra – Answers to Your Top 25 FAQs Jul 16, 2019
Advertising Agencies: Putting a Price on Data Jul 15, 2019
MN Quarterly SVOD Tracker: Is It Too Late? Jul 15, 2019
Communications Infrastructure Comps 2019-07-15 Jul 15, 2019
Telecom Cable Satellite Comps 2019-07-15 Jul 15, 2019
Media Comps 2019-07-15 Jul 15, 2019
Internet Comps 2019-07-15 Jul 15, 2019
GPN + TSYS: The New Global Payments – “Third is the one with the…?” Jul 12, 2019
U.S. Cable: Could Video Subscriber Losses Eventually Push Cable Margins Up to 50%? Jul 9, 2019
Disney: Circle Of Life Jul 9, 2019
SQ, PYPL: Is it Worth 40% of Valuation? A Deep Dive into Square’s Cash App Jul 8, 2019
U.S. Towers: Valuation Ruminations… Increasing Target Prices, But Downgrading SBA to Neutral Jul 8, 2019
Communications Infrastructure Comps 2019-07-08 Jul 8, 2019
Telecom Cable Satellite Comps 2019-07-08 Jul 8, 2019
Media Comps 2019-07-08 Jul 8, 2019
Internet Comps 2019-07-08 Jul 8, 2019
Snap: As Smooth as a Baby’s Face? Jul 1, 2019
Communications Infrastructure Comps 2019-07-01 Jul 1, 2019
Internet Comps 2019-07-01 Jul 1, 2019
Media Comps 2019-07-01 Jul 1, 2019
Telecom Cable Satellite Comps 2019-07-01 Jul 1, 2019
ACN 3Q19: 31 Deals in 18 Months - Spotlight on M&A Jun 28, 2019
MN State of the Industry 2019 Group Lunch Jun 28, 2019
U.S. Telecommunications: Does 5G Put Verizon’s “Nation’s Best Network” Positioning at Risk? Jun 27, 2019
Paychex 4Q19: Unriddling the PEO Jun 27, 2019
Alphabet: On Shakier Ground? Jun 24, 2019
Communications Infrastructure Comps 2019-06-24 Jun 24, 2019
Internet Comps 2019-06-24 Jun 24, 2019
Media Comps 2019-06-24 Jun 24, 2019
Telecom Cable Satellite Comps 2019-06-24 Jun 24, 2019
Netflix: The Great International RPU Debate Jun 20, 2019
Payments: Digital Wallet Wars Escalate – New 1000+ Respondent Consumer Survey on Usage of 14 Wallets Jun 20, 2019
FB, V, MA, PYPL: Libra Unveiled – Big Day for Crypto, Nice-To-Have for FB, Important Experiment for Payments Jun 19, 2019
FB, V, MA, PYPL: Libra Unveiled – Big Day for Crypto, Nice-To-Have for FB, Important Experiment for Payments Jun 19, 2019
Internet Comps 2019-06-17 Jun 17, 2019
Communications Infrastructure Comps 2019-06-17 Jun 17, 2019
Media Comps 2019-06-17 Jun 17, 2019
Telecom Cable Satellite Comp Sheet 2019-06-17 Jun 17, 2019
Payments: Takeaways from Discussions with Stripe, REPAY, and Marqeta at MN's PPI Summit Jun 14, 2019
Twitter: A Problem of Its Own Making Jun 13, 2019
CenturyLink: Ignore the Shiny New Objects Jun 12, 2019
Payments: Takeaways from Discussions with the CEOs of American Express and Discover at MN's PPI Summit Jun 12, 2019
Facebook: Friending Facebook Again, Upgrade to Buy Jun 11, 2019
IT Services: Takeaways from Conversations with Cognizant's CFO and CGI's CEO at MN's PPI Summit Jun 11, 2019
Paychex: Four Takeaways from our Fireside Chat with Paychex’s CFO during MN’s PPI Summit Jun 10, 2019
Communications Infrastructure Comps 2019-06-10 Jun 10, 2019
Internet Comps 2019-06-10 Jun 10, 2019
Telecom Cable Satellite Comps 2019-06-10 Jun 10, 2019
Media Comps 2019-06-10 Jun 10, 2019
Mastercard: Takeaways from Discussions with Mastercard’s President, NA at MN’s PPI Summit Jun 6, 2019
Visa: Takeaways from Discussions with Visa’s CEO at MoffettNathanson's PPI Summit Jun 6, 2019
U.S. Advertising: The One Exception? Jun 6, 2019
