January 20, 1999 |
Newport News Shipbuilding Inc., the largest maker of nuclear aircraft carriers, agreed to buy Avondale Industries Inc. for about $470 million in stock, a deal that would create a company capable of designing, building and maintaining the entire Navy fleet. The new company would have annual revenue of about $2.6 billion and nearly 24,000 employees. The proposed acquisition would cut the number of U.S.
April 22, 1999 |
Northrop Grumman Corp. said Wednesday that its first-quarter profit fell slightly on slumping sales of B-2 bombers and other weapons, but still exceeded Wall Street forecasts. Profit from operations fell to $104 million, or $1.50 a share, from $105 million, or $1.52, a year earlier. The results beat the $1.33 average estimate of analysts polled by First Call Corp. Sales rose 4.2% to $2.1 billion.