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Mar. 25, 2015, 8:27 AM
- Northrop Grumman (NYSE:NOC) has been selected by the Royal Canadian Air Force to provide infrared missile protection on its fleet of CH-147F Chinooks.
- The defense company's various infrared countermeasure systems are now installed or scheduled for installation on more than 1,000 military aircraft around the world.
Mar. 24, 2015, 9:26 AM
Mar. 19, 2015, 4:33 PM
- Northrop Grumman (NOC -0.2%) has been awarded a task order by the Defense Information Systems Agency to continue its lead role on the Acropolis and Sensor Operations program - a capability that protects DISA-managed networks from cyber-attacks.
- The award is worth up to $73.6M over four years.
Mar. 12, 2015, 11:33 AM
- Sikorsky Aircraft would be a sought-after property if United Technologies (UTX +2%) follows through with a sale, probably as a tax-free spinoff that could be valued on a stand-alone basis of $7B-$8.5B, or $8-$10/share, Sterne Agee's Peter Arment calculates.
- Citi's Jason Gursky says a deal should be met favorably, Sikorsky is not well aligned with UTX’s vision of being exposed to end markets that will likely benefit from the world’s growing middle class.
- Gursky is looking to Northrop Grumman's (NYSE:NOC) 2011 spinoff of Huntington Ingalls as an example, which led to the levering up of the spinco and the repurchase of the parent company stock.
- Management has put no timeline on the potential alternative outcomes, but Arment expects a conclusion by mid-summer 2015.
Mar. 4, 2015, 9:21 AM
- The U.S. Air Force's RQ-4 Global Hawk program saw a significant decrease in cost per flight hour, bringing down the system's cost to the point of being half of a manned alternative.
- Northrop Grumman's (NYSE:NOC) aircraft also saw close to a 40% increase in flight hours from 2013 to 2014 and maintained a perfect safety record during the year following its designation as the safest platform in the Air Force's active inventory in 2013.
Feb. 18, 2015, 8:58 AM
- As a step toward providing allied nations with weapons, the U.S. government has established a policy that will permit the widespread export of armed drones for the first time.
- Under the new rules, foreign governments' requests for drones will be examined on a case-by-case basis, while recipient nations must agree to certain "end-use assurances."
- To date, the U.S. has sold its armed drones only to Britain. Unarmed military drones, used primarily for intelligence, have been sold to several countries, including France and Italy.
- The shift in policy comes just days after the FAA proposed rules that would lift some restrictions on drones for commercial use.
- Related stocks: AVAV, NOC, TXT, LMT, LLL, RTN, BA, SAIC, GD, OA, COL, UTX
Feb. 18, 2015, 4:38 AM
- Northrop Grumman (NYSE:NOC) declares $0.70/share quarterly dividend, in line with previous.
- Forward yield 1.67%
- Payable March 18; for shareholders of record March 2; ex-div Feb. 26.
Feb. 13, 2015, 11:31 AM
- Dennis Ruhl of the JPMorgan Intrepid Value fund sees some potential bargains hatching in the slumping energy sector, and he particularly favors ConocoPhillips (NYSE:COP).
- Ruhl says COP looks better than its energy peers from a momentum standpoint, and likes that the company was one of the first to cut capex in response to the collapse in energy prices and has done so aggressively.
- COP trades at just 1.5x book value vs. the energy sector average of 1.8x and the S&P 500's 2.8x; the stock boasts a 4.3% dividend yield, which Ruhl believes is safe.
- The fund manager's other four favorite value picks are ANTM, NOC, HPQ and KR.
Feb. 13, 2015, 8:04 AM| Feb. 13, 2015, 8:04 AM
Feb. 2, 2015, 1:35 PM
- Northrop Grumman (NOC -0.4%) has received a $21.6M contract from the U.S. Navy for two additional Littoral Combat Ship mission packages (one for surface warfare and the other for mine countermeasures).
- The second contract is for the continued production of the AN/AES-1Airborne Laser Mine Detection System, which is mounted on an MH-60S helicopter and can geolocate mine-like objects in the near-surface of the ocean.
Jan. 29, 2015, 7:44 AM
- Net income of $506M vs. $478M in the fourth quarter of 2013. Pension-adjusted diluted EPS of $2.26 vs. $2.00, a year ago.
- The company repurchased 4.5M shares of its common stock for $599M during the quarter. As of Dec. 31, 2014, the company had repurchased 42.2M shares toward its previously announced goal of retiring 60M shares of its common stock by the end of 2015.
- Total backlog as of Dec. 31 was $38.2B compared with $37B a year ago.
- The company expects full-year 2015 earnings of $9.20-$9.50 per share on revenues of $23.4B-$23.8B.
- Q4 results
Jan. 29, 2015, 7:01 AM
- Northrop Grumman (NYSE:NOC): Q4 EPS of $2.26 beats by $0.01.
- Revenue of $6.1B (-1.0% Y/Y) beats by $110M.
Jan. 28, 2015, 5:30 PM
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Jan. 22, 2015, 7:38 AM
- Northrop Grumman (NYSE:NOC) Chief Executive Wes Bush praised the U.S. government yesterday for approving exports of more drones, but warned that additional work was needed to to address the U.S. industry's losing market share due to bans on larger drone exports.
- The U.S. has been reluctant to tinker with the export controls for fear it may allow sensitive technology to fall into hostile hands, but officials say a revamped policy on exports may be released soon.
- Northrop, the builder of Global Hawk drones, has urged the government to develop a "firm set of principles against which we can all operate."
Jan. 20, 2015, 4:56 PM
- The U.S. Air Force will re-evaluate proposals received in a competition for a long-range radar system initially won by Raytheon (NYSE:RTN) after losing bidders Lockheed Martin (NYSE:LMT) and Northrop Grumman (NYSE:NOC) filed protests, Reuters reports.
- It is unclear how long the re-evaluation of the bids would take, but Reuters says one source indicated it could include a more technical assessment of proposals submitted by the companies.
- RTN in October beat out LMT and NOC to develop a replacement for the Air Force's current TPS-75 radar, which has been in service since the late 1960s.
Jan. 15, 2015, 7:49 AM
- Boeing (NYSE:BA) has asked the U.S. Air Force to explain its recent $963.5M ICBM contract awarded to Northrop Grumman (NYSE:NOC).
- "Boeing is disappointed by the decision...and will determine a path forward following completion of the debrief," said Boeing spokeswoman Queena Jones, when asked if Boeing could file a protest against the contract.
- Northrop's award runs through 2020 and covers sustainment engineering and program management services for ICBM ground subsystems at a range of U.S. Air Force bases.
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