Northrop Grumman Cuts Earnings Outlook on Stealth Bomber Costs
Northrop Grumman Corp. reported lower first-quarter profit than analysts expected and cut its earnings outlook for the year as manufacturing costs rose and the company stepped up investments in production of the B-21 bomber.
Per-share profit fell by 47% in the first quarter, primarily due to loss provisions tied to the first production batch of B-21 stealth bombers, the company said Tuesday in a statement. Revenue declined 7% to $9.47 billion.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
5 hours ago
- Miami Herald
It sounds sick, but Iran hostilities may be good for stocks
So, President Trump ordered B-2 bombers to drop bunker-busting bombs on three Iranian nuclear facilities late Saturday. He pronounced the result "a spectacular success," with Iran's nuclear enrichment facilities "completely and totally obliterated." There will be lots of media coverage Sunday and beyond on whether the operation worked and whether the United States will be dragged into a third war in the Middle East since 1991. Don't miss the move: Subscribe to TheStreet's free daily newsletter A question for investors, however, is this: How will stocks react? Related: Everyone should keep an eye on this Persian Gulf island There are some unknowns. There's been no verification that Iran's nuclear enrichment facilities are, in fact, totally obliterated. It's not clear if Iran will try to cut a deal to stop the Israeli and U.S. bombing or opt somehow to play a long game of defending itself with missile shots at Israel and U.S. military bases in the Middle East. Nonetheless, there's a good chance Wall Street will seize on the attacks as a prime stock-buying opportunity. That's what happened in 2003's Second Gulf War when U.S.-led forces invaded Iraq and toppled the dictatorial regime of Saddam Hussein. Related: Tesla releases new details about its next big deal Stocks started to tumble in late January 2003 as another war against Iraq became inevitable. The Standard & Poor's 500 Index was down as much as 9% for the year on March 11. But then investors started to believe the invasion would go well, and the S&P 500 started to recover. Indeed, when Baghdad fell on April 9, 2003, the index had recovered all the early losses and was up 8.2% from the March low. And stocks never looked back. The S&P 500 finished up 26.4% in 2023. The gain from the March 2003 low to year-end: 38%. Mirrorpix/Getty Images One will be able to see how investors and markets are looking at the conflict starting at 6 p.m. ET Sunday. That's when futures trading in the S&P 500, the Dow Jones industrials and the Nasdaq-100 starts. Gains like 2003 might not happen. Iran was lobbing missiles at the Israeli cities of Tel Aviv and Haifa into Sunday. And, so far, there's no hint that Iran's leadership wants a cease fire. A prolonged fight might be bad for stocks. Iran has missiles and drones to deploy. It could block off Strait of Hormuz, through which 25% of the world's crude oil is shipped. Blocking the strait would send global oil prices sharply higher and cause havoc for the global economy. in fact, oil prices already have reacted. As tensions have grown between Israel and Iran (and now the United States), crude oil has climbed 29.3% to $73.84 per 42-gallon barrel from a May 5 closing low. U.S. gasoline prices have risen, too, about 4% or so, to about $3.20 a gallon, according to Related: Major analysts predict oil prices if Strait of Hormuz blocked Oil companies would profit. In fact, stocks in the S&P 500's Energy Sector are up 9.2% so far in June, the best performance by any of the 11 S&P 500 sectors. Oil-and-gas producer APA Corp. (APA) , the sector leader is up 15.8% over the last month, according to data. Exxon Mobil (XOM) has jumped 9.3%; Chevron (CVX) is has risen almost 9%. More Experts Analyst makes bold call on stocks, bonds, and goldTheStreet Stocks & Markets Podcast #8: Common Sense Investing With David MillerVeteran fund manager sends dire message on stocks Theoretically, the first-quarter earnings seasons is done, but some of the late stragglers due this week are important. These include: FedEx (FDX) , after Tuesday's close. FedEx shares have struggled, but there is hope. The delivery giant is doing business again with (AMZN) , and its business overall is growing again. But shares are off nearly 20% this year because of tariff worries. Earnings are estimated to rise 8.9% from a year ago to $5.89 a share. Revenue will be off slightly at $21.8 giant Carnival Corp. (CCL) , before Tuesday's open. Between August 2024 and Jan. 30, the shares doubled to $28.49 because bookings were beyond terrific. Then, the shares fell 49%, thanks to the Trump tariff plan and the mini-stock panic. Carnival is back to $23.77. The quarterly revenue estimate of $6.2 billion is up 7.3% from a year ago. Earnings of 24 cents a share would be up 118%.Chip maker Micron Technology (MU) shares are up 47% this year, and Wall Street likes - no, loves - the stock, whose chips have carved out a lucrative spot in artificial intelligence. In fact, the shares are already ahead of one analyst's one-year price target. The revenue estimate is $8.8 billion, up nearly 30% from a year ago. Earnings of $1.59 a share would be up 156%.Nike (NKE) is having a challenging year. The shares are down 21% this year, third-worst among the Dow Jones industrial stocks. True, it's selling athletic wear and shoes again on but it is extremely vulnerable to the Trump tariff hikes. Barrons says Nike's factories in Vietnam, Indonesia and China manufacture 50%, 27% and 18% of all its footwear. (Yes, that adds up to 95% of production.) The Nike revenue estimate: $10.7 billion, down 15.1% from a year ago. Earnings of 12 cents would be down 88%. Related: Veteran fund manager who predicted April rally updates S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
