AllianceBernstein's Tierney Favors Financials, Tech, Health Careby
AllianceBernstein LP fund manager James Tierney said he favors financial, technology and health-care companies that can increase earnings without cutting costs or doing mergers.
In financials, Charles Schwab Corp. may be able to double its earnings power if interest rates rise, Tierney said in an interview Monday on Bloomberg Television.
Investors need to find companies with solid organic growth prospects, he said. Oil is unlikely to return to the $20 a barrel level, he said.
Tierney manages the AB Concentrated Growth Portfolio.