PayPal: Six Takeaways from Discussions with PayPal’s CEO during MN’s PPI Summit Jun 5, 2019
U.S. Broadband: Where Are AT&T Fiber’s Subscriber Gains Coming From? Jun 4, 2019
Fox: Fox Goes to Hollywood Jun 4, 2019
Telecom Cable Satellite Comps 2019-06-03 Jun 3, 2019
Internet Comps 2019-06-03 Jun 3, 2019
Communications Infrastructure Comps 2019-06-03 Jun 3, 2019
Media Comps 2019-06-03 Jun 3, 2019
U.S. Media: To Each Their Own? May 30, 2019
WarnerMedia: Raising the Curtain on Their DTC Plans May 29, 2019
Global Payments + TSYS: A Positive (and Necessary) Stepping Stone May 29, 2019
Communications Infrastructure Comps 2019-05-28 May 28, 2019
Internet Comps 2019-05-28 May 28, 2019
Media Comps 2019-05-28 May 28, 2019
Telecom Cable Satellite Comp Sheet 2019-05-28 May 28, 2019
DXC 4Q19: Time for Plan B, Part 2… Sell IP & BPS, Buy More Digital? May 24, 2019
2019 State of the Industry Conference Call Deck May 23, 2019
Initiating Coverage of FIS and Fiserv Slides May 22, 2019
FIS, FISV, WP, FDC: “When You Come to a Fork in the Road, Take It.” Initiating Coverage of FIS and Fiserv May 21, 2019
FIS, FISV, WP, FDC: “When You Come to a Fork in the Road, Take It.” Initiating Coverage of FIS and Fiserv [EXCERPT] May 21, 2019
Telecom Cable Satellite Comp Sheet 2019-05-20 May 20, 2019
Media Comps 2019-05-20 May 20, 2019
Internet Comps 2019-05-20 May 20, 2019
Communications Infrastructure Comps 2019-05-20 May 20, 2019
Payments Summit 2019 Agenda May 20, 2019
Payments, Processors, and IT Services: 1Q19 Roundup - Top Sector Themes and Updated Stock Preferences May 14, 2019
Viacom: Read the Fine Print May 13, 2019
Social Media Focus Group: SNAP Can’t Grow Up! May 13, 2019
Telecom Cable Satellite Comps 2019-05-13 May 13, 2019
Internet Comps 2019-05-13 May 13, 2019
Media Comps 2019-05-13 May 13, 2019
Communications Infrastructure Comps 2019-05-13 May 13, 2019
FB, V, MA, PYPL: Facebook’s Cryptocurrency Project Libra – How it Could Matter May 10, 2019
FB, V, MA, PYPL: Facebook’s Cryptocurrency Project Libra – How it Could Matter May 10, 2019
ADP: A Deep Dive - The Bull Thesis in 20 Slides May 9, 2019
IBM: A Deep Dive – The Bear Thesis in 20 Slides May 9, 2019
Disney: A Changing Narrative May 9, 2019
Cable One Q1 2019 Earnings: How Much Runway Is Left? May 9, 2019
Social Media Survey: What Are Users Saying? May 8, 2019
Cognizant 1Q19: Gravity Prevails, Just as a New CEO Enters. Now What? May 8, 2019
Zayo Q3 F2019 Earnings: Finding Mr. Right May 8, 2019
Media and Communications Updated Final Summit Agenda May 2019 May 8, 2019
CenturyLink Q1 2019 Earnings: Enough to Offset the Top Line? May 8, 2019
Q1 2019 Cord-Cutting Monitor: About that Lifeboat… May 7, 2019
Media and Communications Final Summit Agenda May 2019 May 7, 2019
Cinemark: What Will Disney Do With Its Box Office Clout? May 7, 2019
Sprint CQ1 2019 Earnings: What’s the Backup Plan? May 7, 2019
Inaugural Payments Summit Agenda May 6, 2019
Global Payments 1Q19: Who Might They Buy Next? May 6, 2019
Telecom Cable Satellite Comps 2019-05-06 May 6, 2019
Media Comps 2019-05-06 May 6, 2019
Internet Comps 2019-05-06 May 6, 2019
Communications Infrastructure Comps 2019-05-06 May 6, 2019
CBS: New CEO…New Disclosure? May 3, 2019
Worldpay 1Q19: Dear FIS, There’s Upside to Standalone Worldpay (In Addition to the Revenue Synergies) May 3, 2019
