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Northrop Grumman Corporation (NOC)

- NYSE
  • Tue, May 12, 9:55 AM
    • Northrop Grumman (NOC -0.5%) has been awarded a £28.8M contract by the U.K. Home Office to provide service to the Forensic and Biometric Interim Capability (FABrIC).
    • Under the two-year FABrIC contract, a recompete of IDENT1, Northrop will maintain and enhance IDENT1 core software, which provides identity management and crime scene forensic systems.
    | Tue, May 12, 9:55 AM | Comment!
  • Wed, Apr. 29, 8:06 AM
    • Net income of $484M, or $2.41 per diluted share vs. $579M, or $2.63 per diluted share in the first quarter of 2014.
    • The company repurchased 5.3M shares of its common stock for $859M during the quarter. As of March 31, 2015, the company had repurchased 47.5M shares toward its previously announced goal of retiring 60M shares by the end of 2015.
    • Total backlog as of March 31 was $38.4B compared with $38.2B a year ago.
    • The company also raised its earnings forecast for the full year to a range of $9.40-$9.60 from an earlier range of $9.20-$9.50.
    • NOC +2.1% premarket
    • Q1 results
    | Wed, Apr. 29, 8:06 AM | Comment!
  • Wed, Apr. 29, 7:09 AM
    • Northrop Grumman (NYSE:NOC): Q1 EPS of $2.41 beats by $0.14.
    • Revenue of $5.96B (+1.9% Y/Y) beats by $200M.
    • Press Release
    | Wed, Apr. 29, 7:09 AM | Comment!
  • Tue, Apr. 28, 5:30 PM
  • Mon, Apr. 27, 7:09 AM
    • Northrop Grumman (NYSE:NOC) announces a new contract to provide gyrocompass navigation systems for 12 Kingston Class coastal defense vessels of the Royal Canadian Navy.
    • Northrop's Sperry Marine business unit has also been selected by Maersk (OTCPK:AMKBY) to upgrade radar and ECDIS systems on more than 80 vessels.
    | Mon, Apr. 27, 7:09 AM | 1 Comment
  • Wed, Mar. 25, 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.
    | Wed, Mar. 25, 8:27 AM | Comment!
  • Tue, Mar. 24, 9:26 AM
    • Under a new $1.21M contract, CPI Aerostructures (NYSEMKT:CVU) will supply Northrop Grumman (NYSE:NOC) with pod structural housings for its Airborne Laser Mine Detection System.
    • The contract also includes options that could bring its cumulative value to $6.75M.
    | Tue, Mar. 24, 9:26 AM | Comment!
  • Thu, Mar. 19, 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.
    | Thu, Mar. 19, 4:33 PM | Comment!
  • Thu, Mar. 12, 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.
    | Thu, Mar. 12, 11:33 AM | Comment!
  • Wed, Mar. 4, 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.
    | Wed, Mar. 4, 9:21 AM | Comment!
  • Wed, Feb. 18, 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
    | Wed, Feb. 18, 8:58 AM | 6 Comments
  • Wed, Feb. 18, 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.
    | Wed, Feb. 18, 4:38 AM | Comment!
  • Fri, Feb. 13, 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.
    | Fri, Feb. 13, 11:31 AM | 15 Comments
  • Fri, Feb. 13, 8:04 AM
    • The U.S. Navy has awarded Northrop Grumman (NYSE:NOC) a contract valued at up to $267M to design an updated electronic warfare package for surface warships.
    • The program will give the ships enhanced capabilities for early detection, analysis, threat warning and protection from anti-ship missiles.
    | Fri, Feb. 13, 8:04 AM | Comment!
  • Mon, Feb. 2, 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.
    | Mon, Feb. 2, 1:35 PM | Comment!
  • Thu, Jan. 29, 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
    | Thu, Jan. 29, 7:44 AM | 1 Comment
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Company Description
Northrop Grumman Corporation is a security company providing systems, products and solutions in unmanned systems, cybersecurity; command, control, communications and computers (C4) intelligence, surveillance, and reconnaissance.
Country: United States