Cardiff Oncology shares plunge after Q2 earnings miss
Loews Corporation (NYSE:L), a $18.79 billion market cap company trading near its 52-week high at $89.62 and boasting an impressive one-year return of approximately 19%, announced that Jonathan M. Tisch will retire as Executive Chairman of its subsidiary, Loews Hotels Holding Corporation, effective December 31, 2025. According to a recent SEC filing, Tisch will remain available for consulting services to Loews Hotels & Co, offering up to 200 hours per year at an hourly rate. This information is based on a statement from a recent press release.
In other recent news, Loews Corporation reported its first-quarter earnings, revealing a revenue of $4.49 billion despite facing challenging conditions in the insurance sector. The company posted an earnings per share of $1.74. Its largest subsidiary, CNA Financial, experienced a decrease in core income to $281 million from $355 million in the same quarter last year, largely due to lower underwriting results in its Property & Casualty segments. However, CNA Financial saw growth in gross written premiums by 7% and net written premiums by 9% in its P&C segments. Additionally, Loews Corporation held its 2025 Annual Meeting of Shareholders, where all nominated directors were elected, and several key proposals, including the "Say on Pay" and the ratification of Deloitte & Touche LLP as the independent auditor, were approved. Shareholders also passed the 2025 Incentive Compensation Plan despite a higher number of votes against it compared to other proposals. In another development, the company announced the upcoming retirement of Richard W. Scott, its Senior Vice President and Chief Investment Officer, effective December 31, 2025. Loews Corporation has not yet disclosed a successor for Scott.
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