Northrop Grumman Outlook Downgraded

Monday, May 14, 2001
Goldman Sachs lowered its rating on U.S. military contractor Northrop Grumman Corp. to market perform from outperform. In a report, analyst Howard Rubel said the downgrade stemmed from potential dilution and distraction over a bid for Newport News Shipbuilding Inc. He said a combination between Northrop and Newport News may not produce the benefits for Northrop or the U.S. Navy that a General Dynamics Corp.-Newport News deal would. General Dynamics and Northrop have competing bids for the shipbuilder. General Dynamics agreed to buy Newport News for $2.1 billion in cash, while Northrop is offering $2.1 billion mostly in stock. At Northrop, Rubel said, "Discretionary cash flow over the next six to 18 months is likely to be modest, and we feel that valuation will be impacted by the payment of $1 billion in deferred taxes in 2002." Northrop, however, could benefit from "promising opportunities in space, systems integration and the potential for synergies associated with the Litton acquisition," Rubel said. - (Reuters)
Maritime Reporter February 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Imabari to Build 20,000TEU Containerships

Imabari Shipbuilding Co., Ltd. announced it has secured newbuild orders with the cooperation of Marubeni Corporation for 11 units of 20,000TEU Ultra-Large Container Carriers,

SSI Launches ShipConstructor 2015 R2.1

SSI has today released ShipConstructor 2015 R2.1 software.   The software release comes in response to emerging ship design, engineering and building trends as

HII Acquires Engineering Solutions Division

Huntington Ingalls Industries (HII) has acquired the Engineering Solutions Division of The Columbia Group, a designer and builder of unmanned underwater vehicles

Navy

Naval EXPO Coming to Washington

For the first time ever, the general public will be admitted free to the Naval Future Force Science and Technology EXPO general exhibit hall Feb. 4-5 where they

HII Acquires Engineering Solutions Division

Huntington Ingalls Industries (HII) has acquired the Engineering Solutions Division of The Columbia Group, a designer and builder of unmanned underwater vehicles

NASSCO to Christen Third MLP, Lewis B. Puller

Shipbuilder General Dynamics National Steel & Shipbuilding Co. – NASSCO – will christen the USNS Lewis B. Puller (MLP 3 AFSB) Saturday, February 7, 2015 in San Diego.

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1255 sec (8 req/sec)