Israeli Stocks: Allot, Given, Enlight, Teva, Magic, Walla, Bezeq
Israel’s TA-25 Index declined for a fourth day, slipping 0.1 percent to 1,100.68 at the 4:30 p.m. close in Tel Aviv. The gauge has lost 2.9 percent over the past two days after a 5.2 percent gain in October, the biggest monthly increase this year. Investors traded about 1.32 billion shekels ($360 million) of shares and convertible securities, according to bourse data.
The following stocks rose or fell today. Symbols are in parentheses.
Allot Communications Ltd. (ALLT) surged to the highest level since July 28, climbing 6.6 percent to 53.40 shekels. The shares followed an advance in the U.S.-traded securities yesterday after Israel’s biggest maker of high-speed networking equipment said third-quarter profit almost tripled.
Given Imaging Ltd. (GIVN) increased the most since Sept. 14, jumping 6 percent to 58.72 shekels. The maker of a pill- sized camera to diagnose digestive ailments said third-quarter profit soared to $3.8 million from $1 million a year earlier.
Enlight Renewable Energy Ltd. (ENLT) climbed the most since Aug. 16, gaining 10 percent to 0.329 shekel. The developer of photovoltaic systems said a possible solar-price cut won’t affect debt payment.
EZchip Semiconductor Ltd. (EZCH IT) slumped 11 percent, the most since Feb. 10, to 115.90 shekels. The maker of network processors said fourth-quarter revenue will be as much as 30 percent below the $18.7 million reported for the third quarter.
Magic Software Enterprises Ltd. (MGIC) soared to the highest level in three months, surging 11 percent to 19.74 shekels. The software developer said third-quarter profit climbed 60 percent to $4 million.
Teva Pharmaceutical Industries Ltd. (TEVA) dropped the most since Oct. 4, retreating 3 percent to 141.70 shekels. The world’s largest generic drugmaker cut its sales and profit forecast for the year after fewer new U.S. generic-drug introductions led to the first decline in quarterly earnings in four years.
Walla! Communications Ltd. (WALA IT) jumped 6.9 percent to 3.351 shekels, the highest since May 23. Calcalist reported that Bezeq Israeli Telecommunication Corp. (BEZQ IT) is planning to buy the rest of Walla’s shares outstanding. Bezeq evaluates its stake in the company from time-to-time and no decision has been taken, Walla said in a statement to the Tel Aviv Stock Exchange. Bezeq, which owns 71.55 percent of Walla according to Bloomberg data, gained 0.6 percent to 7.452 shekel.
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