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Actionable news in OA: ORBITAL ATK Inc,

Orbital ATK (OA) Stock Down, Restating Financials

NEW YORK (TheStreet) -- Shares of Orbital ATK (OA) were falling 18.45% to $72.37 on heavy trading volume mid-Wednesday morning after the company reported that accounting errors recently obscured up to $450 million in losses on a Pentagon arms contract, the Wall Street Journal reports.

Over 2.4 million shares of the company have traded so far today, higher than the 30-day daily average of 429,000 shares.

The issues were discovered after the company installed new enterprise systems. Most of the errors relate to a $2.3 billion contract to manufacture and supply...