Israeli Stocks: Alvarion, EZchip, Pluristem, Rami Levi, Teva
Israel’s TA-25 Index climbed for the first time in five days, gaining 0.5 percent to 1,106.52 at the 4:40 p.m. close in Tel Aviv. The gauge has lost 5.3 percent this week, after a 5.2 percent gain in October, the biggest monthly increase this year.
The following stocks rose or fell today. Symbols are in parentheses.
Alvarion Ltd. (ALVR) declined to the lowest in more than a week, dropping 3.7 percent to 3.824 shekels, or the equivalent of $1.04. The maker of telecommunication equipment posted a lower-than-estimated fourth-quarter revenue outlook and saw its U.S. shares drop 5.5 percent to $1.03 yesterday.
EZchip Semiconductor Ltd. (EZCH) fell to the lowest since Oct. 4, sliding 1.9 percent to 113.70 shekels. The maker of network processors was downgraded to “neutral” from “buy” at Chardan Capital Markets.
Pluristem Therapeutics Inc. (PSTI) surged the most since April 5, jumping 10 percent to 9.88 shekels. The developer of cell-therapy products said a clinical trial of its PLX-PAD cells to treat critical limb ischemia met all the protocol endpoints.
Rami Levi Chain Stores Hashikma Marketing 2006 Ltd. (RMLI) gained the most since Oct. 27, closing 2 percent higher at 121.70 shekels. Citigroup Inc. initiated the Israeli operator of discount supermarkets with a “buy” recommendation.
Teva Pharmaceutical Industries Ltd. (TEVA) rose the most in a month, gaining 5.2 percent to 149.10 shekels. The world’s largest generic drugmaker was raised to overweight from equal weight at Morgan Stanley. Separately, there was speculation that Teva may start selling a generic version of Pfizer’s Inc.’s anti-cholesterol pill Lipitor this quarter. Teva and Procter & Gamble Co. also announced today the creation of a new partnership and joint venture in consumer health care called PGT Healthcare.
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