Perion Shares in Tel Aviv Follow U.S. Down on Outlook
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Perion Network Ltd., the software maker whose New York shares trade at almost half of its historical valuation, fell to the lowest in four months in Tel Aviv as its lower-than-estimated sales forecast outweighed a search partnership with Yahoo! Inc.
Shares of the Tel Aviv-based company declined 2.3 percent to 37.32 shekels, the lowest since April 8, at 10:31 a.m. in Israel. The TA-25 Index rose 0.3 percent. The U.S.-traded shares sank 14 percent yesterday, the biggest retreat since March 2010.