Weekly News Roundup: Northrop Grumman (NYSE:NOC)

Here are this week’s stock briefs for Northrop Grumman (NYSE:NOC). Northrop Grumman (NYSE:NOC) stocks ended the week at 69.57 (as of 2/4/2011). Weekly News Roundup: Northrop Grumman (NYSE:NOC) Monday 31 January Northrop Grumman (NYSE:NOC) has decided to spin off its shipbuilding business into a new corporate entity. As a part of this move, the defense giant is selling its shipbuilding operations and yards including Newport News Shipbuilding in Virginia, the Ingalls shipyard at Pascagoula, and the Avondale yard in New Orleans. Northrop Grumman (NYSE:NOC)'s shipbuilding business will be spun off within a few weeks to become a separate corporate entity called Huntington-Ingalls Industries (HII). Richard Schenk, Northrop Grumman (NYSE:NOC)'s head of tests and trials said, "This is the last DDG to be delivered for a while and this team has set the bar very high. This is the best one yet, and it may be the best destroyer they've ever built." Tuesday 1 February Northrop Grumman (NYSE:NOC) has appointed a new chief for its operations in Italy. Helen Pickup has been named as the new general manager of Northrop Grumman (NYSE:NOC)'s navigation systems subsidiary based in Italy. In her new role, Pickup will be responsible for all programs and operations at Northrop Grumman (NYSE:NOC), which provides high-accuracy inertial navigation systems, integrated navigation and safety systems. Helen Pickup joined Northrop Grumman (NYSE:NOC) in 2005 and has more than 20 years experience in high-technology businesses including advanced materials. Wednesday 2 February Northrop Grumman (NYSE:NOC) has received a new research contract from the US Air Force. Under the contract, Northrop Grumman (NYSE:NOC) will demonstrate information interoperability among different service-oriented architecture (SOA) information technology (IT) systems across the air and space command and control domains. Mike Twyman, vice president of integrated command, control, communications and intelligence systems for Northrop Grumman’s (NYSE:NOC) Information Systems sector said, "By partnering with Air Force Research Laboratory, we will jointly recommend and demonstrate novel strategies to manage and orchestrate data flow and content delivery across the realms of air and space command and control." Thursday 3 February Northrop Grumman (NYSE:NOC) has entered into a long term agreement with defense supplier Quickstep. Under the deal, Quickstep will start supplying components for Northrop Grumman (NYSE:NOC)'s F-35 Joint Strike Fighter by 2012. This newly signed Long Term Agreement (LTA) will see Quickstep manufacturing up to 16 different JSF components worth $700 million at Bankstown in Sydney over the next 20 years. Dr. Ram Ramkumar, Northrop Grumman's (NYSE:NOC) director of F-35 international programs said, "We look forward to Quickstep's involvement in the JSF program, and their production of F-35 composites subassemblies that will be delivered to our assembly operations in Palmdale, California." We will be monitoring the Northrop Grumman stock level for developments over the next few weeks.
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