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News Breaks
August 6, 2014
10:37 EDTGD, NOC, HIINorthrop awarded contracts from U.S. Navy, others for DDGs
Northrop Grumman (NOC) has been awarded contracts from the U.S. Navy, General Dynamics (GD) Bath Iron Works and Huntington Ingalls (HII) Industries to provide integrated bridge and navigation systems and steering gear systems to modernize Arleigh Burke-class guided missile destroyers, or DDGs. Naval Sea Systems Command exercised options for the acquisition and testing of five integrated bridge and navigation systems valued at $11M. General Dynamics Bath Iron Works and Huntington Ingalls Industries jointly exercised options for six steering gear systems valued at $30M. Back fit installation of the IBNS systems by the Navy will be conducted at the home ports of the vessels during their modernization windows. For the new build ships, steering gear systems and IBNS systems will be installed at the shipyards of Bath Iron Works and Huntington Ingalls Industries. Deliveries will begin in 2015 and are expected to be completed by 2021.
News For NOC;GD;HII From The Last 14 Days
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December 19, 2014
10:02 EDTGDGeneral Dynamics awarded $36M for development of Submarine technology
General Dynamics Electric Boat, a wholly owned subsidiary of General Dynamics, has been awarded a $36.5M contract modification from the U.S. Navy to develop advanced submarine technologies for current and future undersea platforms. Initially awarded in November 2010, the contract has a potential value of $710.6M over a total of five years if all options are exercised and funded.
December 16, 2014
17:21 EDTNOCNorthrop Grumman awarded $657.4M government contract
Northrop Grumman Systems has been awarded a $657.4M hybrid contract including firm-fixed-price, cost-plus-incentive-fee and cost-plus-fixed-fee undefinitized contract action for aircraft for the Republic of Korea. Contractor will provide four RQ-4B Block 30 Global Hawk air vehicles, two spare engines, and the applicable Ground Control Environment elements. Each will contain an Enhanced Integrated Sensor Suite. Work will be performed at San Diego, California, and is expected to be complete by June 28, 2019. This contract involves foreign military sales. This award is the result of a sole-source acquisition.
08:31 EDTGDBabcock & Wilcox unit awarded contract to manufacture missile tubes
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December 15, 2014
17:01 EDTNOCNorthrop Grumman names Carl Hahn Chief Compliance Officer
Northrop Grumman has named Carl Hahn vice president, chief compliance officer, effective Jan. 15. Hahn is succeeding Judy Perry Martinez, who will be retiring, and will report to Sheila C. Cheston, corporate vice president and general counsel.
December 12, 2014
11:10 EDTHIIHuntington Ingalls added to short-term buy list at Deutsche Bank
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December 11, 2014
15:35 EDTNOCNorthrop Grumman renews service contract with Carisbrooke Shipping
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10:01 EDTGDGeneral Dynamics NASSCO, Braemar LNG BV announce licensing agreement
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December 9, 2014
10:02 EDTGDGeneral Dynamics awarded $44M contract modification by U.S. Navy
The U.S. Navy has awarded General Dynamics Electric Boat a $44.5M contract modification to perform non-nuclear maintenance work for submarines homeported at the Naval Submarine Base in Groton. Electric Boat is a wholly owned subsidiary of General Dynamics. With this modification, Electric Boat will continue operating the New England Maintenance Manpower Initiative at the submarine base. Under the terms of the contract, Electric Boat will provide a wide range of overhaul, repair and modernization services in support of nuclear submarines, floating dry-docks, support and service craft and other platforms and equipment at the submarine base. About 270 Electric Boat employees are engaged in the work.This contract was first awarded in December 2012 and has a potential value of $222.3M over five years.
10:01 EDTNOCNorthrop Grumman selected by Lockheed Martin to supply navigation system
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December 8, 2014
16:36 EDTNOCNorthrop Grumman CFO Palmer to retire, Kenneth Bedingfield elected CFO
Northrop Grumman announced that its board has elected Kenneth L. Bedingfield, corporate vice president and CFO, effective after the company files its 2014 annual report. Bedingfield will succeed James F. Palmer, who has announced his intention to retire in 2015. The company expects to file its annual report in February 2015, at which time Palmer will continue as a corporate vice president with the company until he retires in the summer of 2015. This will facilitate an orderly transition. Bedingfield joined Northrop Grumman in 2011.
December 5, 2014
10:00 EDTNOCOn The Fly: Analyst Upgrade Summary
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07:55 EDTNOCNorthrop Grumman upgraded at Bernstein
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06:54 EDTNOCNorthrop Grumman upgraded to Outperform from Market Perform at Bernstein
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06:40 EDTNOCNorthrop Grumman upgraded to Conviction Buy from Buy at Goldman
Goldman added Northrop to the Conviction Buy List to reflect strength in its largest program, JSF, favorable macro exposures that include a bottoming in the U.S. defense budget, and strong free cash flow. Price target raised to $165 from $163.

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