Economic security/ The increase will be split between
national security and domestic needs
Symantec Corp. (SYMC) and
other cybersecurity companies stand to gain from President Barack Obama’s
push to increase computer network protection in the private sector and U.S.
agencies.
Obama called on lawmakers Tuesday in his State of the Union speech to pass legislation to combat
cyber-attacks and authorize military force against Islamic State terrorists.
These proposals might receive bipartisan support from the Republican-led
Congress.
Multinational banks including JPMorgan
Chase & Co. (JPM) are on
the losing end of Obama’s plans, although Republicans in Congress have rejected
a plan to impose a new tax on financial institutions with assets of more than
$50 billion. The Jan. 17 proposal was declared dead on arrival by Senate
Banking Committee Chairman Richard Shelby, an Alabama Republican.
Companies that provide cybersecurity or surveillance work to U.S.
agencies, such as No. 1 government contractor Lockheed
Martin Corp. (LMT) or
Northrop Grumman Corp., would be among the big winners in any increase in
government spending.
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