Cellcom Israel, Elbit Systems U.S. Shares Immune From Israel Fighting

TEL AVIV (TheStreet) -- Fighting has resumed with the end of the latest ceasefire between Israel and Hamas in Gaza,  but the hostilities have had little effect on two Israeli stocks that also trade in the U.S., Cellcom Israel (CEL) and Elbit Systems (ESLT) .

Cellcom Israel, established in 1994, is Israel's biggest cellular provider. Its shares on the New York Stock Exchange, at $11.75, are down nearly 16% for the year to date but up 1.8% for the past 52 weeks. According to the company's Web site it has nearly 3.2 million subscribers and operates on HSPA 3.5 Gen network technology for nationwide coverage.

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Like other Israeli stocks, Cellcom's share price fell at the start of latest Gaza conflict that began in July. While the drop was marginal in dollars, it represents a 5.4% drop from the current price and a 16% decline from the high of $13.60 in June, just one month prior to the outbreak of war.

However, the stock recovered slowly during July and the early part of August, without any substantial declines. A relatively flat period of trading took place between July 21 and August 15 where the price was fixed in a tight range between $12.15 and $12.25 per share. The stock has a market cap of $1.20 billion and a 52-week range of $10.10 to $14.07.

Elbit Systems, meanwhile, gained from the war because it is a global defense electronics company involved in commercial aerospace, military aerospace, command control, land and naval systems, surveillance and reconnaissance.

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