最新ニュース Loews (NYSE:L) 株価情報

Loews

Loews Corp is a holding company that is supported by a variety of businesses. Its majority revenue generating subsidiary is CNA Financial Corporation, a property and casualty insurance company. CNA's services include risk management, information services, and warranty and claims administration. Loews also maintains an operation of offshore oil and gas drilling rigs through Diamond Offshore Drilling, Inc. The company engages in the transportation and storage of natural gas and natural gas liquids and gathering and processing of natural gas through Boardwalk Pipeline Partners, LP. Loews also operates a chain of hotels.

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The U.S. stock market struggled to gain momentum on Monday as investors remained cautious ahead of <a href="https://www.benzinga.com/topic/election-day">Election Day on Tuesday</a>. 
Vice President Kamala Harris holds a 1-point lead over ex-President Donald Trump, according to the New York Times national polling average; she has a 4-point lead among likely voters nationally, <a href="https://maristpoll.marist.edu/polls/u-s-presidential-contest-november-2024/">according to the latest PBS News/NPR/Marist poll</a>.
Betting markets, as tracked by the CFTC-regulated Kalshi, favor a Trump win at a 53% chance, <a href="https://www.benzinga.com/general/politics/24/11/41702729/harris-surges-in-prediction-markets-nabs-kalshi-lead-with-just-three-days-to-go">but with diminishing odds</a> compared to previous weeks. Also, the betting odds are susceptible to wild swings from so-called "whale" bettors, including one individual on Polymarket <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41463756/polymarket-to-review-user-base-in-light-of-whales-betting-millions-on-trump-election-win" target="_blank" rel="noreferrer noopener">who spent as much as</a> $43 million on a Trump victory.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41717129/polymarkets-all-time-leading-trader-bets-over-500-000-on-kamala-harris-slams-nate-silver-f">Polymarket&#8217;s All-Time Leading Trader Bets Over $500,000 On Kamala Harris, Slams Nate Silver For Including &#8216;Fake Poll&#8217; Data In Model</a>
&#8220;Neither candidate holds a meaningful edge in enough states to win 270 electoral votes. In the history of modern polling, there's never been a race where the final polls showed such a close contest,&#8221; said Nate Cohn, chief political analyst for the New York Times. 
The S&amp;P 500 slipped 0.2%, while the Dow dropped 0.6%, hitting its lowest intraday level since mid-September. In contrast, small-cap stocks in the Russell 2000 outperformed, rising 1%. The Nasdaq 100 also retreated, dipping below the 20,000 mark.
Treasury yields fell by nearly 10 basis points as investors scaled back positions linked to Trump&#8217;s inflationary policies, such as high tariffs and more expansionary fiscal measures. The dollar also weakened, down 0.5%.
The increasing likelihood of a Harris victory gave a boost to solar and renewable energy stocks, with the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) climbing 3.6%. 
Oil and gas stocks also gained, as crude prices surged 3% after OPEC+ postponed an anticipated production hike. Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) jumped 3%, marking its largest single-day gain since late June.
Gold held steady at $2,740, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell over 1%, dropping below $68,000.
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,230.95</td>
<td>1.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,715.31</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,978.22</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,807.92</td>
<td>-0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:45 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.1% to $570.22.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.5% to $418.44.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.2% to $486.77.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.1% to $221.27.</li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, rising 1.7%. The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 1.5%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports included: 
<ul>
<li>Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>), down 3.9%, </li>
<li>Constellation Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NYSE">CEG</a>), down 10.5%, </li>
<li>Marriott International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>), down 1.8%, </li>
<li>Fidelity National Information Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>), down 0.4%, </li>
<li>Public Service Enterprise Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEG#NYSE">PEG</a>), down 5.9%, </li>
<li>TPG Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>), down 5.5%. </li>
<li>Fox Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>), up 3.7%, </li>
<li>YUM China Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>), up 7.9%, </li>
<li>Loews Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>), down 4.8%, </li>
</ul>
Stocks slated to report earnings after the close are Vertex Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>), Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), NXP Semiconductors NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Diamondback Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), American International Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), Illumina Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Hologic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>) and Astera Labs Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>).
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Wall Street Struggles Ahead Of Election Day, Energy Sector Outperforms, Solar Stocks Rise: What's Driving Markets Monday?

