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MagicJack Sinks to Seven-Month Low After Cutting Forecast

MagicJack VocalTec Ltd., whose main product is a device that connects to a computer or router to enable voice calls over the Internet, sank to the lowest since January after reducing its earnings estimates for the year.

Shares of MagicJack fell 5.8 percent to $12.29 in New York after earlier plunging as much as 15 percent. The Bloomberg Israel-US Equity Index slipped 0.7 percent.