Loews Corporation is a holding company whose subsidiaries are engaged in property, casualty and life insurance, the production and sale of cigarettes & watches, and the operation of hotels and oil and gas drilling rigs. For the FY ended 12/31/00, revenues fell 1% to $21.34B. Net income before accounting change totaled $1.88B, up from $521.1M. Results reflect lower insurance premiums, offset by decreased insurance claims and policyholders% benefits.

February 27, 2001

Loews Corporation is a diversified holding company that provides property, casualty and life insurance, hotel operation services, and offshore oil and gas drilling services. The company also manufactures cigarettes, watches, and clocks. The stock has been on fire over the past year. Shares of LTR hit a four-year low of $38.25 last March. On Tuesday, the stock hit an intra-day high of $106.90, representing a 178% gain and a new three-year high. On February 20th, the company announced a 2:1 split, payable on March 20th, and we believe that LTR has started its split run. Going forward, support is the February 16th intra-day high of $105.40 with additional support at Monday’s intra-day high of $103.06. Resistance is the 12/5/97 close of $107.56 and then the 11/21/97 close of $108.50. Traders may consider entry points on a bounce off of $105.40 or a breakout above $107.56 on volume of at least 225,000 shares by noon. We plan to place stops at $98.50 to limit potential losses.

Picked on February 27th @ $106.40
Change since picked +0.00
Stop Loss @ $98.50

March 8, 2001

Diversified holding company Loews Corporation is on a winning streak, having posted gains in each of the last five sessions. On Thursday, shares of LTR traded to a three-year high of $114.80 on volume of 598,000 shares. LTR continues to benefit from the sector rotation out of NASDAQ issues and into the safer NYSE names. The stock has solid momentum as we move closer to the 2:1 split, payable on March 20th. However, a weak payroll number on Friday could lead to some profit taking. Going forward, LTR has support at Wednesday’s intra-day high of $112.90 with additional support at $111.67, the 5-dma. Resistance has moved up to Thursday’s intra-day high of $114.80 and then the all-time high of $115.62. Traders should be looking for a bounce off of $112.90 or a breakout above $114.80 on midday volume of at least 225,000 shares before starting new plays. We are bumping our stops up to $111.50 to protect in the recent gains.

Picked on February 27th @ $106.40
Change since picked +8.00
Stop Loss @ $111.50

March 6, 2001

Loews Corporation, a holding company with majority stakes in the insurance, cigarette, hotel, oil, and clock industries, is hitting some resistance after reaching a new 52-week high of $111.76 last week. On Tuesday, shares of LTR fell to an intra-day low $109.90 before recovering later in session. The stock closed at $111.53 on volume of 416,000 shares. LTR continues trend higher as we approach the 2:1 split, payable on March 20th. However, the stock is up 13% in just seven sessions so it may need to consolidate before it moves higher. For now, LTR has support at Monday’s intra-day low of $110.10 with stronger support at $109.43, the 5-dma. Resistance is holding steady at Friday’s intra-day high of $111.76 and then the 11/5/97 intra-day high of $113.87. Traders may consider entry points on a bounce off of $110.10 or a breakout above $111.76 on volume greater than 225,000 shares by noon. We have moved our stops up to $109 to lock in profits.

Picked on February 27th @ $106.40
Change since picked +5.13
Stop Loss @ $109.00

March 4, 2001

Loews Corporation, a diversified holding company with majority stakes in CNA Financial Corp., cigarette maker Lorillard, Loews Hotels, Diamond Offshore Drilling Inc., and watchmaker Bulova Corp., has posted gains in four of the last five sessions. On Friday, shares of LTR traded to a 52-week high of $111.76 before pulling back to a close of $109.11 on volume of 559,000 shares. The stock has made 4 consecutive 52-week highs on strong volume so it could be ready to challenge its all-time high of $115.62 as we move closer to the 2:1 split, payable on March 20th. In the meantime, LTR has support at Friday’s intra-day low of $107.80 with additional support at the 5-dma, currently at $106.79. Resistance has moved up to Friday’s intra-day high of $111.76 and then $113.87, the 11/5/97 intra-day high. A bounce off of $107.80 or a breakout above $111.76 on midday volume of at least 225,000 shares may be possible entry points. Our stops remain at $98.50 to limit potential losses.

Picked on February 27th @ $106.40
Change since picked +2.71
Stop Loss @ $98.50