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Loews shares are trading lower. The company reported Q3 financial results.

Loews Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>) reported&nbsp;a third-quarter&nbsp;net income of&nbsp;$401&nbsp;million compared to $253 million a year ago. EPS was&nbsp;$1.82, up from&nbsp;$1.12 year-ago. Revenues grew to&nbsp;$4.47 billion&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n41708116/loews-corporation-reports-net-income-of-401-million-for-the-third-quarter-of-2024" rel="noreferrer noopener">from&nbsp;$3.93 billion&nbsp;a year ago.</a>
CNA Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAN#NYSE">CAN</a>) revenue contribution increased to&nbsp;$3.62 billion&nbsp;from&nbsp;$3.34 billion&nbsp;a year ago, and net income rose to&nbsp;$259 million&nbsp;from&nbsp;$235 million&nbsp;a year ago.
CNA&#8217;s net income attributable to Loews improved year-over-year due to higher net investment income partially offset by higher catastrophe losses.
Boardwalk Pipelines segment's revenues rose to&nbsp;$483 million&nbsp;from&nbsp;$363 million&nbsp;in the year-ago quarter, and net income rose to&nbsp;$77 million&nbsp;from&nbsp;$49 million&nbsp;the prior year.
Boardwalk Pipelines' results improved year-over-year due to higher re-contracting rates and newly completed growth projects.
Loews Hotels&#8217; revenues increased to&nbsp;$226 million&nbsp;from&nbsp;$196 million&nbsp;a year ago, and net income stood at&nbsp;$(8) million&nbsp;vs. $17 million&nbsp;a year ago. The result reflects an impairment charge recorded by a joint venture property.
As of September 30, 2024, the company had&nbsp;$3.3&nbsp;billion&nbsp;in cash and investments and&nbsp;$1.8&nbsp;billion&nbsp;in debt.
Loews repurchased 0.8&nbsp;million shares for&nbsp;$64&nbsp;million&nbsp;in&nbsp;the quarter and an additional 1.2&nbsp;million shares for&nbsp;$92&nbsp;million&nbsp;so far in the&nbsp;fourth quarter.
&#8220;Loews had another good quarter. Boardwalk continues to benefit from favorable industry tailwinds that have led to higher re-contracting rates and robust pipeline flows. CNA performed well despite elevated industry catastrophe losses,&#8221; said James S. Tisch, President and CEO, Loews Corporation.
Investors can gain exposure to the stock via&nbsp;Absolute Select Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABEQ#NYSE">ABEQ</a>) and Democratic Large Cap Core ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DEMZ#NASDAQ">DEMZ</a>).
Price Action: L shares closed higher by 0.39% at $79.27 on Friday.
Image via Shutterstock
Read Next:
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</ul>

Earnings

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Loews Reports Strong Q3 With 58% Net Income Surge, Backed by CNA Financial And Boardwalk Pipelines

Loews (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>) reported quarterly earnings of $1.82 per share. This is a 62.5 percent increase over earnings of $1.12 per share from the same period last year. The company reported $4.47 billion in sales this quarter. This is a 13.86 percent increase over sales of $3.93 billion the same period last year.

