Northrop Grumman enters $1 billion accelerated buyback deal with Morgan Stanley

Northrop Grumman NOC, +0.08% has entered into a $1 billion accelerated share buyback agreement with Morgan Stanley & Co.The Falls Church, Va.-based defense contractor said it expected to receive about 1.8 million shares on Jan. 31, which represents about 80% of the buybacks under the repurchase deal based on the Jan. 29 closing price.The agreement will be completed under Northrop Grumman’s current share buyback authorization, which has about $3.6 billion remaining. Northrop Grumman said it expected the buyb ...