Aerospace

Raytheon Co. agreed to sell its flight simulation and training business to L-3 Communications for $160 million in cash as it moves to tighten its focus on core operations. The business being sold has more than 2,600 employees at facilities in Texas, Oklahoma, Florida and New York. On the NYSE, Raytheon Class B shares closed down 31 cents at $27.63, while L-3 rose 50 cents to close at $40.