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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMacro disturbances have opened up opportunities in greater Europe, says Harris Associates' HerroDavid Herro, Harris Associates CIO of international equities and portfolio manager, joins 'Money Movers' to discuss if Europe successfully completed a soft landing from inflation, how strong performance in the United States affects stocks in Europe, and much more.
Persons: Harris, David Herro Organizations: Harris Associates Locations: Europe, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors should approach Japan with caution despite market resurgence, says Harris' David HerroDavid Herro, Harris Associates portfolio manager, joins 'Closing Bell Overtime' to talk investing in Japan and why he thinks things might not be all they seem with the recent market resurgence.
Persons: Harris, David Herro David Herro Organizations: Harris Associates Locations: Japan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why Harris Associates' David Herro prefers the overseas marketDavid Herro, Harris Associates portfolio manager, joins 'Squawk on the Street' to discuss if central banks around the world will begin cutting interest rates, what makes the current time different for European markets, and more.
Persons: Harris, David Herro Organizations: Harris Associates
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe geopolitical events have 'shock impact' on share prices, says Harris Associates' David HerroDavid Herro, Harris Associates portfolio manager, joins 'Squawk on the Street' to discuss how Herro is processing what's happening in the Israel-Hamas conflict, if Herro is rethinking allocations in international markets, and more.
Persons: Harris, David Herro David Herro Organizations: Harris Associates Locations: Israel
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGerman companies looking attractive because of depressed valuations, says David HerroHarris Associates' David Herro joins 'Squawk on the Street' to discuss why the strength of the dollar is hurting the return of foreign investment, how growing regulatory initiatives are leading to restrictions in the supply curve, and the state of undervalued European financials.
Persons: David Herro Harris, David Herro Organizations: David Herro Harris Associates
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI don't believe the banking system itself is in crisis, says Harris Associates' David HerroDavid Herro, Harris's chief investment officer for international equities, joins 'Squawk on the Street' to discuss his thoughts on the banking system and what is ahead for regional banks.
Credit Suisse shares tumbled more than 25% on Wednesday as fears grew of a banking crisis. Here's a closer look at why Credit Suisse is worrying investors. The latest slump in Credit Suisse stock can partly be explained by recent events in the US banking industry. Credit Suisse CEO Ulrich Koerner has also faced questions about his plans to cut costs, staunch losses, and turn around his company. There's no clear reason to believe Credit Suisse is at risk of failure.
At the Fontainebleau hotel, Credit Suisse bankers were puzzled by the announcements, and concerned about their jobs being on the line, said the executive, who declined to be named. In response to questions from Reuters for this article, a spokesperson for Credit Suisse in London said: "We never comment on rumours or speculation." 'A ROCK AND A HARD PLACE'Even after Credit Suisse stopped financing hedge funds following the Archegos implosion in March 2021, the equities business remained a key part of its investment bank revenue. One option Credit Suisse is considering is to move its equities research to CSFB, Reuters reported. Slimming down the equities business would draw a further line under Credit Suisse's investment bank ambitions.
Apple — Shares advanced more than 3% after Goldman Sachs initiated coverage of the big technology stock as a buy. Credit Suisse — Shares were down about 1% after former top shareholder Harris Associates sold its entire stake in Credit Suisse, according to a Financial Times report. The Wall Street firm said the luxury housing market is struggling to stabilize, which will impact RH's business. The Wall Street firm said the derating of Emerson Electric is overdone. Domino's Pizza — Domino's Pizza shares advanced more than 4%.
Harris started to cut its exposure in October after Credit Suisse raised 4 billion Swiss francs ($4.27 billion) from investors, and when Saudi National Bank supplanted it as the top investor, David Herro, deputy chairman of Harris Associates, told the Financial Times. Credit Suisse reported a sharp acceleration in withdrawals in the fourth quarter, with outflows of more than 110 billion Swiss francs ($120 billion). In an emailed statement to Reuters on Sunday, Credit Suisse said, "we are ahead of our plan and have clear strategic objectives." "We are laser focused on successfully executing our plan and on progressing toward our targets to ensure new Credit Suisse delivers sustainable value for all our stakeholders," the statement added. Credit Suisse last month reported its biggest annual loss since the 2008 global financial crisis after rattled clients pulled billions from the bank, and it warned of a further "substantial" loss this year.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHunt for value begins in Europe, says Harris Associates' David HerroDavid Herro, Harris Associates, joins 'Squawk on the Street' to discuss international markets and why the 'hunt for value' starts in the European markets.
There's a "value gap" in European markets, and that's creating a unique opportunity for investors to buy up top-notch financial and industrial names at a bargain, according to David Herro, chief investment officer of international equities at Harris Associates. European markets dropped sharply last year as war concerns mounted in Ukraine, energy prices surged, and the Chinese economy struggled. But even as share prices dropped, earnings continued improving, opening up what Herro calls a value gap. When it comes to international markets, Herro's got the credentials to support this type of declaration. "Just about every one of the major European financials is over capitalized, and distributing that money back to shareholders positions," Herro told CNBC.
The campaign increases the pressure on non-executive Chairman Norbert Winkeljohann, who has faced calls from large shareholders for the swift replacement of Chief Executive Werner Baumann, who engineered Bayer's troubled Monsanto takeover. The approaches come after Ubben's activist investment fund Inclusive Capital Partners said last month it had bought a 0.83% stake in Bayer. David Herro, deputy chairman of Harris Associates, told Reuters in brief emailed comments that Ubben had contacted him to discuss Bayer. A spokesperson said Bayer was always open to a constructive dialogue with shareholders and declined to comment further. Investors who have publicly called for a swift CEO change hold at least a combined 6.7% in Bayer, according to Refinitiv data.
Harris Associates backs Credit Suisse handling of governance
  + stars: | 2022-11-11 | by ( ) www.reuters.com   time to read: 1 min
ZURICH, Nov 11 (Reuters) - Credit Suisse (CSGN.S) shareholder Harris Associates backed the Swiss bank's handling of any potential conflicts of interest for Michael Klein, then board member, and director Blythe Masters when it implemented a sweeping overhaul last month. "We believe they have properly dealt with situations where there have been conflicts," Deputy Chairman David Herro said in an emailed comment. Reuters earlier reported the bank's recent decision to exit certain investment banking activities is drawing scrutiny from at least two investors and a proxy adviser worried about how Credit Suisse managed potential conflicts of interest. Reporting by Oliver Hirt, writing by Michael Shields, Editing by Elisa MartinuzziOur Standards: The Thomson Reuters Trust Principles.
Watch CNBC's full interview with Harris Associates' David Herro
  + stars: | 2022-09-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Harris Associates' David HerroDavid Herro, Harris Associates partner, joins 'Squawk on the Street' to discuss rising inflation, the global economy, and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInternational equities have almost never been this attractive, says Harris Associates' David HerroDavid Herro, Harris Associates partner, joins 'Squawk on the Street' to discuss rising inflation, the global economy, and more.
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