Defense companies are coming in strong this earnings season. Profits are up, and margins have improved, and cost cutting is helping the bottom line. Boeing's first quarter earnings jumped nearly 20 percent- despite the grounding of its 787 Dreamliner. Northrop Grumman earnings and sales beat forecasts. And General Dynamics far exceeded earnings expectations. But all three reported disappointing revenue- as their military customers deal with looming budget cuts. Neal Dihora of Morningstar:moreless
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