Dish Network Q1’19 Earnings: The Outlook is Brightening for Mid-Band… but the Road Ahead Remains Long May 3, 2019
American Tower Q1 2019 Earnings: Solid Results, But Will the Halo Effect Persist? May 3, 2019
ADP 3Q19: Resilient May 2, 2019
Square 1Q19: Demystifying Subscription & Services May 2, 2019
Cogent Q1 2019 Earnings: Assessing All-Time Highs May 2, 2019
Discovery: A Year Later May 2, 2019
Altice USA Q1 2019 Earnings: Still More Room to Run? May 2, 2019
ADP IBM Deep Dive Slides May 2, 2019
Mastercard 1Q19: Investing for the Future – A Peek Into the Next Horizon of Growth May 1, 2019
FDC 1Q19: Fiserv, Please Handle With Care May 1, 2019
Equinix Q1 2019 Earnings: Is Being Different Enough? May 1, 2019
AMC Networks: How Much Longer Does This Balancing Act Last? May 1, 2019
CyrusOne Q1 2019 Earnings: Managing Through Feast and Famine May 1, 2019
Alphabet: Deceleration Detective Service Apr 30, 2019
Charter Q1 2019 Earnings: Margins are the Next Leg of the Story Apr 30, 2019
QTS Q1 2019 Earnings: Thinking About Returns Apr 30, 2019
U.S. Media: Let The Good Times Stream? Apr 29, 2019
FISV-FDC and FIS-WP: Is the Answer Always 4%? Our Financial Technology Services Market Forecast Apr 29, 2019
WPP and Interpublic: Yin and Yang Apr 29, 2019
Telecom Cable Satellite Comps 2019-04-29 Apr 29, 2019
Media Comps 2019-04-29 Apr 29, 2019
Internet Comps 2019-04-29 Apr 29, 2019
Communications Infrastructure Comps 2019-04-29 Apr 29, 2019
SBA Q1 2019 Earnings: Contemplating What Happens if the Deal is No More Apr 29, 2019
Facebook: Checking Off The Concerns Apr 25, 2019
Visa 2Q19: Teflon Apr 25, 2019
PayPal 1Q19: Climbing the Tree Apr 25, 2019
Comcast Q1 2019 Earnings: Life after Disney Apr 25, 2019
T-Mobile Q1 2019 Earnings: Can the Merger be Saved? Apr 25, 2019
Digital Realty Q1 2019 Earnings: Searching for Clues Apr 25, 2019
Twitter: “So we've got lots of game(s) left to play” Apr 24, 2019
Snap: A Cinderella Story Apr 24, 2019
AT&T Q1 2019 Earnings: Searching for a Unifying Theory Apr 24, 2019
CoreSite Q1 2019 Earnings: Can It Stay at the Top of the ROIC Class? Apr 24, 2019
Verizon Q1 2019 Earnings: Has Verizon Bet on the Wrong (Spectrum) Horse? Apr 23, 2019
Online Advertising: In Search Of A Second Or Third Act? Apr 22, 2019
Communications Infrastructure Comps 2019-04-22 Apr 22, 2019
Internet Comps 2019-04-22 Apr 22, 2019
Telecom Cable Satellite Comps 2019-04-22 Apr 22, 2019
Media Comps 2019-04-22 Apr 22, 2019
Payments: The Adyen Threat – Takeaways From Adyen’s First Capital Markets Day Apr 18, 2019
Omnicom: Better Value Elsewhere Apr 17, 2019
Netflix: How Disney’s Entry Impacts the SVOD Market? Apr 17, 2019
IBM 1Q19: Meh Apr 17, 2019
What Does the Future of Streaming Look Like Slides Apr 17, 2019
6th Annual MoffettNathanson Media and Communications Agenda Apr 17, 2019
Crown Castle Q1 2019 Earnings: Valuation Triangulation Apr 17, 2019
Communications Infrastructure Comps 2019-04-15 Apr 15, 2019
Internet Comps 2019-04-15 Apr 15, 2019
Media Comps 2019-04-15 Apr 15, 2019
Telecom Cable Satellite Comps 2019-04-15 Apr 15, 2019
Disney: Worth the Wait Apr 12, 2019
Fiserv + First Data: Easier Synergies, Harder Long-term Growth – Our Revenue Outlook Apr 11, 2019
Disney: Getting Closer to Breaking Through Apr 9, 2019
Data Centers: Which Operators are Converting Growth into Value? Examining ROIC and Property-Level Yields Apr 8, 2019
