The Israeli stock market has been reaching record highs as economic growth has been strong. Despite today's GDP report showing a sharp drop due to the summer war, the Tel-Aviv Stock Exchange rebounded finishing the day on a positive note.
Some Israeli companies listed on the NASDAQ are having quite the day:
Orckit Communications Ltd. (NASDAQ:ORCT) is a manufacturer of telecommunications networking equipment. ORCT shares are up more than 9% today. Rumors in Israeli newspapers mention the company gaining a new important client in Asia. Market cap: $147.7 million. 52-week range: $6.75-$31.22. Afternoon price: $11.36.
NICE Systems Ltd. (NASDAQ:NICE) shares are up more than 5.5%. NICE makes data recording products for financial institutions and other companies to monitor interactions with their customers. Market cap: $1.1 billion. 52-week range: $21.55-$32.80. Afternoon price: $32.45.
RADVision Ltd. (NASDAQ:RVSN) is up more than 2.5% after Cramer interviewed the company's CFO and recommended it a Buy. The company makes gateway devices and network bridges that enable voice or multimedia conferencing as well as software development kits for other communication products vendors. Market cap: $452 million. 52-week range: $13.86-$21.40. Afternoon price: $20.75.
Finally, Comverse Technologies, Inc. (NASDAQ:CMVT) makes communications systems and software for phone companies. CMVT shares are down 4% today. Rumors in Israeli newspapers talk about a possible management shakeup including the company's CEO. They also say that an earnings warning is imminent due to lower orders. The rumors, especially with regards to the CEO, have yet to be substantiated. Unfortunately, Comverse recent claim to fame was its former CEO escaping to Namibia trying to evade backdating options charges. Market cap: $4 billion. 52-week range: $17.04-$29.64. Afternoon price: $20.20.
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