Northrop Receives USAF Order of Global Hawk UAVs for South Korea

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The U.S. Air Force will supply South Korea with four Northrop Grumman-built (NYSE: NOC) RQ-4B Block 30 Global Hawk unmanned aerial vehicles, two spare engines and ground control environment components under a foreign military sale worth $657.4 million. The Defense Department said Tuesday that Northrop will also equip the aircraft with the Enhanced Integrated Sensor Suite. The sale is part of...

Carl Hahn Joins Northrop as VP, Chief Compliance Officer; Sheila Cheston Comments

Carl Hahn
Carl Hahn Carl Hahn, formerly associate general counsel and trust and compliance officer at IBM Corp. (NYSE: IBM), has joined Northrop Grumman (NYSE: NOC) as vice president and chief compliance officer. He will succeed the retiring Judy Perry Martinez on Jan. 15, 2015 and report to Sheila Cheston, corporate VP and general counsel, Northrop Grumman said Monday. Hahn most recently led IBM’s compliance...

Ken Bedingfield to Succeed James Palmer as CFO, Corporate VP

Kenneth Bedingfield
Kenneth Bedingfield Ken Bedingfield, currently vice president of corporate finance at Northrop Grumman (NYSE: NOC), has been elected by the board of directors to serve as corporate VP and chief financial officer. Bedingfield will assume his new positions following the company’s 2014 annual report and oversee financial planning, accounting, internal audit, treasury, contracts and pricing, trust...

December 8 Morning Report: GovCon Index Posts Gains at Friday’s Close

GovConIndex
The GovCon Index closed at 70.063 on Friday, an increase of 0.541 percent, or 0.386 points, from Thursday trading.   The Dow Jones grew 0.33 percent to close at 17,958.79, the Standard & Poor’s 500 recorded a 0.02 percent gain to 2,072.30 and the NASDAQ increased 0.11 percent to 4,774.59. Reuters attributed the positive trading Friday to a Labor Department report citing a three-year...

December 5 Market Close: GovCon Index Gains as Jobs Report Sets 3-Year High

GovConIndex
The GovCon Index rebounded some ground Thursday with an increase of 0.541 percent — or 0.386 points — to close at 70.063 on Friday. Stocks largely increased Friday after the release of the Labor Department‘s jobs report, which said U.S. businesses added 321,000 new employees in November to set a new high for the past three years, according to Reuters. The Dow Jones Industrial...

Northrop Board OKs Additional $3B Stock Buyback Plan

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Northrop Grumman (NYSE: NOC) will repurchase an additional $3 billion of its common stock following approval from the board of directors. The company said Thursday that further share repurchase transactions are subject to authorization from management as well as market conditions. The Wall Street Journal reported that Northrop plans to buy back 25 percent of its shares before the end of 2015. Tess...

IARPA Taps IBM, Northrop, Raytheon BBN Teams for Cryogenic Computer Tech Program

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The Intelligence Advanced Research Projects Activity has selected three industry teams to perform research and development work on a future energy-efficient superconducting computer as part of IARPA’s multi-year Cryogenic Computer Complexity program. The Office of the Director of National Intelligence said Wednesday that teams led by IBM, Northrop Grumman and Raytheon‘s BBN Technologies...

Richard Stapp Joins Northrop as VP of Aerospace Systems Tech Development

Richard Stapp
Richard Stapp Richard Stapp, formerly director of special programs at the office of the defense secretary, has joined Northrop Grumman (NYSE: NOC) as vice president of technology development in the company’s aerospace systems sector. The retired Air Force brigadier general will report to Dale Burton, VP of research and technology within Northrop’s aerospace systems sector, Northrop...

Japan Chooses Bell Boeing-Built Osprey Aircraft, Northrop’s Global Hawk ISR System; Caroline Hutcheson Comments

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Japan has moved to purchase the Bell Boeing (NYSE: BA)-built V-22 Osprey tiltrotor aircraft for an undisclosed amount through a foreign military sale agreement with the U.S. government, Defense News reported Friday. Aaron Mehta writes the East Asian nation also procured the Northrop Grumman (NYSE: NOC)-developed Global Hawk unmanned surveillance system and E-2D Hawkeye aircraft. Boeing spokesperson...

Patrick Antkowiak Promoted to CTO, Corporate VP at Northrop

Patrick Antkowiak
Patrick Antkowiak Patrick Antkowiak, formerly a vice president and general manager at Northrop Grumman‘s (NYSE: NOC) electronic systems sector, has been promoted to chief technology officer and a corporate VP by the company’s board of directors with immediate effect. The company said Thursday that Antkowiak, a 33-year Northrop veteran, will develop and oversee the company’s technology...