Loews Q3 EPS $1.82 Up From $1.12 YoY, Sales $4.47B Up From $3.93B YoY

The second Category 5 storm of the 2024 <a href="https://www.benzinga.com/markets/24/10/41215820/hurricane-milton-is-floridas-second-storm-in-two-weeks-how-disney-theme-parks-insurance-companies-co">hurricane season named Hurricane Milton </a>is threatening large-scale destruction, as it quickly graduated from Category 1 status and is approaching the state of Florida. The storm is expected to lash over the Tampa Bay on Wednesday.
Milton Vs. Previous Hurricanes: Hurricane Milton gathered maximum sustained wind speeds of 180 miles per hour by Monday night, and in terms of wind speed it only trails a 1980 hurricane, which went by the name Allen and boasted a top wind speed of 190 mph before it made landfall in the U.S.-Mexican border,<a href="https://www.nytimes.com/2024/10/07/weather/hurricane-milton-forecast-path.html"> said</a> New York Times.
Going by pressure &#8211; which is another measure of a storm&#8217;s intensity, Milton is similar to Hurricane Wilma from the 2005 hurricane season that holds the record for the lowest pressure, the Times said.
The latest<a href="https://www.nhc.noaa.gov/text/refresh/MIATCPAT4+shtml/080541.shtml"> update</a> issued by the National Hurricane Center early Tuesday showed Milton weakening to a Category 4 storm with wind speed slowing to 155 mph. The hurricane was moving east at 9 mph and was located 585 miles southwest of Tampa.
Milton is expected to regain Category 5 strength Tuesday morning and maintain this strength through the day, CNN&#8217;s <a href="https://edition.cnn.com/weather/live-news/hurricane-milton-florida-10-08-24/index.html">update </a>showed. It would then fluctuate in intensity before making landfall on Wednesday as a Category 3 storm.
Certified Consulting Meteorologist and NBC 6 South Florida John Morales, while on air, was overwhelmed with emotion as he described the hurricane. &#8220;It&#8217;s just an incredible, incredible, incredible hurricane. It has dropped 50 millibars in 10 hours,&#8221; he said before pausing to suppress his emotion. &#8220;I apologize. This is just horrific,&#8221; he said. Sharing a video clip of this, CNN media analyst Brian Stelter said, &#8220;NBC6&#8217;s @JohnMoralesTV is the longest-tenured TV meteorologist in South Florida. When he gets this serious, this emotional, on the air, viewers pay attention.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">NBC6&#39;s <a href="https://twitter.com/JohnMoralesTV?ref_src=twsrc%5Etfw">@JohnMoralesTV</a> is the longest tenured TV meteorologist in south Florida. When he gets this serious, this emotional, on the air, viewers pay attention: <a href="https://t.co/iiECZ8KaHx">pic.twitter.com/iiECZ8KaHx</a>
&mdash; Brian Stelter (@brianstelter) <a href="https://twitter.com/brianstelter/status/1843362454321115138?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">See Also: <a href="https://www.benzinga.com/money/best-insurance-stocks">Best Insurance Stocks</a></figcaption></figure>
Florida&#8217;s Preparedness: The Sunshine State is on full alert with multiple teams coordinating to prepare ahead of Milton&#8217;s landfall. At a Monday briefing, Florida&#8217;s emergency management director, Kevin Guthrie called out to people to be prepared, ABC News <a href="https://abcnews.go.com/US/wireStory/ahead-hurricane-strike-floridians-plan-supply-kit-heed-114571554">said.</a> &#8220;If they have called an evacuation order, I beg you, I implore you to evacuate,&#8221; he reportedly said.
Jaime Hernandez, the emergency management director in Hollywood, Florida, reportedly asked people to be ready with a plan taking into account the changing forecasts, have an emergency kit and stay informed,
Writing on X, formerly Twitter, Florida Governor Ron DeSantis said, &#8220;Evacuations are underway, and we have suspended tolls and opened roadway shoulders to make it easier for Floridians to get to safety.&#8221; He directed people to take evacuate to pet-friendly shelters, special needs shelters, and other options that are safe from storm surges in their own counties.
Stocks To Keep Eye On: 
Insurers: Property and casualty insurance stocks have been under pressure since <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41145534/hurricane-helene-adds-to-most-active-quarter-for-power-outages-driving-back-up-gene">Hurricane Helene </a>that impacted Southeastern U.S. and they fell on Monday amid news concerning Milton. These stocks could be once again on the radar in Tuesday&#8217;s session. These include:
<ul>
<li>Progressive Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>)</li>
<li>Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>)</li>
