UPDATE: Loews Posts Q4 Profit

Loews Corp. L reported better-than-expected earnings for the fourth quarter. The New York-based company posted quarterly net income of $208 million, or $0.55 per share, versus a year-ago net loss of $198 million, or $0.51 per share. Income from continuing operations declined to $215 million, or $0.57 per share, compared to $248 million, or $0.64 per share. However, analysts were expecting earnings of $0.53 per share. Its total revenue shrank 7% to $3.52 billion. During the quarter, Loews repurchased 5.0 million shares of its common stock at an aggregate cost of $207 million. At December 31, 2014, book value per share excluding accumulated other comprehensive income surged to $50.95, compared to $49.38 at December 31, 2013. CNA Financial's quarterly earnings fell to $198 million, or $0.73 per share, down from $221 million, or $0.82 per share, in the year-ago period. Diamond Offshore Drilling's quarterly rose to $99 million, or $0.72 per share, versus $93 million, or $0.67 per share, in the year-ago period. Loews shares rose 0.02% to close at $40.74 on Friday.