SodaStream Leads Gains as Elbit Drops: Israel Overnight
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SodaStream International Ltd. posted a record quarterly rally, leading Israeli companies’ gains in New York, while a three-day drop in Elbit Systems Ltd. left it at the biggest discount to the Tel Aviv stock since June 10.
Shares of SodaStream, a maker of home soda machines, surged 46 percent in the second quarter to $72.65 on sales prospects and speculation the company might be a takeover target, while the Bloomberg Israel-US Equity Index rose 0.9 percent. The measure added 1.1 percent last week as Allot Communications Ltd. and Mellanox Technologies Ltd. jumped. Elbit, an Israeli defense developer, slumped to $42.07.