Northrop Grumman Stock In Focus As Aerospace Giant Awarded $481M Army Agreement: Retail's Neutral
Synopsis
Retail sentiment on the stock turned ‘neutral’ from ‘bearish’ a day ago
Global aerospace and defense tech giant Northrop Grumman ($NOC) stock was in the spotlight on Thursday as the company reportedly secured a $481.33 million agreement from the US Army, boosting retail sentiment.
The contract is a ‘hybrid’ and aimed at updates and improvements to the Integrated Air and Missile Defense Battle Command System’s software used by the US armly, according to Fly.com.
The related work will be performed in McLean, Va.; Huntsville, Ala., and Orlando, Fla. among other locations. The contract has a reported completion date of Dec 30, 2029.
Retail sentiment on the stock turned ‘neutral’ from ‘bearish’ a day ago while message volumes climbed into the ‘high’ zone.
For its most recent quarter, Northrop reported better-than-expected earnings.The firm’s third-quarter (Q3) earnings per share (EPS) came in at $7, beating Wall Street estimates of $6.08.
Revenue rose 2% year-over-year (YoY) to $10 billion. Its overall revenue rose on the back of higher sales from its main divisions including the Mission Systems, Aeronautics Systems and Defense Systems.
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