<li>Travelers Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>)</li>
<li>Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>)</li>
<li>Hartford Financial Services Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIG#NYSE">HIG</a>)</li>
<li>Markel Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKL#NYSE">MKL</a>)</li>
<li>Loews Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>)</li>
</ul>
The steepest losses were recorded by Florida-based insurers such as Heritage Insurance Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRTG#NYSE">HRTG</a>) (down over 23%, American Coastal Insurance Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acic#NASDAQ">ACIC</a>) (down over 15%), and HCI Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCI#NYSE">HCI</a>) (down over 17%).
Given the 2024 hurricane season has been very active, insurers would be left saddled with catastrophe-related claims, which will weigh down on their margins and bottom line.
Phosphate Miners: Phosphate mining stocks such as Mosaic Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOS#NYSE">MOS</a>) could be on the radar during a natural disaster. Florida&#8217;s phosphate industry is one of the major suppliers of the mineral internationally, and the U.S. ranks third in terms of phosphate production, after China and Morocco. In the U.S., phosphate mining takes place in Florida, North Carolina, Idaho and Utah, <a href="https://fipr.floridapoly.edu/about-us/phosphate-primer/other-phosphate-deposits.php#:~:text=Currently%20U.S.%20phosphate%20mining%20takes,it%20was%20not%20economically%20practical.">according</a> to the Florida Industrial and Phosphate Research Institute, FIPRI.
The phosphate mineral is a source of phosphorous, a key nutrient for plant growth.
Florida's phosphate is part of a deposit that stretches across the state and up the coast to the Chesapeake Bay.&nbsp;
Florida Phosphate Council <a href="https://floridaphosphate.com/our-industry/">states</a> that the phosphate industry in the state is a major economic driver and supports nearly 8,400 direct jobs. The industry accounts for an estimated $5.03 billion in annual economic output.
Josh Linville, Director of Fertilizer at integrated trading platform StoneX, said the phosphate market could be hurt. In an X post, he said, &#8220;FL is built to withstand hurricanes&#8230;to an extent. This looks bad. This looks really bad,&#8221; he said.
Even if production facilities withstand major damage, they need workers to run the plants, he added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/phosphate?src=hash&amp;ref_src=twsrc%5Etfw">#phosphate</a> market, this could hurt. FL is built to withstand hurricanes&#8230;to an extent. This looks bad. This looks really bad. Even if production facilities do not withstand major damage, they need workers to run the plants&#8230;and homesteads may not fare as well. <a href="https://t.co/Qyutb60L95">pic.twitter.com/Qyutb60L95</a>
&mdash; Josh Linville (@JLinvilleFert) <a href="https://twitter.com/JLinvilleFert/status/1843302894009036810?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
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Alico, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALCO#NASDAQ">ALCO</a>), which is a Florida-based agribusiness and land management company, also saw its shares sink over 8% on Monday. This stock was <a href="https://cupofcoffeecapital.substack.com/p/trade-idea-alert">flagged </a>by a substack writer who issues trading alerts. 
Potential Beneficiaries: Shares of Generac Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>), a manufacturer of generators, soared on Monday, potentially due to surging demand for its products in the aftermath of the hurricane.
Batteries are also in great demand during hurricanes, with household battery manufacturers such as Energizer Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENR#NYSE">ENR</a>) reaping windfall.
Once the hurricane subsides and life returns to normalcy, the havoc caused by it can stimulate reconstruction demand, with home-improvement retailers Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) and Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) among the potential beneficiaries.
Building products and equipment companies such as Masco Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAS#NYSE">MAS</a>) and used-car retailers such as Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) and Carmax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) also stand to gain.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/10/41216625/generac-stock-powers-up-ahead-of-hurricane-milton">Generac Stock Powers Up Ahead Of Hurricane Milton</a></li>
</ul>
Photo via Shutterstock

