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Northrop Grumman (NOC -2.8%) slips on a downgrade to Sell on valuation at UBS this morning,...

Northrop Grumman (NOC -2.8%) slips on a downgrade to Sell on valuation at UBS this morning, citing concerns over it's outsized exposure to a declining U.S. defense budget. As our military commitments draw down globally, the looming fiscal cliff debate puts it squarely against cuts to hot point programs like Medicare coverage, Social Security benefits and safety net programs for the poor.
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