Delek Fuel, Teva, Perrigo, Retalix: Israeli Equity Preview
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 gained 0.1 percent to 1,261.93 in Tel Aviv.
Delek The Israeli Fuel Corp. (DLKIS IT): Delek Petroleum Ltd. raised its offer to buy the remaining stake it doesn’t already own in the fuel provider to 101 shekels a share from 92 shekels a share. Delek Fuel rose 5.1 percent to 100.30 shekels.
Kamor Motors Ltd. (KMRS) : Kamor Ltd. (KMOR) agreed to sell its controlling stake in the importer and marketer of BMW vehicles to Delek Automotive Systems Ltd. (DLEA) in a deal that values Kamor Motors at 253 million shekels ($75 million). Kamor said its two owners with a combined 19.5 percent stake also agreed to sell their holdings. Kamor Motors slipped 0.3 percent to 15.45 shekels. Kamor gained 3.9 percent to 9.55 shekels when it last traded July 17. Delek Automotive fell 0.2 percent to 37.31 shekels.
Perrigo Co. (PRGO) : The maker of over-the-counter drugs completed the acquisition of Minneapolis, Minnesota-based Paddock Laboratories Inc. for approximately $540 million. Watson Pharmaceuticals Inc. agreed to buy a portfolio of products being divested in connection with the acquisition. Perrigo rose less than 0.1 percent at 318.60 shekels.
Retalix Ltd. (RTLX) : The maker of software used by retailers and supermarkets bought MTXEPS LLC for $19 million and as much as $6 million in additional payments over two years based on performance goals. Retalix slipped 0.5 percent 51.53 shekels.
Teva Pharmaceutical Industries Ltd. (TEVA) : The world’s largest maker of generic drugs reported second-quarter non-GAAP net income of $984 million compared with $981 million a year earlier, beating the average analyst estimate on Bloomberg of $969 million. Teva dropped 1.7 percent to 159.80 shekels.
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