Wall Street sees security winning out over privacy after failed bombing

Wall Street thinks security will win the fight against privacy after last week’s failed bombing attempt.

Shares in several companies that develop security products for airports jumped on Monday as investors anticipated there will be new orders for their equipment, according to The Wall Street Journal.

American Science & Engineering Inc. was up 7.3 percent, Analogic Corp. was up 4.4 percent and L-3 Communications Holdings Inc. was up 1.6 percent.

The failed attempt to bomb a Northwest flight from Amsterdam to Detroit is expected to give momentum to those arguing for high-tech scanning systems that might have detected the explosives the alleged Detroit bomber hid in his underwear.

In June, the House approved an amendment sponsored by Rep. Jason Chaffetz (R-Utah) that would prohibit the Transportation Security Administration from using Whole Body-Imaging machines for primary screening at airports. The amendment was approved in a 310-118 vote, with 191 Democrats and 119 Republicans voting for it. (Both House Majority Leader Steny Hoyer, D-Md., and Minority Leader John Boehner, R-Ohio voted aye.)