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NEW YORK, Nov 2 (Reuters) - Conglomerate Loews Corp reported a third-quarter profit on Monday, reversing a year-earlier loss, as narrowing credit spreads boosted its investment portfolio. The New York-based company, run by the billionaire Tisch family, posted net income of $469 million, or $1.08 a share, from continuing operations, compared with a loss of $144 million, or 33 cents a share, in the same period a year ago. Analysts were looking for a profit of 89 cents a share excluding items, according to Reuters Estimates. Loews' largest holding is Chicago-based commercial insurer CNA Financial Corp. It also has hotel and energy businesses. Loews shares closed at $33.10 on Friday. The stock has traded in a range of $17.41 to $36.59 in the past year. (Reporting by Elinor Comlay; editing by John Wallace) Keywords: LOEWS/ (elinor.comlay@thomsonreuters.com; +1 646 223 6116) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
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