Teva Pharmaceutical, Ituran, Lapidoth: Israel Equity Preview
The following stocks may rise or fall in Israeli markets. Stock symbols are in parentheses after company names and prices are from the last close unless otherwise stated.
The TA-25 Index gained 0.1 percent to 1,205.25 in Tel Aviv.
Bee Contact Communication Ltd. (BCNT) : The provider of software solutions and mobile applications services is offering 36 million shares priced at 0.375 shekel each. Bee Contact was unchanged at 0.362 shekel.
Ituran Location and Control Ltd. (ITRN) : The maker of products used to locate stolen vehicles will record a charge of $16.8 million against 2010 results after an Israeli district court ordered the company to pay 78.7 million shekels ($23 million) in a case with Leonardo L.P. Ituran said it plans to appeal the rulling. Ituran fell 2 percent to 48.61 shekels.
Lapidoth-Heletz LP (LPHLL IT): The Israeli gas and oil explorer, which owns 25 percent of the rights to the Heletz 41 site, said drilling at the location was moved by six meters after disconnected pipes were discovered at the original site. The change will delay the work timetable four weeks and cost $600,000 of which the partnership’s share is $150,000. Lapidoth was unchanged at 0.142 shekel.
Teva Pharmaceutical Industries Ltd. (TEVA) : The U.S. Food and Drug Administration approved applications to produce generic versions of the antibiotic Levofloxacin. Teva, the world’s largest maker of generic drugs including a copy of Levofloxacin, gained 0.1 percent to 162.70 shekels.
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