Small Cap

Markets

Media

Trading Ideas

ACIC

ALCO

CVNA

GNRC

HRTG

As Florida Prepares For One Of Deadliest Hurricanes, Here Are Some Potential Stock Winners And Losers From Milton Threat

ACGL

CINF

ERIE

FIHL

KNSL

PLMR

SPNT

Shares of insurance companies are trading lower while Floridians experience evacuation orders as Category 5 Hurricane Milton approaches the state. The region is still recovering from damage due to Hurricane Helene.

The ongoing threat of labor<a href="https://www.benzinga.com/news/24/09/40906726/us-port-strike-in-october-could-lead-to-major-supply-chain-disruptions-says-container-trade-expert"> strikes at U.S. ports</a>, typhoons in China and China&#8217;s upcoming seven-day National Golden Week holiday are set to disrupt the flow of containerized goods from China to the U.S., according to a container trade expert.
&#8220;Our regular surveys indicate that demand for U.S.-bound shipments from China remains strong, especially with Golden Week looming,&#8221; said Christian Roeloffs, CEO of Hamburg-based online container market platform Container xChange.
&#8220;Golden Week, starting Oct. 1, traditionally causes a temporary slowdown in logistics activities across China, with a noticeable dip lasting between seven and 10 days.&#8221;
&#8220;With these events in combination — the U.S. labor strikes, upcoming Golden Week, and port suspensions — the China-to-U.S. shipping route is set to be volatile and uncertain over the next 20 days,&#8221; Roeloffs added.
Chinese factories shut down during National Day Golden Week as its citizens celebrate the founding of the People&#8217;s Republic of China.
He noted that an anticipated strike by the International Longshoremen&#8217;s Association, which represents 85,000 dockworkers at 12 ports along the East and Gulf coasts, is prompting traders to accelerate their order schedules to avoid disruptions before the strike on Oct. 1.
Read Also: <a href="https://www.benzinga.com/government/24/09/40713418/retailers-plea-for-deal-us-ports-union-start-two-day-talk-in-effort-to-prevent-disruptive-strike">Retailers Plea For Deal: US Ports, Union Start Two-Day Talk In Effort To Prevent Disruptive Strike</a>
Last week, China faced its worst typhoon in 75 years, which made landfall on the east coast. According to container liner Hapag-Lloyd, the storm has caused delays of up to 60 hours at ports in Shanghai and up to 48 hours at ports in Ningbo. Another typhoon is also headed toward the region.
&#8220;This bottleneck is expected to worsen as Typhoon Pulasan approaches, potentially exacerbating the already strained situation,&#8221; Roeloffs said. &#8220;Several ports in Ningbo and Shanghai have announced the suspension of container operations.&#8221;
He added that these adverse conditions have not caused port congestion at Chinese ports due to trade volume declining in a tougher economic environment.
&#8220;At present, securing containers is not an issue, though this may change as market conditions evolve,&#8221; he said.
Price Action: A disruption of China&#8217;s exports to the U.S. will impact numerous sectors in the U.S. because they rely heavily on China for the products they need.
Retail, automotive, and semiconductor companies saw gains and losses in Tuesday&#8217;s early-afternoon trading.
Retail
<ul>
<li>Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) rose 0.35% to $80.61.</li>
<li>Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) declined 0.58% to $192.76.</li>
<li>Loews Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>) slipped 0.32% to $78.42.</li>
</ul>
Automotive
<ul>
<li>Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) fell 0.37% to $10.87.</li>
<li>General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) declined 0.42% to $47.84.</li>
<li>Stellantis N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) rose 0.55% to $15.53.</li>
</ul>
Semiconductors
<ul>
<li>Taiwan Semiconductor Manufacturing Co. Ltd. NYSE: TSM)  went up 3.42% to $180.74.</li>
<li>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) rose 0.91% to $174.51.</li>
<li>Qualcomm Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) rose 1.14% to $167.85.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/global/24/08/40497103/strikes-at-us-ports-canadas-railways-may-cause-container-freight-rate-volatility">Strikes At US Ports, Canada&#8217;s Railways May Cause Container Freight Rate Volatility</a></li>
</ul>
Photo: ambient_pix/Shutterstock.com

Asia

Global

AMZN

AVGO

QCOM

STLA

China's Exports At Risk From Anticipated US Port Strikes, Typhoons, Golden Week, Warns Container Trade Expert

