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Raytheon Posts Strong Third Quarter; Ups Guidance

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By Calvin Biesecker Raytheon [RTN] yesterday reported strong third quarter sales and earnings driven by improved operational performance and lower pension expense and the company raised its earnings and sales guidance for the year. The company is bullish on its prospects for next year given the recent approval of the FY '09 defense budget, and is forecasting 6 to 7 percent top line growth and between 13 to 15 higher earnings from continuing operations. Commenting on what effect global economic…

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