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Northrop Grumman Warns of $3 Billion Or More Charge Due To Stock Market Woes

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By Calvin Biesecker Northrop Grumman [NOC] yesterday warned investors that it will take a non-cash, after-tax charge of between $3 billion and $3.4 billion in the recent fourth quarter for impairment of goodwill due to the collapse of the stock market in the last few months of the year, resulting in losses for both the quarter and all of 2008. However, the company was quick to point out that its earnings from continuing operations before the impact of the charge…

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