U.S. arms makers boost earnings, shares surge By A

By Andrea Shalal-Esa WASHINGTON (Reuters) - U.S. weapons makers reported higher-than-expected profit and improved margins for the first quarter, even as revenue began to taper off after more than a decade of sharp growth in U.S. military spending. Boeing Co's defense division, Northrop Grumman Corp and General Dynamics Corp on Wednesday followed the lead of Pentagon supplier Lockheed Martin Corp in reporting higher earnings and lower revenue. Shares of the companies rose sharply on their financial results, with General Dynamics shares closing nearly 7 percent higher at $71. ...