loews has been rallying steadily since its june low. loews fourth quarter earnings were much better than predicted, beating the street by 29 cents. investment income helped results. now, loews is a financial conglomerate. it owns 90% of insurer c.n.a. and a majority stake of diamond offshore drilling. loews says diamond has the size to compete with a new deep water energy driller combination. that combination is pride international and ensco. it was one of several deals we mentioned earlier. here's how the market reacted. pride shares shot to 16%, still about $2 below the buyout price. shares dropped here back in the spring and summer thanks to the b.p. oil disaster, but today's rally takes it to a new 52-week high. the buyer, ensco, saw some selling, slipping 4%. just last week, the stock was at a new yearly high. while we're talking about energy, chesapeake staged a breakout rally, jumping 4% as volume tripled. it confirmed plans to sell some assets. and analysts expect it to use the money to pay down debt. that helped raise up its st