News: Loews Corp (L.N)
Mon, Oct 28 2013
- Loews Corp , controlled by the billionaire Tisch family, reported lower adjusted net income for the third quarter as profit nearly halved at the conglomerate's Diamond Offshore Drilling Inc unit and overall investment income fell.
Oct 28 - Loews Corp posted a 59 percent jump in third-quarter profit as the hotel, energy and financial services conglomerate took a smaller impairment charge in its HighMount Exploration & Production unit.
* Company says a successor expected to be found by March 31
- Hotel, energy and financial services conglomerate Loews Corp reported a jump in quarterly profit due to a strong performance at its biggest business, insurer CNA Financial Corp .
- Rig maintenance and the delayed arrival of two new rigs for Diamond Offshore Drilling Inc overshadowed higher-than-expected second-quarter profits, and the stock fell 3.5 percent.
* One ultra-deepwater unit in shipyard 10 months (Rewrites with rig delays, share price move)
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- Loews Corporation (L) Management Discusses Q2 2013 Results (Webcast)
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- Diamond Offshore Announces Closing of Senior Notes Offering
- Diamond Offshore Announces Pricing of Senior Notes
- Loews Corporation Reports Net Income Of $282 Million For The Third Quarter Of 2013