FIS + Worldpay: 1+1=7.7%. Our Revenue Growth Outlook Apr 8, 2019
Netflix Survey: The Walmart of SVOD for a Reason Apr 8, 2019
Communications Infrastructure Comps 2019-04-08 Apr 8, 2019
Internet Comps 2019-04-08 Apr 8, 2019
Media Comps 2019-04-08 Apr 8, 2019
Telecom Cable Satellite Comps 2019-04-08 Apr 8, 2019
U.S. Advertising: A False Dichotomy? Apr 5, 2019
Broadband Success Partners Lightpath Deep Dive Apr 4, 2019
Film Studios: Having Their Cake And Eating It Too? Apr 4, 2019
U.S. Cable: What Would Happen in a Recession? Apr 3, 2019
The Merchant Acquirer M&A Chessboard - Who is Next? Apr 3, 2019
U.S. Media: The Value of Libraries, or in Other Words, What Ted Sarandos Knew Apr 2, 2019
Media Comps 2019-04-01 Apr 1, 2019
Internet Comps 2019-04-01 Apr 1, 2019
Communications Infrastructure Comps 2019-04-01 Apr 1, 2019
Telecom Cable Satellite Comps 2019-04-01 Apr 1, 2019
Accenture 2Q19: A Peek Behind the Curtain – How to Tell if an IT Services Firm is Good in Digital & Cloud Mar 29, 2019
Paychex 3Q19: 6%+ Organic Revenue Growth!? The Secular Drivers of HR Services Mar 28, 2019
FWBB A Peek Behind the Curtain Deck Mar 26, 2019
U.S. Communications Infrastructure, Telecom, & Cable: Add Macro and Margins to the List of Worries Mar 25, 2019
Payments: The Foundation of the Bull Thesis – Why We Have 5+ More Years of Double-Digit Volume Growth Mar 25, 2019
Communications Infrastructure Comps 2019-03-25 Mar 25, 2019
Telecom Cable Satellite Comps 2019-03-25 Mar 25, 2019
Media Comps 2019-03-25 Mar 25, 2019
Internet Comps 2019-03-25 Mar 25, 2019
Payments Processors IT Services Summit 2019 Agenda v1 Mar 25, 2019
IBM: Can IBM (+Red Hat) Catch Up In Cloud? Mar 22, 2019
Fixed Wireless Broadband: A Peek Behind the Curtain of Verizon’s 5G Rollout Mar 20, 2019
FIS + Worldpay: Bigger Now, Better Later Mar 19, 2019
Fox: Key Takeaways from the 10-Q and Day 1 Trading Mar 19, 2019
The Small Cell Report (Part III): Taking a Look Under the Hood Mar 18, 2019
Online Regulatory Outlook: The Unlikeliest Of Bedfellows Mar 18, 2019
Communications Infrastructure Comps 2019-03-18 Mar 18, 2019
Media Comps 2019-03-18 Mar 18, 2019
Internet Comps 2019-03-18 Mar 18, 2019
Telecom Cable Satellite Comps 2019-03-18 Mar 18, 2019
MN Lunch Deck Mar 15, 2019
New Fox Initiation: Clever As a Fox, Buy, Price Target $51 Mar 15, 2019
Video Cord-Cutting: Standing at the Crossroads (and I Believe I’m Sinkin’ Down) Mar 13, 2019
Standing at the Crossroads Conference Call Deck Mar 13, 2019
PayPal + MercadoLibre: A Base Hit, With Potential to be a Home Run Mar 12, 2019
Communications Infrastructure Comps 2019-03-11 Mar 11, 2019
Internet Comps 2019-03-11 Mar 11, 2019
Media Comps 2019-03-11 Mar 11, 2019
Telecom Cable Satellite Comps 2019-03-11 Mar 11, 2019
V, MA, PYPL: The Amazon Risk Mar 8, 2019
Equinix Lunch Slides Mar 8, 2019
Alphabet: Money for Nothing? A Dive Into CAPEX Trends Mar 7, 2019
Broadband Q4 2018: Broadband Growth Bounces Back… with Thanks to New Household Formation Mar 6, 2019
Payments, Processors, and IT Services: 4Q18 Roundup – Top Sector Themes and Updated Stock Preferences Mar 5, 2019
U.S. Media & Internet: Now Everyone Is A Winner? Mar 4, 2019
WPP: WPP Giveth, Competition Taketh Mar 4, 2019
Zayo: Plan A, Version 2.0… A Closer Look at zColo Mar 4, 2019
