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Northrop Grumman Corp

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  • Air Force acquisition chief William LaPlante said the Air Force would likely also adopt a "cost-plus" type contract for the development phase of the new bomber, given that it would include more new technologies than mature technologies. The Air Force expects to award a contract valued at $50 billion to $80 billion this summer for development and procurement of...

  • WASHINGTON, Feb 27- The Air Force urgently needs a new long-range bomber to replace its aging fleet and will keep costs at or below a $550 million cap for each warplane, top U.S. officials told lawmakers on Friday. Air Force Secretary Deborah James said the Air Force understood that runaway costs had to be contained, and noted that a sharp reduction from the planned...

  • *Gold's price premium over platinum tops $50/ oz. *Platinum, gold spread at highest in nearly 2 years. LONDON, Feb 20- Platinum's discount to gold hit its highest level on Friday since the gold price crash of April 2013, as concerns over the euro zone outlook lifted demand for the yellow metal as a haven, while dampening sentiment towards platinum.

  • WASHINGTON, Feb 18- Lockheed Martin Corp executives said on Wednesday they were confident the company would not face capacity constraints working on both the F-35 program and a new bomber if the U.S. Air Force chose its joint bomber bid with Boeing Co.. Boeing is the prime contractor for the bid. The U.S. Air Force has said it plans to award a contract for development...

  • Lockheed says technology investments cut cost of F-35 jets Wednesday, 18 Feb 2015 | 12:00 PM ET

    WASHINGTON, Feb 18- Lockheed Martin Corp said a series of manufacturing changes and technology investments were already driving down the cost of the F-35 fighter jet, and the savings were set to triple in the ninth batch of jets to be produced. Under the initiative, Lockheed and its key suppliers, Northrop Grumman Corp and Britain's BAE Systems agreed to invest...

  • The policy, the details of which are classified, comes after a two-year review amid growing demand from U.S. allies for the new breed of weapons that have played a key role in U.S. military action in Afghanistan, Iraq and Yemen. Privately held General Atomics, maker of the Predator and Reaper drones, Northrop Grumman Corp, Textron Inc and other arms makers have been...

  • A State Department official declined comment on Italy's request to add weapons to the Reaper drones it already flies, or Turkey's request for sales of an armed drone, but said the requests would be reviewed in light of the new policy. General Atomics, the privately held maker of the Predator drone, Northrop Grumman Corp and other weapons makers have been urging...

  • Jobs for drones are set to take off Friday, 6 Feb 2015 | 8:02 AM ET
    Student in a UAV lab at Embry-Riddle Aeronautical University

    As the FAA considers drones for commercial use, demand is spiking for the engineers needed to design the aircraft, and operators needed to run them.

  • WASHINGTON, Feb 5- The Pentagon's plans to fund 50 percent more F-35 fighter jets in fiscal 2016 will help drive down the price of the new plane and its engine, a top official at engine maker Pratt& Whitney, a unit of United Technologies Corp, said on Thursday. The Pentagon plans to spend nearly $400 billion to develop and build 2,457 of the radar-evading warplanes...

  • -$3.4 billion for 16 P-8 maritime surveillance planes built by Boeing Co.. -$3 billion for continued development of Boeing's KC-46A refueling planes, or tankers. -$11.6 billion for nine new ships, including smaller coastal warships built by Lockheed and Australia's Austal, an aircraft carrier being built by Huntington Ingalls Industries, and other submarines...

  • WASHINGTON, Feb 2- The U.S. Air Force's fiscal 2016 budget released on Monday delayed a long-awaited competition for a new air-ground surveillance aircraft to replace the E-8C Joint Surveillance Target Attack Radar System. The JSTARS program has been delayed repeatedly, although potential bidders had been heartened by statements from Air Force officials...

  • WASHINGTON, Feb 2- The U.S. Defense Department's budget request released on Monday would boost funding for research, development and procurement of weapons by 13 percent to $190 billion in fiscal 2016, including nearly $11 billion for the Lockheed Martin Corp F-35 fighter jet. -$3.4 billion for 16 P-8 maritime surveillance planes built by Boeing Co..

  • Lightning Round: Need to listen to me & break up Thursday, 29 Jan 2015 | 7:36 PM ET
    Mad Money Lightning Round

    Are you ready skeedaddy???!!! It's time for the Lightning Round. Cramer makes the call on viewer favorites.

  • *Expects 2015 earnings $9.20- $9.50/ share vs est $9.11. *Earnings $2.48/ share vs est $2.25. U.S. defense suppliers have cut costs and increased sales to markets outside the United States as the Pentagon tries to cut about $1 trillion in spending over a decade as required by a 2011 law.

  • Northrop Grumman beats Street 4Q forecasts Thursday, 29 Jan 2015 | 10:38 AM ET
    Northrop Grumman Unmanned MQ-8C Fire Scout

    Northrop Grumman on Thursday reported fourth-quarter earnings of $506 million.

  • Early movers: MCD, F, DOW, BABA, COH & more Thursday, 29 Jan 2015 | 8:21 AM ET
    Trader on the floor of the New York Stock Exchange.

    Some of the names on the move ahead of the open.

  • Jan 29- Northrop Grumman Corp, maker of Global Hawk unmanned surveillance planes, forecast 2015 earnings above analysts' estimates and said order backlog increased 3 percent. The Pentagon is trying to cut $1 trillion in spending over a decade. Net income rose to $506 million, or $2.48 per share, from $478 million, or $2.12 per share, a year earlier.

  • Northrop Grumman profit forecast beats Street Thursday, 29 Jan 2015 | 7:20 AM ET

    Jan 29- U.S. weapons maker Northrop Grumman Corp forecast 2015 earnings above analysts' estimates and said backlog increased 3 percent. The company said it expects a profit of $9.20- $9.50 per share for 2015.. Analysts on average were expecting $9.11 per share, according to Thomson Reuters I/B/E/S.

  • Midday movers: Lockheed Martin, Plantronics & more Tuesday, 27 Jan 2015 | 1:05 PM ET
    Wall Street subway station NYSE

    Some of Tuesday's midday movers:

  • Northrop presses for more U.S. drone exports Wednesday, 21 Jan 2015 | 7:03 PM ET

    WASHINGTON, Jan 21- Northrop Grumman Corp Chief Executive Wes Bush on Wednesday lauded the U.S. government for approving exports of some unmanned aerial vehicles, or drones, and said more work was needed to keep up with technological advances in other countries. Bush said U.S. defense officials increasingly recognized the need to update U.S. policy given the...