a day ago
- Yahoo
Live updates: ICE arrests NYC mayoral candidate Brad Lander; Trump weighs Iran moves
President Trump is back at the White House on Tuesday after leaving the G7 summit in Canada a day early to deal with Israel-Iran war. The big decision for Trump may be whether to use America's B-2 bombers to drop the GBU-57 bunker-busting bombs on the Fordow nuclear facility in Iran that is buried in a mountain. Israel launched its attack on Iran last week with the goal of cutting off Iran's capability of acquiring nuclear weapons that could be launched into Israel. That goal probably cannot be reached without the U.S. or U.S. weaponry, as Israel has neither the bombs nor the planes to fly them. At midday Tuesday, Trump said on his Truth Social platform that there were no plans to target Iran's supreme leader 'for now,' amid signals his administration was weighing potential action against Tehran. He also touted having control of Iran's skies: 'Nobody does it better than the good ol' USA,' he said on Truth Social. But there are divides within the GOP and Trump's own MAGA movement over the wisdom of becoming even more embroiled in the Israel-Iran war. Iran has warned that doing so would forever cut off the possibility of nuclear talks, and Trump campaigned against getting the U.S. into any long-running wars. Eyes in Congress will be on that conflict, but also on the Senate, where the Finance Committee released the final piece of the GOP's budget puzzle on Monday evening. It sheds light on its proposed cuts to Medicaid, its tax plans and more. Worth reading: What to know as Israel-Iran conflict hits fifth day Democratic drama: Union leader exits underscore DNC divisions Here's what's in the Senate GOP's version of Trump's 'big, beautiful bill' Follow along on these stories and more today. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Miami Herald
2 days ago
- Miami Herald
Forget Tesla robotaxis, this grocery chain tries wild delivery method
Lately, it seems that humans are willingly allowing technology to take over, as evidenced by the upcoming release of self-driving taxis. Don't miss the move: Subscribe to TheStreet's free daily newsletter For years, Tesla has been trying to develop robotaxis. The Tesla robotaxi or Cybercab is an autonomous electric vehicle that uses self-driving technology to transport passengers. This innovative method of transportation is intended to roll out by the end of June in Austin, Texas. Related: Walmart makes deal to open popular food chain in stores Meanwhile, grocery stores have introduced various new ways to make getting groceries easier and more convenient for busy consumers. Thanks to these developments, consumers now have more options than ever, including curbside pickup, delivery, or the old-school way of driving to the nearest grocery store and picking the items up yourself. However, this Southern supermarket is unexpectedly changing the game by testing an innovative new way for customers to access needed items. And not even Tesla owner Elon Musk saw it coming. Image Source:H-E-B, a Texas-based grocery store chain with over 435 locations across Texas and Mexico, is known for its high-quality products sold at low prices. Unlike rival grocery store giants like Walmart (WMT) and Kroger (KR) , H-E-B has not expanded to other states in the U.S., despite its inception 120 years ago and being Texans' favorite place to shop for groceries. This is why the supermarket's latest move came as a surprise to many. Related: Forget drones, Amazon has new robots that could replace humans H-E-B revealed it has begun testing an autonomous vehicle delivery service at one of its locations in none other than Austin, Texas, in partnership with Avride, an autonomous vehicle development company. Since May, the grocery store chain has delivered groceries to customers within a one-mile radius who order through the H-E-B-owned delivery app Favor. The self-driving robots can carry up to 10 small items and are the size of a medium-sized box. They drive as fast as up to five miles per hour and can travel around 31 miles when fully charged. The robots use sensors and cameras to avoid bumping into obstacles and identify traffic signals. They can also move in nearly all weather conditions. More Retail News: Bankrupt retail chain makes major comeback, reopens new storesGoogle brings Iron Man/Tony Stark tech to regular peopleAfter bankruptcy, closed clothing chain hints at comeback H-E-B has not announced whether it plans to extend this service to other locations, as the test is still in its infancy. However, if successful, this new way of delivering groceries could soon become the norm or even inspire other major grocery stores to launch their own versions. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
