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Northrop Grumman, the American defense contractor, lowers profit forecast.
On April 22, Jin10 reported that American defense contractor Northrop Grumman Corporation announced that its first-quarter profits fell short of analysts' expectations and lowered its earnings forecast for the year due to rising costs associated with the next-generation B-21 stealth bomber. Northrop stated that its earnings per share declined by 47% in the first quarter, primarily due to new loss provisions related to the B-21. On Tuesday, the company's stock price fell nearly 10% in pre-market trading.