Allot Surges on Ortiva Buy as Net Tops Estimates: Tel Aviv Mover
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Allot Communications Ltd. rallied to a record after the Israeli maker of high-speed networking equipment said it was buying Ortiva Wireless Inc. and as the company’s first-quarter profit and sales beat estimates.
Shares of the Hod Hasharon, Israel-based company advanced as much as 18 percent and closed 7.9 percent up at 99.05 shekels, the equivalent of $26.23, in Tel Aviv, the highest since December 2010 when the stock was listed in Israel. The TA-25 index gained 0.2 percent.