Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Caesarstone Falls From Record as Starts Worse Than Forecast

Caesarstone Sdot Yam Ltd., the Israeli producer of quartz-based countertops, declined from a record after U.S. housing starts dropped more than forecast and the nation’s largest luxury homebuilder’s earnings missed analyst estimates.

Caesarstone slumped 9.4 percent to $22.61 in New York, the biggest decline since the company’s March debut. Shares reached a record $24.95 yesterday and have rallied 106 percent since March 21, the second-most successful foreign IPO in the U.S. over the past 12 months.

Total housing starts in the U.S., Caesarstone’s second-biggest market, dropped to an 890,000 rate, lower than the 920,000 median estimate from 85 analysts surveyed by Bloomberg. Homebuilder Toll Brothers Inc. posted net income of 3 cents a share for the quarter ended Jan. 31, less than the 10-cent average estimate of 16 analysts surveyed by Bloomberg.

“Many building products companies and U.S. housing-related companies are down today because the Census Bureau released new home construction data that was below analysts’ consensus,” David Kirshenbaum, a New York-based analyst at Baron Capital, the fourth-largest holder of Caesarstone with about 1.2 million shares, said by e-mail.

U.S. revenue for Caesarstone grew 45 percent in 2012 to $86.8 million, making it the company’s fastest growing region and second-biggest market after Australia, Chief Executive Officer Yosef Shiran said on a conference call on Feb. 6.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.