Legal

Loews Announces Delaware Court Of Chancery Found No Liability In Connection With Loews's 2018 Acquisition Of The Minority Limited Partner Interests In Its Boardwalk Pipelines Subsidiary

Loews's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>) short percent of float has risen 7.37% since its last report. The company recently reported that it has 1.82 million shares sold short, which is 1.02% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.24 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Loews Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725903911_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Loews has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Loews's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Loews's peer group average for short interest as a percentage of float is 1.98%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(L) - Analyzing Loews's Short Interest

The Nasdaq 100 closed lower by around 1% during Monday's session. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Microsoft</h3>
<ul>
<li>The Trade: Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Satya Nadella <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 14,398 shares</a> at an average price of $417.41. The insider received around $6 million from selling those shares.</li>
<li>What's Happening: Microsoft recently disclosed segment restructuring and revised guidance.</li>
<li>What Microsoft Does: Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and Office productivity suite.</li>
<li>Benzinga Pro's real-time newsfeed alerted to l<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082724&amp;t=be2bearmibe3na1">atest MSFT news.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="863" height="811" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043631/image-257.png" alt="" class="wp-image-515232" style="width:588px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043631/image-257.png 863w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043631/image-257-300x282.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043631/image-257-768x722.png 768w" sizes="(max-width: 863px) 100vw, 863px" /></a></figure>
<h3 class="wp-block-heading">Synaptics</h3>
<ul>
<li>The Trade: Synaptics Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYNA#NASDAQ">SYNA</a>) Vikram Gupta sold a total of 1,870 shares at an average price of $80.00. The insider received around $149,600 from selling those shares.</li>
<li>What's Happening: On Aug. 8, Synaptics posted better-than-expected quarterly earnings.</li>
<li>What Synaptics Does: Synaptics Inc is a producer of semiconductor solutions for the mobile, PC, and Internet of Things markets.</li>
<li>Benzinga Pro&#8217;s earnings calendar was used to track upcoming <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082724&amp;t=be2bearmibe3na1">SYNA&#8217;s earnings reports.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="801" height="806" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043855/image-260.png" alt="" class="wp-image-515240" style="width:614px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043855/image-260.png 801w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043855/image-260-298x300.png 298w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043855/image-260-150x150.png 150w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043855/image-260-768x773.png 768w" sizes="(max-width: 801px) 100vw, 801px" /></a></figure>
<h3 class="wp-block-heading">Loews</h3>
<ul>
<li>The Trade: Loews Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>) Senior Vice President Kenneth I Siegel <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 6,993 shares</a> at an average price of $80.21. The insider received around $560,909 from selling those shares.</li>
<li>What's Happening: On July 29, Loews reported second-quarter 2024 net income of $369 million, up 2.5% year-over-year.</li>
<li>What Loews Does: Loews Corp is a holding company that is supported by a variety of businesses.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082724&amp;t=be2bearmibe3na1"> trend in L stock.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="908" height="823" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043722/image-258.png" alt="" class="wp-image-515235" style="width:603px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043722/image-258.png 908w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043722/image-258-300x272.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043722/image-258-768x696.png 768w" sizes="(max-width: 908px) 100vw, 908px" /></a></figure>
<h3 class="wp-block-heading">Sunnova Energy International</h3>
<ul>
<li>The Trade: Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>) Director William J Berger sold a total of 77,000 shares at an average price of $11.31. The insider received around $871,039 from selling those shares.</li>
<li>What's Happening: On Aug. 21, Morgan Stanley analyst Andrew Percoco maintained Sunnova Energy Intl with an Equal-Weight and raised the price target from $11 to $13.</li>
<li>What Sunnova Energy International Does: Sunnova Energy International Inc is a residential solar and energy storage service provider company.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082724&amp;t=be2bearmibe3na1">breakout in NOVA shares.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="868" height="826" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043807/image-259.png" alt="" class="wp-image-515238" style="width:572px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043807/image-259.png 868w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043807/image-259-300x285.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/27043807/image-259-768x731.png 768w" sizes="(max-width: 868px) 100vw, 868px" /></a></figure>
Check This Out: 
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<li><a href="https://www.benzinga.com/news/24/08/40551343/wall-streets-most-accurate-analysts-spotlight-on-3-industrials-stocks-delivering-high-dividend-yield">Wall Street&#8217;s Most Accurate Analysts Spotlight On 3 Industrials Stocks Delivering High-Dividend Yields</a></li>
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Insider Trades

