Raytheon Co. beat Wall Street expectations on Thursday by announcing net income of $490 million for the third quarter, well ahead of analysts' forecast. Raytheon boosted its full-year earnings guidance and predicted another profitable year in 2010. Macquarie Securities analyst Rob Stallard said the third-quarter results show that Raytheon's "diversified defense portfolio seems to be holding up relatively better than expected despite the numerous (U.S. defense) program cancellations."

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