Loews Corporation (L) News

Loews Corporation (L): $54.03

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Latest L News From Around the Web

Below are the latest news stories about Loews Corp that investors may wish to consider to help them evaluate L as an investment opportunity.

L Brands Pops 9% On Higher 1Q Profit Outlook, $500M Share Buyback

Shares of L Brands closed 8.9% higher on Friday after the apparel retailer raised its first-quarter EPS guidance and approved a share buyback plan of $500 million. The parent company of Victoria's Secret also reinstated annual dividend payments and repaid $1.04 billion in debt. L Brands (LB) now expects 1Q adjusted earnings to be in the range of $0.55-$0.65 per share, up from the earlier guidance of $0.35-$0.45 per share. Analysts were anticipating EPS of $0.55 per share in 1Q. The company’s CEO Andrew Meslow said that the increased 1Q profit outlook reflects strong quarter-to-date performance, which boosted the overall quarterly outlook.

Amit Singh on TipRanks | March 14, 2021

Loews to sell stake in Altium Packaging to GIC | PE Hub

Loews Corporation has agreed to sell a 47 percent stake in Altium Packaging to GIC.

PE_Hub | March 12, 2021

Loews Corp to sell 47% stake in packaging subsidiary to Singapore's GIC

Loews Corp said on Friday it would sell 47% stake in subsidiary Altium Packaging to Singapore's sovereign wealth fund GIC in a deal valuing the packaging solutions provider at $2 billion.

Reuters | March 12, 2021

Loews Corporation -- Moody's affirms Loews Corporation's A3 senior unsecured rating

Rating Action: Moody's affirms Loews Corporation's A3 senior unsecured ratingGlobal Credit Research - 12 Mar 2021New York, March 12, 2021 -- Moody's Investors Service, ("Moody's") affirmed Loews Corporation's (Loews) senior unsecured rating at A3. This rating action follows the recent affirmation of CNA Financial Corporation's (CNA) senior unsecured rating of Baa2 and stable outlook. Loews owns approximately 90% of CNA's common stock outstanding and CNA is Loews' largest operating subsidiary.

Yahoo | March 12, 2021

Loews Corporation Adds GIC as Partner in its Packaging Subsidiary

Loews Corporation (NYSE: L) announced today that it has entered into a definitive agreement to sell 47% of Altium Packaging, a leading rigid plastic packaging and recycled resin company, to GIC, Singapore's sovereign wealth fund. The transaction is expected to close in the next 30 days.

Yahoo | March 12, 2021

Loews Corp. stock underperforms Friday when compared to competitors

Shares of Loews Corp. slipped 1.89% to $47.81 Friday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index…

MarketWatch | February 26, 2021

L Brands Delivers 4Q Earnings Beat; Shares Gain

Shares of L Brands rose 2.7% after the bell on Feb. 24 as the company reported better-than-expected fourth quarter earnings. The owner of brands like Victoria’s Secret and Bath & Body Works posted 4Q adjusted earnings per share (EPS) of $3.03, beating analysts’ estimate of $2.91. Revenue for the quarter came in at $4.82 billion, up 2.4% year-on-year versus the consensus estimate of $4.87 billion. L Brands (LB) CEO, Andrew Meslow said, “We experienced consistent strength at Bath & Body Works along with continued significant improvement in performance at Victoria’s Secret.

Shrilekha Pethe on TipRanks | February 25, 2021

Altium Packaging LLC -- Moody's assigns B2 to Altium Packaging's term loan, B2 CFR unchanged; outlook stable

Moody's Investors Service ("Moody's") assigned a B2 rating to Altium Packaging LLC's (Altium) proposed first lien term loan. For ratings issued on a program, series, category/class of debt or security this announcement provides certain regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series, category/class of debt, security or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody's rating practices.

Yahoo | January 26, 2021

Loews Corporation to Release Fourth Quarter 2020 Results on February 8, 2021

Loews Corporation (NYSE: L) will report fourth quarter 2020 financial results on Monday, February 8, 2021. The conference call for investors will begin at 10:00 a.m. ET and will be hosted by the Company's chief executive officer, James S. Tisch, and chief financial officer, David B. Edelson.

Yahoo | January 26, 2021

L Brands Soars 6% Driven By Bath & Body Sales, 4Q Outlook; Guggenheim Says Hold

L Brands shares surged 6% on Thursday as the company reported robust holiday comparable sales amid a challenging retail environment and provided a better-than-expected profit outlook for the fourth quarter. Comparable sales in the holiday period (nine weeks ended Jan. 2, 2021) rose 5% year-over-year driven by the strength in L Brands’ (LB) Bath & Body Works business even as weakness in Victoria’s Secret banner continued to persist. Overall, net sales in the holiday period declined 1.8% to $3.84 billion year-on-year.

Sirisha Bhogaraju on TipRanks | January 8, 2021

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