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Northrop Grumman's (NOC +1.6%) results may be stronger than they appear, as charges of $231M for...

Northrop Grumman's (NOC +1.6%) results may be stronger than they appear, as charges of $231M for debt buybacks are cloaking improvements across all lines. The company now expects $6.40-6.60 in 2011 EPS on about $27.5B in sales - maybe not comparable to consensus of $6.99 EPS and $35.72B in revenues that likely includes soon-to-be-spun-off shipbuilding.
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