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Adobe shares rose 5% in extended trading on Wednesday after software maker announced fiscal first-quarter results that topped Wall Street estimates and lifted its full-year foercast. Here's how the company did:Earnings: $3.80 per share, adjusted, vs. $3.68 per share as expected by analysts, according to Refinitiv. $3.80 per share, adjusted, vs. $3.68 per share as expected by analysts, according to Refinitiv. For the second quarter, Adobe expects earnings per share of $3.75 to $3.80 on an adjusted basis and $4.75 billion to $4.78 billion in revenue. Analysts surveyed by Refinitiv had been expecting $3.76 per share in adjusted earnings and $4.76 billion in revenue.
Oakmark Select Fund's Bill Nygren said it is a good time to buy bank stocks, as attention shifts away from the failure of Silicon Valley Bank and toward financial names he believes are strong investments. "I think it's important for people to understand just how different SVB is or was compared to other bank stocks," Nygren said on CNBC's "Closing Bell." The fund manager said the tech-focused Silicon Valley Bank lacked a diversified source of depositors, almost all of them being uninsured, and also had a substantial investment in long-duration assets. The portfolio manager said that the bank stocks Oakmark owns trade at a multiple that is about six to eight times their earnings. It dropped by more than 12% on Monday after banking regulators seized Silicon Valley Bank and Signature Bank, the second- and third-largest bank failures , respectively, in U.S. history.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe try to find things priced much more attractively than the market, says Oakmark's Bill NygrenOakmark Funds' Bill Nygren joins 'Squawk on the Street' to discuss where he's looking for value in the markets right now.
Watch CNBC's full interview with Oakmark's Mike Nicolas
  + stars: | 2023-02-15 | 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 Oakmark's Mike NicolasMike Nicolas, Oakmark Portfolio Manager joins 'Squawk on the Street' to break own why KKR & Co. is a big part of his portfolio and stocks in the tech space he is interested in.
KKR & Co. is extremely well managed, says Oakmark's Mike Nicolas
  + stars: | 2023-02-15 | 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 EmailKKR & Co. is extremely well managed, says Oakmark's Mike NicolasMike Nicolas, Oakmark Portfolio Manager joins 'Squawk on the Street' to break own why KKR & Co. is a big part of his portfolio and stocks in the tech space he is interested in.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAdobe is a company we have admired for a really long time, says Oakmark's Bill NygrenBill Nygren, Oakmark Portfolio Manager, joins 'Squawk on the Street' to break down what stocks the fund is keeping an eye on now.
Tips for locating value with Oakmark's Tony Coniaris
  + stars: | 2022-12-12 | 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 EmailTips for locating value with Oakmark's Tony ConiarisTony Coniaris, Oakmark Select Fund portfolio manager, joins 'Squawk on the Street' to discuss finding value in the software sector, growth value in Amazon and Google, and pricing in recession concerns.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe spread of P/E multiples is 40% wider than normal, says Oakmark's NygrenBill Nygren, Oakmark Funds, joins 'Closing Bell' to discuss if he believes the overall equity markets are cheap, if the risk of recession is reflected in the stocks he favors and his thoughts on Charter Communications.
Watch CNBC's full interview with Oakmark's Bill Nygren
  + stars: | 2022-10-12 | 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 Oakmark's Bill NygrenBill Nygren, Oakmark Funds portfolio manager, joins 'Squawk on the Street' to discuss widening PE ratios leading to new investment opportunities, thinning names that have gone to premiums like consumer nondurables, and buying more cyclical names.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWidening P/E ratios present new opportunities for investors, says Oakmark's Bill NygrenBill Nygren, Oakmark Funds portfolio manager, joins 'Squawk on the Street' to discuss widening PE ratios leading to new investment opportunities, thinning names that have gone to premiums like consumer nondurables, and buying more cyclical names.
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