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Solid operating performance combined with a pension benefit and a lower tax rate lifted Northrop Grumman [NOC] net income in the third quarter amid a slight increase in sales. Net income rose 9 percent to $1 billion, $7 earnings per share (EPS), from $937 million ($6.18 EPS) a year ago, whooping consensus estimates by 92 cents per share. The bottom-line results increased on higher segment operating income, the pension tailwind, and lower taxes, partially offset by a gain a year…
