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Teva, EZchip Semiconductor, Paz Oil: Israeli Equity Preview

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Sept. 13 (Bloomberg) -- The following stocks may rise or fall in Israeli markets. Stock symbols are in parentheses after the company names and prices are from the last close unless otherwise stated.

The TA-25 Index dropped 2.5 percent to 999.46 in Tel Aviv, the lowest level since November 2009.

EZchip Semiconductor Ltd. (EZCH IT): The shares of the maker of network processors rose the most in a month in New York on speculation Marvell Technology Group Ltd. will buy the company to stave off growing competition. EZchip gained 3.6 percent to 111 shekels.

Paz Oil Co. (PZOL IT): The manufacturer of petroleum-based products is in advanced talks to sell its solar unit to Shikun & Binui Ltd. (SKBN IT) for 55 million shekels, TheMarker financial newspaper reported, without saying where it obtained the information. A call to a Paz spokeswoman wasn’t immediately returned. Paz dropped 2.3 percent to 420.40 shekels. Shikun & Binui slipped 0.6 percent to 6.017 shekels.

Teva Pharmaceutical Industries Ltd. (TEVA IT): The world’s largest generic drugmaker received formal notification from the U.S. Food and Drug Administration that it has addressed the issues raised by the FDA regarding good manufacturing practice at Teva’s Jerusalem Oral Solid Dosage manufacturing facility. Teva fell 0.8 percent to 139.20 shekels.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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