MSFT

NOVA

SYNA

Microsoft, Synaptics And 2 Other Stocks Executives Are Selling

<a href="https://x.com/CanBorder/status/1825931256208474318" title="https://x.com/CanBorder/status/1825931256208474318">https://x.com/CanBorder/status/1825931256208474318</a>

JBLU

ULCC

Canada Border Services Agency Post On X, "There is currently a partial systems outage impacting airports. We are working with partners on fixing the issue. We apologize for any inconvenience this outage may cause and thank you for your patience."

Brighthouse Financial, Inc. - Common Stock

GOCO

OSCR

RELI

SLQT

Shares of insurance companies are trading lower amid overall weakness following concerns for recently issued US economic data.

Meteorologists are tracking a low-pressure system in <a href="https://www.benzinga.com/markets/esg/24/05/39012013/noaa-meteorologists-predict-aggressive-hurricane-season-what-it-means-for-home-depot-generac-other-s">the Atlantic Ocean </a>just east of of the Caribbean Islands that may develop into a tropical storm by the time it reaches the U.S. over the next few days.
The storm is &#8220;relatively dormant or poorly organized&#8221; as a tropical wave, but it may strengthen as it approaches Florida, AccuWeather<a href="https://www.accuweather.com/en/hurricane/caribbean-and-us-on-alert-as-tropical-rainstorm-may-strengthen/1673320"> reported</a>.
A tropical wave is a low-pressure area that moves from the Indian Ocean across Africa to the Atlantic Ocean and sometimes develops into a tropical depression, tropical storm or hurricane. Tropical waves typically increase in August due to high water temperatures and less disruption from dry air, dust and wind shear, which are stiff, steady breezes.
&#8220;Around this weekend, the wave will move into an area with fairly low shear and ample moisture, and that could allow some organization and strengthening,&#8221; Alex DaSilva, AccuWeather&#8217;s lead hurricane expert, said.
Read Also: <a href="https://www.benzinga.com/top-stories/24/07/39668096/hurricane-beryl-expected-to-weaken-to-tropical-storm-as-it-hits-texas">Hurricane Beryl Expected To Weaken To Tropical Storm As It Hits Texas</a>
&#8220;The tropical wave is currently battling a harsh environment in a sea of dry air as it moves west across the Atlantic. The dry air is working to keep the wave from gaining any organization during this week,&#8221; he added.
The tropical wave is expected to strengthen into tropical rainstorm after meeting with &#8220;another ripple in the atmosphere,&#8221; AccuWeather said, but it is unknown exactly when and where that will happen.
This feature will interact with another ripple in the atmosphere in the short term, causing the two to consolidate into one low-pressure area.
&#8220;A major caveat is where the tropical rainstorm tracks,&#8221; DaSilva said. &#8220;If it tracks north of the Greater Antilles, then it will have a better chance to develop, as it will be removed from the towering mountains of Puerto Rico, Hispaniola and Cuba.&#8221; 
If the storm moves just to the north of the big islands of the northern Caribbean later this week, it may be a concern for the East Coast states, including Florida and the Carolinas. But if the storm tracks over the big islands, it may be more of a problem for the U.S. Gulf Coast later on, according to AccuWeather.
Price Action: Companies that make electric generators and the retailers that sell them showed mixed performances by Wednesday&#8217;s midday trading.
<ul>
<li>Generac Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) declined 1.83% to $152.72</li>
<li>Ingersoll Rand Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IR#NYSE">IR</a>) picked up 1.36% to $100.2</li>
<li>The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) gained 1.25% to $368.29 </li>
<li>Loews Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>) slipped 0.35%</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39581491/whats-going-on-with-cruise-stocks-as-category-4-hurricane-beryl-churns-in-the-caribbean">What&#8217;s Going On With Cruise Stocks As Category 4 Hurricane Beryl Churns In the Caribbean?</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Retail Sales

