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Wednesday, April 7, 2010 as of 11:14 AM ET

Loews

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Loews 1Q Profit Beats as CNA Catastrophe Losses Fall

Loews (NYSE:L) revealed a weaker first-quarter profit that topped expectations on Monday, as smaller catastrophe losses and higher investment income at CNA Financial (NYSE:CNA) only partially offset weaknesses in the oil and gas division.

The New York-based conglomerate, which offers property and casualty insurance and operates hotels and offshore oil rigs, reported net income of $367 million, or 92 cents a share, compared with a year-earlier $379 million, or 92 cents.The decline reflects weaker earnings at Diamond Offshore Drilling, as fewer earning days lowered revenue and contract drilling expenses increased, and HighMount Exploration & Production, on a non-cash impairment charge.Net investment gains climbed tripled at CNA Financial, the company's largest holding, to $24 million from $8 million a year ago. The division's after-tax catastrophe losses halved to $18 million during the quarter from $36 million a year ago.The same period last year was hurt by a series of deathly disasters...

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  1. Diamond Offshore 4Q Net Down 22% On Softer Revenue, Utilization Rates

    DOW JONES NEWSWIRESDiamond Offshore Drilling Inc.'s (DO) fourth-quarter earnings fell 22% as the oil driller reported weaker revenue and lower utilization rates for ...

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  3. Loews 3Q Disappoints on Irene Destruction

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  4. Catastrophe losses weigh on Loews

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  6. Loews 2Q Profit Slammed by Disasters

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  7. Loews 2Q Net Falls 31%; CNA Financial 2Q Net Drops 55% On Catastrophes

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  8. Lowes 2Q Net Falls 31%; CNA Financial 2Q Net Drops 55% On Catastrophes

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  1. Loews 1Q Net Down 3.2%; CNA Financial Profit Jumps 14%

    DOW JONES NEWSWIRESLoews Corp.'s (L) first-quarter earnings edged down 3.2% as profit gains in its CNA Financial Corp. (CNA) insurance unit failed to fully offset we...

  2. Diamond Offshore 1Q Profit Falls 26% On Lower Revenue, Higher Costs

    DOW JONES NEWSWIRESDiamond Offshore Drilling Inc.'s (DO) first-quarter earnings slid 26% as the contract driller was hit with higher costs.The company declared a spe...

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    Point View Wealth Management president David Dietze breaks down where to invest in today's market.

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  5. Loews 4Q Profit Falls 42%

    Loews (NYSE:L) nearly halved its fourth-quarter profit on lower investment income and higher expenses, pushing its shares lower in morning trade.  The New York-based...

  6. Loews Profit Hit By Lower Investment Gains

    Loews Corp. on Monday reported a fourth-quarter profit of $268 million, or 67 cents a share, down from $466 million, or $1.12 a share, a year ago. Revenue slipped to...

  7. Boardwalk Pipeline 4Q Net Falls 16% On Lower-Than-Expected Revenue

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