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Raytheon, other defense contractors slip

Raytheon has won a $243 million contract for 89 of its Standard Missile 6. Above, a 2010 Navy test of the missile.

Reuters

Raytheon has won a $243 million contract for 89 of its Standard Missile 6. Above, a 2010 Navy test of the missile.

On Tuesday, Wall Street shrugged off the first day of the partial US government shutdown. Investors grew more nervous on Wednesday, and defense companies, which rely on Pentagon contracts for much of their revenue, led declines for industrial companies. Raytheon fell 2.2 percent Wednesday, and Lockheed Martin Corp. dropped 1.9 percent. On Thursday, they fell again, Waltham-based Raytheon Co. by 1.5 percent and Lockheed, of Bethesda, Md., by 1.8 percent.

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