Loews — Trading Ideas on TradingView

Lowe's Beats on Earnings and Revenue Lowe's shares ( NYSE:LOW ) rose in pre-market trading after the retailer reported first-quarter earnings that beat analysts' estimates, despite declining from the year-ago period amid a pullback in home-improvement spending. The company said growth in digital sales and market share among professional contractors helped partially offset a continued slowdown in sales of big-ticket items. Lowe's ( NYSE:LOW ) affirmed its full-year guidance, projecting revenue and diluted earnings per share (EPS) roughly in line with analyst estimates. Sales have fallen in recent quarters for Lowe's and rival Home Depot ( NYSE:HD ) amid a slowdown in spending on do-it-yourself (DIY) projects and big-ticket items as inflation weighs on many consumers. The company said growth in its digital sales and market share among professional contractors, an area in which Home Depot is also looking to expand, helped partially offset the continued decline in DIY big-ticket spending. In Tuesday's earnings report, Lowe's affirmed its outlook for the full fiscal year, projecting comparable store sales to decline by 2% to 3% for the year. The company said it anticipates revenue to come in from $84 billion to $85 billion, in line with the $84.25 billion analysts projected, and a decrease from the $86.38 billion in revenue that Lowe's generated in fiscal 2032. Lowe's said it expects diluted earnings per share (EPS) within a range of $12 to $12.30, with analysts expecting around $12.18, down from last year's $13.20. Shares were up 3% at $236 as of 8:20 a.m. ET Tuesday following the release. In the three-month period that ended May 3, Lowe's net income fell to $1.76 billion, or $3.06 per share, compared with $2.26 billion, or $3.77 per share, a year earlier. Sales dropped from $22.35 billion in the year-ago period, marking the fifth quarter in a row that Lowe's posted a year-over-year sales decline. Compared with Home Depot, Lowe's draws less of its business from painters, contractors, and other home professionals who tend to provide steadier business even when do-it-yourself customers pull back. Lowe's is lapping a year-ago quarter when the company slashed its full-year outlook and posted a year-over-year sales decline. As of Monday's close, the company's stock is up nearly 3% this year, trailing the 11% gains of the S&P 500.

Loews Corporation Reports Net Income Of $457 Mln For Q1 2024 Loews Corporation (NYSE: NYSE:L ) reported a net income of $457 million in Q1 2024, a 22% increase from Q1 2023. The company's net income attributable to CNA Financial Corporation improved year-over-year due to higher net investment income and favorable net prior-year loss reserve development. Boardwalk Pipelines' results also improved due to higher revenues from re-contracting at higher rates and recently completed growth projects. Parent company investment returns improved year-over-year due to higher returns on equity securities. Book value per share increased to $83.68 as of March 31, 2024, from $81.92 as of December 31, 2023. As of March 31, 2024, the parent company had $3.2 billion of cash and investments and $1.8 billion of debt. Loews Corporation (NYSE: NYSE:L ) repurchased 0.9 million shares of its common stock for $67 million since December 31, 2023. The CEO commented on the exceptional Q1 performance, stating that CNA continues to experience strong profitable growth and reported its highest-ever first-quarter core income.

Loews Corp's Strong Q4 Performance Signals Resilience Loews Corp (NYSE: NYSE:L ), a diversified financial conglomerate, has reported an impressive nearly 26% surge in fourth-quarter profit, showcasing its resilience in the face of economic uncertainties. The company's robust performance was primarily attributed to higher premiums and favorable market conditions, particularly a rally in U.S. government bonds at the close of 2023. This positive outcome stems from strategic investments and sound financial management, further solidifying Loews' position in the market. Investment Income Boosts Profits: One of the key drivers behind Loews' (NYSE: NYSE:L ) stellar Q4 performance was a notable increase in investment income, which rose to $643 million from $600 million year-over-year. The surge was propelled by a market rally and increased premiums, reflecting the company's adept management of its investment portfolio. As U.S. government bonds rallied towards the end of 2023, Loews (NYSE: NYSE:L ) capitalized on the favorable conditions, positioning itself for financial success. CNA's Contribution: Loews Corp's (NYSE: NYSE:L ) subsidiary, CNA, plays a pivotal role in the company's revenue stream, contributing significantly to its overall performance. CNA, in which Loews (NYSE: NYSE:L ) holds approximately 90% stake, reported an underlying combined ratio of 91.4% in its property and casualty business. Despite a marginal increase from the previous year's ratio of 91.2%, the figure remains below 100%, indicating that CNA earned more in premiums than it paid out in claims. This solid performance underscores the effectiveness of CNA's risk management strategies. Earnings Per Share Soar: Loews (NYSE: NYSE:L ) reported an income attributable to the corporation of $446 million, or $1.99 per share, for the fourth quarter. This marks a substantial improvement from the previous year's figures of $355 million, or $1.49 per share. The notable increase in earnings per share reflects Loews' ability to generate value for its shareholders, positioning the company as an attractive investment option in the financial market. Outlook Amid Economic Trends: The strong Q4 performance of Loews Corp (NYSE: NYSE:L ) is especially noteworthy considering the prevailing economic trends, including expectations of the Federal Reserve cutting interest rates in 2024. Loews' ability to navigate and capitalize on such market conditions reflects the company's strategic foresight and adaptability. Investors may find reassurance in Loews' resilient financial performance, making it a compelling choice in a potentially challenging economic landscape. Conclusion: Loews Corp's (NYSE: NYSE:L ) impressive fourth-quarter results underscore its resilience and strategic prowess in navigating complex economic scenarios. The surge in investment income, solid performance of its subsidiary CNA, and the significant increase in earnings per share position Loews (NYSE: NYSE:L ) as a strong contender in the financial sector. As economic uncertainties persist, Loews Corp's (NYSE: NYSE:L ) ability to adapt and thrive reinforces its standing as a compelling investment option for shareholders seeking stability and growth in their portfolios.

Short on L L is currently in an ascending channel with bearish RSI divergence. Has broken trendline on smaller timeframe, stoploss at last swing high with target at bottom of channel also could be a bigger move if breaks down out of channel so will be using a trailing SL if it gets there, moving SL to BE when safe to do so.

L - Interesting Symmetry Two wedges , facing away from each other, showing symmetry with each other all of this is along a larger trend line in white that is in solid white More of an observational post

$L Loews with nice VCP breakout Loews weekly chart appears to be breaking out of a volatility contraction pattern , with price coming out of a nice rounded base and aiming for next leg up. I am long shares at $63 and will add as this grinds higher, trade invalidated and stop loss at -8% or $58.05 First price target $66