$NOC (Northrop Grumman Corporation)

$NOC {{ '2015-08-26T19:17:25+0000' | timeago}} • Announcement

$NOC Northrop Grumman Corporation delivered on schedule the telescope structure for NASA's James Webb Space Telescope Aug. 24 to Goddard Space Flight Center in Greenbelt, Maryland, paving the way for the integration of the 18 hexagonal mirrors that will help scientists observe the formation of the first stars and galaxies over 13.5Bil years ago.

$NOC {{ '2017-12-21T14:52:32+0000' | timeago}} • Announcement

$NOC appointed Yolanda Murphy as VP of communications for its Technology Services sector, succeeding Alleace Gibbs, who will now serve as VP of communications for its Mission Systems sector, effective Jan. 1, 2018. Murphy will become a new member of Northrop Grumman's Communications Council. Gibbs will remain a member of that leadership group.

$NOC {{ '2017-12-07T14:20:53+0000' | timeago}} • Announcement

$NOC received a request for additional information from the Federal Trade Commission (FTC). This second request is part of the regulatory process in connection with the FTC’s review of $NOC's proposed acquisition of $OA. The company continues to expect the acquisition to close in 1H18.

$OA {{ '2017-11-29T17:34:31+0000' | timeago}} • Announcement

Shareholders of aerospace company $OA have approved the proposed acquisition of Orbital ATK by $NOC. More than 99% of Orbital shareholders voted in favor of approving and adopting the merger agreement. The transaction is expected to close in the first half of 2018, pending receipt of regulatory approvals.

$NOC {{ '2017-11-16T12:34:48+0000' | timeago}} • Announcement

$NOC declared a quarterly dividend of $1.00 per share on Northrop Grumman common stock, payable Dec. 20, 2017, to shareholders of record as of the close of business Dec. 4, 2017.

$OA {{ '2017-10-27T17:55:54+0000' | timeago}} • Webcast

With regard to $OA acquisition, $NOC estimates about $150MM of annual cost savings by 2020 and it has modeled some cost that will be incurred in order to get there. The company said it would look to find some additional operational synergies that certainly would work to make sure that those drive cost savings as well.

$NOC {{ '2017-10-27T17:51:19+0000' | timeago}} • Webcast

$NOC lifted 2017 Aerospace System sales forecast to $11.7-11.8Bil from $11.5-11.7Bil, its Mission Systems revenue outlook to $11.2-11.3Bil from $11.1-11.3Bil and Technology Services sales estimate to about $4.7Bil from $4.5-4.7Bil. The company raised 2017 net FAS/CAS adjustment to about $585MM from $500MM.

$NOC {{ '2017-10-27T17:51:07+0000' | timeago}} • Webcast

During 3Q17, $NOC paused its share repurchases as it was considering the $OA acquisition. Year-to-date, $NOC has spent $393MM to repurchase about 1.6MM shares. $2.3Bil remains on its current share repurchase authorization. The company said returning cash to shareholders through a competitive dividend and share repurchases remains a priority.

$NOC {{ '2017-10-25T12:59:56+0000' | timeago}} • Infographic

$NOC Northrop Grumman Corp. Earnings AlphaGraphic: Q3 2017 Highlights

$NOC {{ '2017-10-25T11:33:07+0000' | timeago}} • Announcement

$NOC lifted 2017 sales outlook to about $25.5Bil from low $25Bil and its EPS guidance to $12.90-13.10 from $12.10-12.40. The company also raised its operating margin estimate to about 13% from mid-to-high 12%, while lowering its effective tax rate forecast to about 24.5% from about 27.5%. $NOC still sees capital expenditures of about $900MM.

$NOC {{ '2017-10-25T11:29:14+0000' | timeago}} • Announcement

$NOC's sales from Technology Services for 3Q17 declined 1% to $1.18Bil from last year. This is primarily due to lower volume for System Modernization and Services, partially offset by higher intercompany volume on restricted programs in Global Logistics and Modernization.

$NOC {{ '2017-10-25T11:27:49+0000' | timeago}} • Announcement

$NOC's sales from Mission Systems for 3Q17 increased 5% to $2.84Bil from last year. This is primarily due to higher volume for Sensors and Processing and Advanced Capabilities programs, principally on higher volume on electro-optical/infrared self-protection and targeting programs, F-35 sensors and the scalable agile beam radar (SABR) program.

$NOC {{ '2017-10-25T11:25:22+0000' | timeago}} • Announcement

$NOC's sales from Aerospace Systems for 3Q17 increased 11% to $3.08Bil from last year. This is primarily due to higher volume on Manned Aircraft and Space programs. The Manned Aircraft sales rise is primarily due to higher restricted volume as well as higher F/A-18 unit volume than last year. The Space sales rise includes higher restricted volume.

$NOC {{ '2017-10-25T11:22:18+0000' | timeago}} • Announcement

$NOC's effective tax rate for 3Q17 declined to 17.8% from 21.7% last year. The lower tax rate reflects a $45MM increase in research credits related to the current period and the filing of its 2016 tax return, and a $35MM benefit recognized for additional manufacturing deductions related to prior years.

$NOC {{ '2017-10-25T11:20:07+0000' | timeago}} • Announcement

$NOC reported a 7% growth in 3Q17 earnings driven by higher net FAS/CAS pension adjustment and segment operating income. Net income rose to $645MM or $3.68 per share from $602MM or $3.35 per share last year. Sales grew 6% to $6.5Bil, on a 11% increase at Aerospace Systems.

$NOC {{ '2017-10-11T12:24:30+0000' | timeago}} • Announcement

$NOC has priced a $8.25Bil underwritten public offering of senior unsecured notes. The company intends to use the net proceeds of the offering, together with cash on hand, to finance its previously announced acquisition of $OA. The offering is expected to close on Oct. 13, 2017

$NOC {{ '2017-09-26T22:40:30+0000' | timeago}} • Announcement

$NOC's BoD has named Mark A. Caylor as Corporate VP & President, Mission Systems. Shawn N. Purvis has been named Corporate VP & President, Enterprise Services and Lesley A. Kalan has been named Corporate VP, Government Relations. Caylor, Purvis and Kalan will assume their new roles on Jan. 1, 2018.

$NOC {{ '2017-09-26T22:40:11+0000' | timeago}} • Announcement

$NOC said Gloria A. Flach, COO, and Sid Ashworth, Corporate VP, Government Relations will retire, effective Dec. 31, 2017. The BoD has elected Kathy J. Warden President & COO, effective Jan. 1, 2018.

$NOC {{ '2017-09-18T11:47:52+0000' | timeago}} • Announcement

$NOC has signed an agreement to buy aerospace company $OA for $7.8Bil in cash, plus the assumption of $1.4Bil in debt. Orbital shareholders will get all-cash consideration of $134.50 per share. The transaction, which is expected to close in 1Q18, will be accretive to earnings in first full year, and generate annual cost savings of $150MM by 2020.

$BA {{ '2017-08-22T14:27:56+0000' | timeago}} • Announcement

The US Air Force has awarded $BA to work on the preliminary design for replacing the Minuteman III intercontinental ballistic missile (ICBM). This is a 3-year contract worth $349MM. $NOC also got a separate contract worth $328MM. Development contract will be awarded to one company in 2020. US Air Force has estimated the total cost to be $62Bil.

$NOC {{ '2017-08-17T13:05:17+0000' | timeago}} • Announcement

$NOC's BoD declared a quarterly dividend of $1.00 per share on its common stock. The dividend is payable on Sept. 13, 2017, to shareholders of record as of the close of business Aug. 28, 2017.

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