Bloomberg News

Israeli Stocks: Alvarion, Cellcom, Teva, Nice, Brainsway

October 26, 2011

Oct. 26 (Bloomberg) -- Israel’s TA-25 Index increased for the first time in three days, climbing 0.5 percent to 1,140.48 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.32 billion shekels ($361 million) of shares and convertible securities, according to bourse data.

The following stocks rose or fell today. Symbols are in parentheses.

Alvarion Ltd. (ALVR IT) gained the most in three months, jumping 8.9 percent to 3.937 shekels. The maker of wireless telecommunications equipment said the Mexican State of Jalisco chose the company’s equipment for an educational network.

Cellcom Israel Ltd. (CEL IT) fell the most in almost three weeks, declining 1.9 percent to 78.49 shekels. The country’s largest mobile-phone company said Chief Executive Officer Amos Shapira will step down on Dec. 31 to be replaced by Nir Sztern.

Brainsway Ltd. (BRIN IT) rose to the highest since Sept. 4, gaining 6.9 percent to 20.44 shekels. The maker of devices to treat neurological disorders released the final result of a multichannel-stimulator test and said it received an approval needed to license the device in the U.S. and Canada.

Nice Systems Ltd. (NICE IT) closed at the highest in six months, rising 1.9 percent to 129.70 shekels. The maker of digital surveillance and monitoring systems announced the closing of its acquisition of Fizzback for about $80 million.

Teva Pharmaceutical Industries Ltd. (TEVA IT), the world’s largest generic drugmaker, dropped for the third time this week, retreating 1.1 percent to 143.50. The shares of the company, whose bestseller is an injectable multiple sclerosis drug, plunged as much as 5.8 percent after a study showed Biogen Idec Inc.’s experimental BG-12 pill reduced the risk of patients having relapses of multiple sclerosis.

--Editors: Claudia Maedler, Peter Branton

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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