Jul. 8, 2014, 8:39 AM| Jul. 8, 2014, 8:39 AM | Comment!
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
Apr. 23, 2014, 12:05 AM| Apr. 23, 2014, 12:05 AM | Comment!
Apr. 22, 2014, 5:30 PM| Apr. 22, 2014, 5:30 PM | Comment!
Apr. 16, 2014, 9:12 AM
- The Pentagon would have to cut $40B of its planned spending on operations and maintenance from 2016-2019 if Congress doesn't stop automatic budget cuts that are due to take effect in 2016.
- In a report yesterday, the DOD also said the R&D budget would fall $18B to $337B.
- Companies that would be affected include Lockheed Martin (LMT) and its F-35 program, Boeing (BA), Northrop Grumman (NOC), United Technologies (UTX), GD (GD) and Huntington Ingalls Industries (HII).
Mar. 24, 2014, 3:57 AM
- As expected, South Korea has formally selected Lockheed Martin's (LMT) F-35 jet for the country's F-X fighter acquisition program, with Reuters reporting that the government expects to pay 7.34T won ($6.79B) for 40 planes.
- South Korea plans to finalize the deal in Q3 and take the first delivery in 2018.
- South Korea's decision follows a report that the F-35 faces more delays due to software problems and that Italy could further scale back a program to purchase 90 F-35s. (PR)
- South Korea also confirmed that it intends to acquire four of Northrop Grumman's (NOC) Global Hawk unmanned aircraft. The drones will cost 880B won and deliveries are set to begin in 2018.
Feb. 24, 2014, 2:58 PM
- The Pentagon announces plans to shrink the U.S. Army to pre-WW II levels - to fewer than 450K from the current 520K - in order to meet 2015 spending caps.
- Also planned for elimination is the Air Force's fleet of A-10 Warthog close air support planes - a change some influential lawmakers are expected to oppose - to ensure continued funding of Lockheed Martin's (LMT +1.7%) new long-range F-35 bomber and a new aerial refueling tanker.
- Nevertheless, top defense stocks are solidly higher, presumably because the Defense Department envisions warfare being waged using enhanced technologies: BA +1.4%, GD +1.5%, NOC +1.9%, RTN +2.2%, HII +0.9%.
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