Communications Infrastructure Comps 2019-03-04 Mar 4, 2019
Telecom Cable Satellite Comps 2019-03-04 Mar 4, 2019
Internet Comps 2019-03-04 Mar 4, 2019
Comps Media Mar 4, 2019
AMC Networks: Not Walking Dead Yet Mar 1, 2019
Crypto BlockchainImmersion Takeaways Slides Mar 1, 2019
Square 4Q18: What Can Jump Start the Stock? Feb 28, 2019
V, MA, PYPL: Not Imminent, but Worth Watching – the Risk of Disruption from Cryptocurrencies and Blockchain Feb 27, 2019
Worldpay 4Q18: Playing Offense Feb 27, 2019
American Tower Q4 2018 Earnings: Can AMT Repeat? Feb 27, 2019
Cable One Q4 2018 Earnings: What are the Right Metrics for a Post-Video Cable MSO? Feb 27, 2019
U.S. Telecommunications: The Mystery Deepens Feb 26, 2019
Discovery: Talking Less, Doing More Feb 26, 2019
Payments, Processors, and IT Services: Blockchain and Cryptocurrency Immersion Company Meeting Takeaways Feb 25, 2019
Communications Infrastructure Comps 2019-02-25 Feb 25, 2019
Internet Comps 2019-02-25 Feb 25, 2019
Media Comps 2019-02-25 Feb 25, 2019
Telecom Cable Satellite Comps 2019-02-25 Feb 25, 2019
QTS Q4 2018 Earnings: Risk Reallocation Feb 25, 2019
Q4 2018 Cord-Cutting Monitor: Is It Time to Panic Yet? Feb 22, 2019
Cinemark: Looking Beyond The Volatility Feb 22, 2019
U.S. Media: Watching the Slow Death of Linear TV…Live Feb 21, 2019
Cogent Q4 2018 Earnings: Mulling Over Margins Feb 21, 2019
Altice USA Q4 2018 Earnings: Showing Up Feb 21, 2019
SBA Q4 2018 Earnings: Let the Good Times Roll Feb 21, 2019
CyrusOne Q4 2018 Earnings: Fueling Fears? Feb 20, 2019
Facebook: How’d They Do That? Feb 19, 2019
CenturyLink: Don't Fear the Reaper... Upgrading to Neutral, Lowering TP to $12 Feb 19, 2019
Communications Infrastructure Comps 2019-02-19 Feb 19, 2019
Internet Comps 2019-02-19 Feb 19, 2019
Media Comps 2019-02-19 Feb 19, 2019
Telecom Cable Satellite Comps 2019-02-19 Feb 19, 2019
CBS: Joining the Arms Race Feb 15, 2019
Interpublic: Winning The Zero Sum Game in 2018 Feb 14, 2019
GPN 4Q18: Looking Beyond 2019 - Where Does Global Payments Fit on the Merchant Acquiring Chessboard? Feb 14, 2019
Payments, Processors, and IT Services: Blockchain and Cryptocurrencies – State of the Industry Feb 13, 2019
Omnicom: The Calm Before The Storm? Feb 13, 2019
Dish Q4 2018 Earnings: Snakes or Alligators? Feb 13, 2019
CenturyLink Q4 2018 Earnings: Are Low Expectations the Key to Happiness? Feb 13, 2019
Equinix Q4 2018 Earnings: Steady as She Goes Feb 13, 2019
U.S. Media – Weekly Ratings: 2/4-2/10 Feb 12, 2019
Communications Infrastructure Comps 2019-02-11 Feb 11, 2019
Internet Comps 2019-02-11 Feb 11, 2019
Media Comps 2019-02-11 Feb 11, 2019
Telecom Cable Satellite Comps 2019-02-11 Feb 11, 2019
Twitter: Breaking Out The Checkbook Feb 8, 2019
DXC 3Q19: Tug-O-War Feb 8, 2019
Cognizant 4Q18: Seeing Some Green Shoots, Raising Target Price to $80 Feb 7, 2019
FDC 4Q18: Dear Fiserv, Five Things To Get Right With First Data Feb 7, 2019
T-Mobile Q4 2018 Earnings: Time to Consider Plan B? Feb 7, 2019
Zayo Q2 F2019 Earnings: Under the Gun Feb 7, 2019
Snap: A CFO’s Parting Gift Feb 6, 2019
Disney: Do The Right Thing Feb 6, 2019
21 Century Fox: A Step Closer To Breaking Out Feb 6, 2019
CoreSite Q4 2018 Earnings: What Happens on the Other Side of the Hump? Feb 6, 2019
Alphabet: Playing To Script Feb 5, 2019
Viacom: Two Questions, Please Feb 5, 2019
