Northrop Grumman Lifts 2016 Outlook; Stock Up

(RTTNews) - Northrop Grumman Corp. (NOC) said that it raised its earnings per share guidace for fiscal year 2016 to a range of $11.55 - $11.75 from the prior outlook of $10.75 - $11.00 per share. It also increased its 2016 sales outlook to a range of $23.90 billion - $24.10 billion from the previous estimation of $23.50 billion - $24.00 billion.

Analysts polled by Thomson Reuters expected the company to report earnings of $11.05 per share and revenues of $23.82 billion for fiscal year 2016. Analysts' estimates typically exclude special items.

In the pre-market trade, NOC is currently trading at $223.96, up $4.43 or 2.02%.