The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
Investors should buy defense stocks due to the prospect of more global defense spending in the coming years, according to Credit Suisse.
"We believe that defense stocks embody a large number of our favorite themes and offer some hedge to the U.S. presidential election and increasing global political tensions," analyst Andrew Garthwaite wrote in a note to clients Monday. "We believe investors should be overweight defense stocks."
Garthwaite cited how European Union and U.S. defense spending is 18 percent and 10 percent below its 20-year historical norm as a percentage of GDP. Moreover, U.S. defense spending is near a 35-year low and many major European countries do not meet NATO's 2 percent of GDP defense spending requirement, according to the analyst.
In addition, the defense sector should do well if Donald Trump wins the U.S. presidency, he said. The Republican nominee said he would increase defense spending by 15 percent and would pressure NATO countries to spend more to meet their commitments.
"In our view, the defense sector faces only limited disruption from either Chinese competition or new technologies as the sector is heavily regulated and as a matter of national security protected from foreign competition, which creates large barriers to entry," Garthwaite wrote.
Here are three Credit Suisse outperform-rated defense stock ideas.