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Below are the latest news stories about Loews Corp that investors may wish to consider to help them evaluate L as an investment opportunity.
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.
Loews Corporation has agreed to sell a 47 percent stake in Altium Packaging to 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.
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.
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.
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…
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.
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.
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.
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.