Bloomberg News

Mellanox at Two-Week Low Following U.S. Stock Decline

December 13, 2011

(Updates with closing share price in second paragraph.)

Dec. 13 (Bloomberg) -- Mellanox Technologies Ltd., the adapter maker part-owned by Oracle Corp., fell to its lowest level in two weeks following a drop in its U.S.-traded shares.

The shares retreated 2.7 percent to 125.50 shekels, or the equivalent of $33.22, at the 4:30 p.m. close in Tel Aviv, the lowest level since Nov. 29.

The company’s U.S. traded shares yesterday declined the most in a month to $33.42. Intel Corp., the world’s largest chipmaker, cut its fourth-quarter sales guidance by $1 billion, driving technology stocks lower.

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--Editors: Shanthy Nambiar, Linda Shen

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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