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Northrop Grumman (NOC) Wins Army Contract

by Jocelynn Drake (jdrake@sir-inc.com) 8/6/2007 11:28 AM

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Sticking with the defense sector for a moment, Northrop Grumman (NOC: sentiment, chart, options) announced this morning that it received a $37-million contract from the U.S. Army to provide integrated training to personnel at Fort Leavenworth, Kansas. The Unit Training Support contract covers a base year and 4 option years.

"This win reinforces our position at the forefront of training development and our support to U.S. Army operational centers worldwide," said Mike Roberts, vice president and general manager of the Training and Simulation Group at Northrop Grumman's Technical Services sector.

The shares of NOC are up 2% this morning and continue to climb along the steady support of their 10-week and 20-week moving averages. These intermediate-term trendlines have guided the shares higher since November 2005.

Despite the equity's impressive rally, investors remain skeptical of the shares. Schaeffer's put/call open interest ratio for NOC rests at 0.52, which is higher than roughly three-quarters of all those taken during the past 52 weeks. This combination of technical strength and lingering pessimism has bullish implications from a contrarian perspective.

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