Northrop Grumman Stock Plummets

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Northrop stock

The Motley Fool

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Business

Business & Economics

No Good Deed Goes Unpunished at Northrop Grumman, as Cost Improvements Cut Profits in Half

Summary

Nutrition label

76% Informative

Northrop Grumman ( NYSE : NOC ) stock tanked 12.6% after reporting earnings on Tuesday .

Year over year , the defense company suffered a significant slide in sales in Q1 .

The company blamed the decline on the "wind-down of work on the restricted space and Next Generation Interceptor ( NGI ) programs".

Defense business is working hard to ramp production on the B-21 , and performing in a manner that's likely to endear it to cost-cutters in the Trump administration.

If you liked Northrop Grumman stock before this week 's sell-off, and weren't scared off by the pricey valuation then, I don't necessarily think you should sell it now that it's nearly 12% cheaper.

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