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Tuesday, September 23, 2008
Fitch Upgrades Raytheon On Performance, Debt Reduction
Wallace Witkowski
MarketWatch Pulse
SAN FRANCISCO -- Fitch Ratings said Tuesday it upgraded Raytheon Co. on its performance and debt retirement progress. Fitch raised the company's long-term issuer default, senior unsecured debt, and bank facilities ratings to A- from BBB+. The outlook is stable. "The rating upgrades are based on RTN's conservative financial policies, financial flexibility, strong credit metrics, and significant liquidity," Fitch said in a statement. "Debt retirement in 2007 materially strengthened RTN's financial profile, and Fitch expects RTN will maintain its strong financial position."
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A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.
