Loews Posts Profit vs Year-Earlier Loss
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Loews Corp. , the conglomerate controlled by the Tisch family, on Thursday posted a third-quarter profit compared with a year-earlier loss, when its CNA Financial affiliate increased its reserves for asbestos, lawsuits and other matters.
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Net income at Loews fell to $512 million, hurt by subprime investment losses at its CNA Financial insurance business and weaker results in its tobacco and drilling units.
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Ford Motor Co., the nation's second-biggest automaker, said Thursday it swung to a profit of $104 million in the fourth quarter from a loss of $793 million a year ago, when it incurred heavy charges for restructuring in Europe and a new agreement with its top supplier hurt the bottom line.
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Loews Corp., the conglomerate  controlled by the Tisch family, on Thursday said fourth-quarter  profit rose 37 percent, helped by investment gains at insurer  CNA Financial Corp., its largest business.
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Loews Corp  said on Monday third-quarter profit fell 12.5 percent, as the cost of a legal settlement at its CNA Financial Corp  offset improved results in tobacco and drilling operations.
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For the period that ended Dec. 31, the company reported a loss of $16 million, or 11 cents a share, in contrast to a profit of $18 million, or 12 cents a share, in the period a year earlier.
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Business software maker Novell Inc.  posted a preliminary quarterly profit on Tuesday, bouncing back from a year-earlier loss when it took a $38 million restructuring charge.
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Business software maker Siebel  Systems Inc. SEBL.O on Wednesday reported a quarterly profit,  after a year-earlier net loss, helped by sales of new software.
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The companyâs second-quarter profit rose 37 percent after factoring in losses from assets it sold, but on a continuing basis results fell on buyout costs at its newspapers.
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The newspaper publisher reported profit of $365.7 million on the sale of several newspapers. Excluding the gain, earnings fell on weaker advertising.
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- Jeans maker Levi Strauss & Co. on  Tuesday posted a quarterly profit, compared with a year-earlier  loss, helped by sales of higher-priced products in Europe and  Asia and lower costs.
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Animated film studio DreamWorks Animation SKG Inc (DWA) on Wednesday reported a profit from a year-earlier loss in its first public earnings period since the company went public in October.
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US Airways Group Inc.  on Thursday reported a third-quarter profit compared with a year-earlier loss, topping expectations on strong demand and higher fares.
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Reynolds American Inc. RAI.N, the No.  2 U.S. cigarette maker, on Tuesday posted a quarterly profit,  compared with a year-earlier loss, helped by a restructuring  and cost savings following the merger that formed the company  last year.
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No 2. U.S. book retailer Borders  Group Inc. BGP.N on Tuesday posted a quarterly loss versus a  year-ago profit, hurt by sluggish store traffic and a slowdown  in sales of bestsellers.
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TiVo posted a small quarterly profit reversing a year-ago loss on higher revenue from subscribers to its digital video recording service.
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U.S. forest products company Weyerhaeuser Co.  posted a quarterly profit on Friday, versus a year-earlier loss, helped by a refund of duties and an increased profit from its real estate business.