Tropical Wave In Atlantic May Strengthen Into Storm, Poses Threat To US Coastlines

Loews Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>) reported <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n40005963/loews-corporation-reports-net-income-of-369-million-for-the-second-quarter-of-2024" rel="noreferrer noopener">second-quarter 2024 net income of $369 million</a>, up 2.5% year-over-year. EPS was $1.67, up from $1.58 year-ago.
Revenues grew to $4.27 billion from $3.39 billion a year ago.
CNA Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAN#NYSE">CAN</a>) revenue contribution increased to $3.52 billion from $3.30 billion a year ago, and net income rose to $291 million from $255 million a year ago.
CNA&#8217;s net income attributable to Loews improved year-over-year due to higher net investment income partially offset by higher catastrophe losses.
Boardwalk Pipelines segment&#8217;s revenues rose to $488 million from $365 million in the year-ago quarter, and net income rose to $70 million from $57 million the prior year.
Boardwalk Pipelines&#8217; results improved year-over-year due to higher re-contracting rates and new growth projects.
&#8220;Loews had another good quarter driven by strong results at CNA and Boardwalk. CNA continued to experience profitable growth while Boardwalk capitalized on strong fundamentals in the natural gas pipeline business,&#8221; commented James S. Tisch, President and CEO.
Loews Hotels&#8217; revenues declined to $251 million from $254 million a year ago, and net income fell to $35 million from $74 million a year ago. The decline was due to lower joint venture income and higher expenses from the new Loews Arlington Hotel despite a $36 million acquisition gain.
As of June 30, 2024, the company had $3.1 billion in cash and investments and $1.8 billion in debt.
Loews repurchased 2.4 million shares for $180 million in Q2 and an additional 0.2 million shares for $14 million in Q3. As of June 30, 2024, there were 219.7 million shares outstanding.
Additionally, Lowes <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n40005949/loews-corporation-announces-ceo-transition" rel="noreferrer noopener">announced the retirement of James Tisch</a> as President &amp; CEO as of December 31, 2024; Benjamin Tisch was elected as successor. James Tisch will become chairman of the board, and Benjamin and Alexander Tisch will join the board. Andrew and Jonathan Tisch will transition to Directors Emeriti.
Price Action: L shares were trading higher by 6.13% at $85.00 premarket at the last check on Monday.
Image via Unsplash

Management

Movers

Loews Clocks Strong Q2 Performance, CEO James Tisch To Retire, Benjamin Tisch Named Successor

General

Loews shares are trading higher following Q2 earnings.

Loews Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>) announced today that, as part of its leadership succession plan, on December 31, 2024, James Tisch will retire as President and CEO and will be succeeded by Benjamin Tisch, current Senior Vice President, Corporate Development and Strategy. As part of the leadership transition, James Tisch will become Chairman of the Board of Directors, and Benjamin Tisch and Loews Hotels &amp; Co&#39;s CEO Alexander Tisch will join the Board. Also, Andrew Tisch and Jonathan Tisch will transition from Directors to Directors Emeriti.

Loews President & CEO James Tisch To Retire As Of Dec 31,2024; Board Elects Benjamin Tisch As President & CEO

Loews (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>) reported quarterly earnings of $1.67 per share. This is a 5.7 percent increase over earnings of $1.58 per share from the same period last year. The company reported $4.27 billion in sales this quarter. This is a 8.46 percent increase over sales of $3.93 billion the same period last year.

Loews Q2 EPS $1.67 Up From $1.58 YoY, Sales $4.27B Up From $3.93B YoY

Loews's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>) short percent of float has fallen 8.99% since its last report. The company recently reported that it has 1.45 million shares sold short, which is 0.81% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.76 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Loews Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1719430222_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Loews has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Loews's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Loews's peer group average for short interest as a percentage of float is 2.16%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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