Digital Realty Q4 2018 Earnings: What’s the Disconnect? Feb 5, 2019
Telecom Cable Satellite Comps 2019-02-04 Feb 4, 2019
Communications Infrastructure Comps 2019-02-04 Feb 4, 2019
Internet Comps 2019-02-04 Feb 4, 2019
Media Comps 2019-02-04 Feb 4, 2019
Tractor Supply: Not A Hiding Place Feb 1, 2019
Mastercard 4Q18: Why We Believe in 16% Revenue Growth Feb 1, 2019
Visa 1Q19: Visa Direct – The Next Big Thing Feb 1, 2019
Amazon: The Cost of Margin Feb 1, 2019
Facebook: Coal, More Like Gold Jan 31, 2019
ADP 2Q19: How Do All the Lines Point Up? Deciphering Market Shares in HR Services Jan 31, 2019
PYPL 4Q18: TPV Growth – Primus inter pares B Jan 31, 2019
Charter Q4 2018 Earnings: Good Things Come to Those Who Wait Jan 31, 2019
Sprint CQ4 2018 Earnings: Do Politics Matter? Jan 31, 2019
AT&T Q4 2018 Earnings: Is Achieving “Flat EBITDA” in the Entertainment Group Enough? Jan 30, 2019
Amazon: 4Q Preview, Does Monetization Matter? Jan 29, 2019
Online Advertising: A Lump of Coal for Christmas? Jan 29, 2019
Verizon Q4 2018 Earnings: Is It Enough to Just NOT Be AT&T? Jan 29, 2019
U.S. Media: Key Takeaways from NATPE 2019 Jan 28, 2019
Internet Comps 2019-01-28 Jan 28, 2019
Telecom Cable Satellite Comps 2019-01-28 Jan 28, 2019
Media Comps 2019-01-28 Jan 28, 2019
Communications Infrastructure Comps 2019-01-28 Jan 28, 2019
Existing Home Sales: Does a 10% Drop Matter? Jan 25, 2019
U.S. Media: Will The Current Stability Last? Jan 25, 2019
Crypto Blockchain Agenda & Speaker Bios 2019 Jan 24, 2019
IBM 4Q18: Pushing On a String Jan 23, 2019
Comcast Q4 2018 Earnings: The Bull Bear Debate Jan 23, 2019
Crown Castle Q4 2018 Earnings: Recession Resistant? Jan 23, 2019
Communications Infrastructure Comps 2019-01-22 Jan 22, 2019
Media Comps 2019-01-22 Jan 22, 2019
Internet Comps 2019-01-22 Jan 22, 2019
Telecom Cable Satellite Comps 2019-01-22 Jan 22, 2019
Telecom and Cable Capital Spending Outlook, 2019 Jan 18, 2019
ICR Conference: 2019 Kickoff - Tariffs, Leases & Tax Reform Jan 18, 2019
Netflix: UNCH Jan 18, 2019
CBS & VIAB: What's the Downside? Upgrade CBS to Buy Jan 17, 2019
Payments 2019: You Are My Sunshine [EXCERPT] Jan 17, 2019
IT Services and Processors 2019: For Some, Surprisingly BAU. For Others, All About Plan B [EXCERPT] Jan 17, 2019
Sherwin-Williams: Wet Paint Jan 16, 2019
IT Services and Processors 2019: For Some, Surprisingly BAU. For Others, All About Plan B Jan 16, 2019
Snap: Flanked On All Sides Jan 16, 2019
First Data + Fiserv: Why Fiserv Investors Just Got a Really Good Deal Jan 16, 2019
IT Services and Processors 2019 Outlook Slides Jan 16, 2019
Economic Cycle Indicators Conference Call Slides Jan 15, 2019
IT Services: New CIO Survey Results Show A Positive 2019 Outlook For Overall IT and IT Services Spending Jan 14, 2019
Disney: How Does Disney “Work” in 2019? Jan 14, 2019
Communications Infrastructure Comps 2019-01-14 Jan 14, 2019
Telecom Cable Satellite Comps 2019-01-14 Jan 14, 2019
Media Comps 2019-01-14 Jan 14, 2019
Internet Comps 2019-01-14 Jan 14, 2019
2019 Outlook Call Jan 11, 2019
Payments Outlook Slides Jan 11, 2019
Target: Traffic Mojo, Margins Questioned Jan 11, 2019
Advertising Agencies: Mind The Gap Jan 10, 2019
Die Hard: A Sears Liquidation Could Double the Comp Boost in 2019 Jan 10, 2019
Payments 2019: You Are My Sunshine Jan 10, 2019
