Defense spending will get the largest cut due to the sequester budgets cuts. NOC will see near term declines in revenue and profits. Long-term, defense spending will get cut a lot as most Americans think defense spending is too high. NOC will see revenue declines for the next several years. NOC is due for a 10% haircut IMHO. The party is over for NOC stock investors. Sell now. Back to $50 coming.