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Northrop Grumman Corporation (NOC)

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  • Sep. 9, 2013, 5:53 PM
    • Northrop Grumman (NOC) has been awarded a contract for around $219M from the U.S. Air Force for follow-on production of its Joint Threat Emitter.
    • The contract provides for JTE first article and production units, and associated drawings, technical orders, retrofit kits, provisioning, and software.
    • Work is expected to be completed around March 2016.
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  • Sep. 9, 2013, 3:55 PM
    • Northrop Grumman (NOC +0.4%) says it's been retained by the United Kingdom's Defence Science and Technology Laboratory to carry out further development of the N.Guru Cyber Situational Awareness System - a software application for the visualisation of cyber events for decision makers.
    • The award will be carried out by NOC in partnership with the Universities of Oxford and South Wales.
    • This work is part of the U.K.'s Cyber Research Program as part of its effort to develop concepts, tools and techniques to provide cyber situational awareness for users.
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  • Aug. 29, 2013, 8:25 AM
    • Northrop Grumman (NOC) has agreed to acquire Qantas Airways' (QUBSF.PK) defense unit, which provides support for customers such as the Royal Australian air force and services planes that transport government dignitaries.
    • The deal is part Northrop's efforts to boost its international business amid defense cuts in the U.S. Financial details weren't disclosed.
    • Meanwhile, Northrop yesterday won two orders worth $66M in total, one for the U.S. Navy and the other for the French Air Force.
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  • Aug. 22, 2013, 6:37 AM
    • Northrop Grumman Corporation (NOC) declares $0.61/share quarterly dividend, in line with previous.
    • Forward yield 2.60%
    • Payable Sept. 3; for shareholders of record Sept. 3; ex-div Aug. 29.
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  • Aug. 21, 2013, 11:28 AM
    • "We're making a lot of progress." That, in a nutshell, is the latest from Northrop Grumman's (NOC +0.6%) ongoing fight to keep Germany on board with a planned €1.2B investment in four Euro Hawk drones.
    • The initiative was effectively shelved after the German government determined it would cost between €500-600M to secure aviation approval.
    • NOC thinks the certification cost is more like €180M and has "provided over 4K technical documents, sent engineers to a German air base to provide German authorities with detailed insight into the system and opened the Euro Hawk testing activities to German certification authorities," Reuters says.
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  • Aug. 19, 2013, 3:49 PM
    • Citigroup has upped price targets on several defense stocks today, saying that its previous model was based on information from previous defense spending drops, and failed to take into account key changes in the structure of the industry.
    • It's raising General Dynamics (GD +0.5%) from $97 to $101, Huntington (HII +0.1%) from $72.50 to $95, Lockheed (LMT -0.2%) from $122 to $149, Northrop (NOC -0.1%) from $96 to $132, Raytheon (RTN -0.5%) from $80 to $91.
    • Earnings estimates on all stocks remain unchanged, and all five stocks maintain their Buy ratings.
    | 2 Comments
  • Jul. 25, 2013, 10:32 AM
    Northrop Grumman (NOC -0.3%) wins a $617M contract for five additional E-2D Advanced Hawkeye surveillance aircraft, used by the Navy to detect threats from afar.
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  • Jul. 25, 2013, 8:59 AM
    BofA/ Merrill Lynch upgrades Northrop Grumman (NOC) to Neutral from Underperform following the company's Q2 report which beat on both lines.
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  • Jul. 24, 2013, 3:49 PM
    What sequester? Handily beating the S&P 500 this year are two aerospace and defense ETFs, ITA and PPA. Both have added to gains the last few sessions as top holdings Boeing (BA), Lockheed Martin (LMT), Northrop Grumman (NOC), and General Dynamics (GD) all posted earnings beats even as defense spending has been slashed. International and commercial orders are helping, but so are long-term contracts. "We are not out of the woods at all," says Boeing CEO Jim McNerney on the earnings call (transcript). "We are entering the woods."
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  • Jul. 24, 2013, 8:27 AM
    More on Northrop Grumman's (NOC) Q2: Revenue comes in at $6.294B, beating estimates by $314M. Operating margin rises 50 basis points Y/Y, operating income is up 4%. Revenue growth by segment: Aerospace, 9%; Electronic Systems, 2%; Information Systems, -9%; Technical Services -8%. The aerospace unit benefits from "higher volume for manned [and] unmmaned military aircraft." The "current U.S. government budget environment" contributes to a decrease in total backlog of $3.1B since December. FY13 guidance: $7.60-7.80/ share (well above consensus) on $24.3B in sales. Shares +3.1% premarket. (PR)
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  • Jul. 24, 2013, 7:28 AM
    Northrop Grumman (NOC): Q2 EPS of $2.05 beats by $0.34. (PR)
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  • Jul. 24, 2013, 12:05 AM
    Notable earnings before Wednesday’s open: ABC, AOS, ARMH, ARW, ATI, BA, CAT, CFR, CKSW, CP, CVE, DAL, DPS, ECA, ELN, EMC, EVR, F, GD, GNTX, ICON, LAD, LCC, LL, LLY, MCO, MDCO, MSA, MSI, MTH, NDAQ, NOC, NOR, NYCB, OC, OCR, PCH, PEP, PLD, PVR, PX, RAI, RCI, RDN, RES, RLGY, SAVE, STX, TEL, TMO, TROW, TUP, WLP, WYN
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  • Jul. 23, 2013, 5:30 PM
    Notable earnings before Wednesday’s open: ABC, AOS, ARMH, ARW, ATI, BA, CAT, CFR, CKSW, CP, CVE, DAL, DPS, ECA, ELN, EMC, EVR, F, GD, GNTX, ICON, LAD, LCC, LL, LLY, MCO, MDCO, MSA, MSI, MTH, NDAQ, NOC, NOR, NYCB, OC, OCR, PCH, PEP, PLD, PVR, PX, RAI, RCI, RDN, RES, RLGY, SAVE, STX, TEL, TMO, TROW, TUP, WLP, WYN
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  • Jul. 9, 2013, 7:00 AM
    Raytheon (RTN) has won a $279M 22-month deal from the navy to develop a radar jamming device to be used on Boeing EA-18G Growler combat aircraft. Raytheon beat out incumbent Northrop Grumman (NOC) and others for a contract that analysts reckon could eventually be worth billions of dollars. The development period will be followed by an engineering and manufacturing phase of 4 1/2 years, with the jammer slated for deployment in FY 2020.
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  • Jul. 3, 2013, 8:24 AM
    Lockheed Martin (LMT), Boeing (BA) and BAE Systems (BAESF.PK) are vying to win deals to upgrade fleets of F-16 fighter jets, with the market worth an estimated $12B over the next nine years. LMT, which makes the planes, reckons that its contract with the U.S. Air Force to renew the American fleet puts it in the driving seat to win contracts with other nations. Raytheon (RTN) and Northrop Grumman (NOC) could also benefit with their radar upgrades.
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  • Jun. 20, 2013, 1:39 PM
    Paris Air Show: Northrop Grumman (NOC -0.1%) has been awarded a contract by the U.K. Ministry of Defence to design, develop, integrate, test and support a Fuel Quantity Indicator System for the Sentry E-3D Airborne Warning and Control System aircraft based at RAF Waddington. The work will be performed under the company's existing Sentry E-3D Whole Life Support Program. The contract modification is valued at around $17M over 3 years.
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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