New Fox: Ask Enough and You Shall Receive Jan 9, 2019
Broadband Outlook 2019 Slides Jan 9, 2019
Sales, Tariffs, and Margins: The 2019 Battle Begins Jan 8, 2019
Broadband Outlook 2019: The Least Appreciated, but Most Important, Variable Jan 8, 2019
DXC + Luxoft: Plan B, Part 1, Check. Jan 8, 2019
U.S. Advertising: When Is It Time To Worry? Jan 7, 2019
Worldpay: From Very Good to Great. Upgrading to Buy Jan 7, 2019
Communications Infrastructure Comps 2019-01-07 Jan 7, 2019
Internet Comps 2019-01-07 Jan 7, 2019
Media Comps 2019-01-07 Jan 7, 2019
Telecom Cable Satellite Comps 2019-01-107 Jan 7, 2019
HILI Reaches New Mid-Cycle Low; Are We Off the Hook Yet? Jan 4, 2019
Dish Network: Downside Scenarios Are Finally Priced into the Stock… Upgrading from Sell to Neutral Jan 3, 2019
Communications Infrastructure Comps 2018-12-31 Dec 31, 2018
Internet Comps 2018-12-31 Dec 31, 2018
Telecom Cable Satellite Comps 2018-12-31 Dec 31, 2018
Media Comps 2018-12-31 Dec 31, 2018
Accenture 1Q19: As We Enter 2019, Will Secular Dominance Outweigh Cyclical Softness? Dec 21, 2018
CarMax: Value Gap Overhang Persists Dec 21, 2018
Paychex 2Q19: Secular PEO and HR Services Growth Offsets a Sluggish Core Dec 20, 2018
2018 Holiday Survey: Santa is a Seasoning Prime Member Dec 19, 2018
Best Buy: Enough Already. Sales and Margins Risks Pricing In Dec 19, 2018
Costco: Too Much Comp = Another Chance to Buy Dec 17, 2018
Communications Infrastructure Comps 2018-12-17 Dec 17, 2018
Internet Comps 2018-12-17 Dec 17, 2018
Telecom Cable Satellite Comps 2018-12-17 Dec 17, 2018
Media Comps 2018-12-17 Dec 17, 2018
Retail Comp Sheet 12/17/18 Dec 17, 2018
PayPal Deep Dive Slides Dec 17, 2018
2019 Best Ideas Slides Dec 14, 2018
November Retail Sales: Healthy on the Tough Comp Dec 14, 2018
Best Ideas For 2019 Dec 14, 2018
CarMax FY3Q Preview: Value Gap Inverting; Don’t Rush In Dec 13, 2018
Lowe's: Charging Ahead, Leveraging Up Dec 13, 2018
FB & PYPL - A Match Made in Heaven? What an Expanded FB/PYPL Partnership Might Look Like (and Why Now) Dec 13, 2018
FB & PYPL - A Match Made in Heaven? What an Expanded FB/PYPL Partnership Might Look Like (and Why Now) Dec 13, 2018
Netflix: OTT A-Go-Go Dec 11, 2018
CTSH: Model update for the changes in non-GAAP adjustment methodology beginning in FY19 Dec 11, 2018
3Q Earnings Wrap: Positioning for a Multichannel Holiday, and Beyond Dec 10, 2018
Lowe's: Analyst Day Preview, Refocusing on the Core Dec 10, 2018
U.S Telecommunications: What Is Already Priced In? Dec 10, 2018
Twitter: Are They Spending Enough? Dec 10, 2018
Media Comps 2018-12-10 Dec 10, 2018
Internet Comps 2018-12-10 Dec 10, 2018
Telecom Cable Satellite Comps 2018-12-10 Dec 10, 2018
Communications Infrastructure Comps 2018-12-10 Dec 10, 2018
Kroger: Turning the Cost Control Dial Dec 7, 2018
Home Depot: Execution Matters Dec 7, 2018
Bay Area Payments Tour Dec 7, 2018
Dollar General: Margin Gravity Taking Hold Dec 6, 2018
AutoZone: Commercial Kicker Gains Traction Dec 6, 2018
V, MA, PYPL: The Payments MVP’s, Part 3. 'P' = PayPal – The Bull Thesis in 20 Slides Dec 6, 2018
L.A. Trip Takeaways: Snapshots of the Revolution Dec 5, 2018
U.S. Cable: Disaggregating Cable Multiples by Product Line; Upgrading Cable One to Neutral Dec 4, 2018
V, MA, PYPL: The Payments MVP’s, Part 2. 'V' = Visa – The Bull Thesis in 20 Slides Dec 4, 2018
