Northrop Grumman Says Katrina Will Hurt Profits

Yellow Roadway adjusts its earnings guidance, Biogen Idec plans to cut its workforce by 17%, plus more companies in the news Friday

Northrop Grumman (NOC ) cut its earning per share guidance for 2005 by 6 cents to 12 cents, reflecting work delays and the negative impact of Hurricane Katrina. The technology services company sees lower-than-previosuly-guided revenue of $950 million, but expects its 2006 guidance will by largely unaffected by the hurricane.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.