Lazard Capital Markets' Michael Lewis issues a warning shot over defense industry stocks, as he...

|By:, SA News Editor

Lazard Capital Markets' Michael Lewis issues a warning shot over defense industry stocks, as he notes that the strategy of firms such as Northrop Grumman (NOC) and Booz Allen Hamilton (BZH) of growing profits by cutting costs could catch up to them this year. "All the low-hanging fruit has already been picked. There’s not much fat in the infrastructure."