RH: Cleaning the Windshield, Visibility Still Limited Dec 4, 2018
Visa, Mastercard: The EC Cross-Border Interchange Settlement - We’ll Take It Dec 4, 2018
U.S. Media – Weekly Ratings: 11/26-12/2 Dec 4, 2018
Dollar Tree: In the Eye of the Tariff Hurricane Dec 3, 2018
U.S. Towers: Saying Bye to Two Old Friends… For Two Different Reasons. Downgrading AMT and CCI to Neutral Dec 3, 2018
Communications Infrastructure Comps 2018-12-03 Dec 3, 2018
Internet Comps 2018-12-03 Dec 3, 2018
Media Comps 2018-12-03 Dec 3, 2018
Telecom Cable Satellite Comps 2018-12-03 Dec 3, 2018
MA, V, PYPL: Meet the Payments MVP’s. ‘M’ = Mastercard – The Bull Thesis in 20 Slides Nov 30, 2018
HILI Drops Again, Cutting Numbers, Running to the Exits? Nov 29, 2018
Data Centers: Considering Headwinds and Tailwinds to Growth in 2019 Nov 29, 2018
Food Survey: Channel Shift Pressures Profit Nov 28, 2018
Visa, Mastercard: Revisiting the “Stroke of the Pen” Risk as Cross-Border Interchange Regulation Looms Nov 27, 2018
AT&T: Is the Bear Case Finally Priced In? Upgrading AT&T from Sell to Neutral; Target Price Unchanged at $28 Nov 26, 2018
Internet Comps 2018-11-26 Nov 26, 2018
Media Comps 2018-11-26 Nov 26, 2018
Telecom Cable Satellite Comps 2018-11-26 Nov 26, 2018
Communications Infrastructure Comps 2018-11-26 Nov 26, 2018
Target: Traffic Bullseye, Margins Miss the Mark… Nov 21, 2018
Lowe’s: The Kitchen Sink or Tear Down? Nov 21, 2018
Best Buy: 3Q18 Prepping For the Future, Proactive on the Tariffs Nov 21, 2018
Can Cognizant Really Re-accelerate Revenue Growth? Nov 20, 2018
U.S. Media & Internet: Forward Multiples Tell the Story Nov 20, 2018
Walmart: Traffic Matters, and So Does the Multiple Nov 19, 2018
CenturyLink: Checking In on the Sell Thesis… Maintain Rating, Lower TP to $16 Nov 19, 2018
Communications Infrastructure Comps 2018-11-19 Nov 19, 2018
Internet Comps 2018-11-19 Nov 19, 2018
Media Comps 2018-11-19 Nov 19, 2018
Telecom Cable Satellite Comps 2018-11-19 Nov 19, 2018
Payments, Processors, and IT Services: 3Q18 Roundup – Top Sector Themes and Updated Stock Preferences Nov 16, 2018
Amazon International Survey Slides Nov 16, 2018
Viacom: Bob the Builder Nov 16, 2018
DXC: Sooner Rather than Later, We Should Talk About Plan B Nov 15, 2018
October Retail Sales: Trying to Hold Near 4.5% to 5% Nov 15, 2018
Zayo: The Widowmaker… Still a Buy, Lower TP to $30 Nov 14, 2018
Advance Auto Parts: Is the Turnaround in the Stock? Nov 14, 2018
Home Depot: Fear Creates Opportunity Nov 14, 2018
HILI Drops to 2.4%. Tariffs and Demand Are Two Key Risks for 2019 Nov 12, 2018
3Q18 Earnings Preview: Sales, Tariffs, and Margins... The 2019 Battle Begins Nov 12, 2018
Communications Infrastructure Comps 2018-11-12 Nov 12, 2018
Internet Comps 2018-11-12 Nov 12, 2018
Telecom Cable Satellite Comps 2018-11-12 Nov 12, 2018
Media Comps 2018-11-12 Nov 12, 2018
WP 3Q18: In the Goldilocks Zone Nov 9, 2018
Disney: Disney On Ice Nov 9, 2018
Amazon International Survey: Will International Ever Make Money? Nov 8, 2018
Square 3Q18: Time to Dust Off the Bull vs. Bear Nov 8, 2018
Costco: It’s Still a Great Time to Be Costco Nov 8, 2018
Discovery: Something for Everyone Nov 8, 2018
CenturyLink Q3 2018 Earnings: Mind the Gap Nov 8, 2018
DXC 2Q19: The Anchor Drops Nov 7, 2018
Sherwin-Williams: Respect the Pricing Power Nov 7, 2018