Jul. 23, 2014, 10:44 AM
- Northrop Grumman (NOC +0.6%) raised its full-year 2014 profit forecast despite missing EPS estimates and reporting a sales decline. The company now expects a range of $9.15 to $9.35 per share from the $8.90 to $9.15 per share it announced in April.
- Sales declined 4.1% Y/Y to $6.04B as the government decreases spending and winds down the war in Afghanistan.
- Net income displayed a modest rise, increasing 4.7% Y/Y to $511M from $488M.
- Q2 earnings
Jul. 23, 2014, 7:09 AM
Jul. 22, 2014, 5:30 PM
Jul. 10, 2014, 9:03 AM
- Lockheed Martin (LMT) states industry investment of $170M over the next two years will result in $1.8B in savings for the F-35 Joint Strike Fighter program, cutting the cost of each fighter jet by about $10M to about $80M.
- The announcement comes after the Pentagon's release of the "Blueprint for Affordability" project, stating that Lockheed and two main subcontractors, Northrop Grumman (NOC) and BAE Systems (BAESY), will only recover their investment and any profit if cost reductions to the jet were made.
- There is still no word if the F-35 will be making its debut at two international air shows tomorrow and next week in the U.K.
Jul. 9, 2014, 8:46 AM
Jul. 8, 2014, 8:39 AM
Jul. 3, 2014, 9:57 AM
- Northrop Grumman (NOC +1.1%) has received certification from Lloyd's Register Quality Assurance for its Lake Charles Maintenance and Modification Center. The certification further brands the Northrop Grumman name within the aerospace maintenance and repair industries. The company has one other certified center is located in Australia.
Jul. 1, 2014, 7:14 AM
Jun. 18, 2014, 11:03 AM
- Northrop Grumman (NOC -0.5%) has received a $238M modification to a former firm-fixed-price contract from the U.S. Air Force.
- The company will deliver hardware and support for the Large Aircraft Infrared Countermeasure (LAIRCM) system, which detects missile launches and tracks them to determine threat status.
Jun. 10, 2014, 9:01 AM
Jun. 5, 2014, 9:24 AM
- Northrop Grumman (NOC) has won a contract from the U.S. Army to develop a miniaturized navigation grade inertial system for the Defense Advanced Research Projects Agency (DARPA).
- The initial value of the contract is $648k, but has potential to grow to $13.4M after the initial 12-month base contract.
- The award comes after Northrop Grumman won a five-year contract on Tuesday valued at up to $9.9B from the U.S. Air Force to modernize and support the B-2 stealth bomber.
Jun. 4, 2014, 12:38 PM
- Northrop Grumman (NOC +0.3%) won a five-year contract valued at up to $9.9B from the U.S. Air Force to modernize and support the B-2 stealth bomber, the Pentagon announced late yesterday.
- The contract calls for B-2 enhancements, software maintenance, and other support services, including scheduled maintenance of the bombers.
- The Defense Department has expressed a need for 80-100 new bombers, and NOC faces competition from the team of Boeing (BA) and Lockheed Martin (LMT), which last October announced a partnership to compete for the LRS-B program that will replace the B-2.
May 21, 2014, 7:14 AM
May 2, 2014, 1:34 PM
- Joel Greenblatt's screen looks to find stocks with high "earnings yield" - a high ratio of profits to enterprise value. Companies are further screened for a strong return on capital. When a stock scores well with both criteria, it's usually a good company being undervalued by investors.
- For picking individual stocks, there are probably better methods, but as a group, Magic Formula names have vastly outperformed the broad market.
- Although defense names have done well over the past couple of years, the Magic Formula continues to identify Northrop Grumman (NOC +0.2%), General Dynamics (GD +1.4%), and Raytheon (RTN +0.6%) as attractive. Firearm names Smith & Wesson (SWHC +0.8%) and Sturm Ruger (RGR +0.3%) also make the cut.
- A number of videogame makers show up as well: Take-Two (TTWO +0.3%), Activision Blizzard (ATVI +0.2%), GameStop (GME +2.8%), and the struggling recent IPO King Digital (KING -0.3%).
- Not too surprisingly, the Magic Formula also continues to like plenty of big-cap tech names: Cisco (CSCO -0.2%), CA, Inc. (CA -0.5%), Microsoft (MSFT -0.5%), Hewlett-Packard (HPQ -0.5%), and Apple (AAPL +0.1%).
- Hardly market laggards, media names like Time Warner (TWX -0.8%), Viacom (VIA +1.4%), Omnicom Group (OMC), and Starz (STRZA +2.3%) also show up on the list, as do struggling multi-level marketers and for-profit education stocks: HLF, NUS, APOL, ESI, CPLA.
- Punished by investors for not being as hot as they once were, Coach (COH +0.2%), Francesca' Holdings (FRAN +0.1%), and Gap (GPS -1.3%) are Magic Formula picks today.
Apr. 23, 2014, 8:42 AM
- Northrop Grumman (NOC) net profit +18% to $579M, including $51M tax benefit.
- Segment operating income $757M vs $748M; margin 12.9% vs 12.3%.
- Sales breakdown: Aerospace Systems -3% to $2.42B; Electronic Systems -4% to $1.64B; Information Systems -6% to $1.58B; Technical Services -3% to $697M.
- Upgrades 2014 EPS guidance to $8.90-9.15 vs prior outlook of $8.70-9.00 and consensus of $8.93; revenue outlook unchanged at $23.5-23.8B vs forecast of $23.72B. (PR)
Apr. 23, 2014, 7:03 AM
NOC vs. ETF Alternatives
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