Skip to main content

Israeli stocks ended down on moderately low volume as blue chips reacted to employment statistics and Nasdaq lost 4.4%. Check Point Software Technologies (Nasdaq:CKPT) ended 9% lower to $142.1 a share. But at a market cap of $22 billion, it's still the biggest Israeli company on Wall Street.

Another active stock today was Comverse Technology (Nasdaq:CMVT). It too traded significantly lower ending down 5.6% to $106.9. Its weakness may have something to do with an announcement by its competitor Openwave (Nasdaq:OPWV) that it will collaborate with Israeli startup CTI


in unified messaging. The event does not appear to be significant for Comverse. But it does hamper Comverse's plan to buy CTI


Scroll to Continue

TheStreet Recommends

, which may have disappointed investors.

Nexus Telocation Systems (Nasdaq:NXUS) dropped 13% to $1.2, far far short of its $13 52-week high in last March. The company provided no explanation to the sudden drop.

BreezeCOM (Nasdaq:BRZE) traded down 11.4% to $15 a share. Volume was light. Piper Jaffray analysts assessed that that the fourth quarter was a particularly positive one for the company, but that it will suffer from the slowing United States economy.

After a warning and further guidance from the company, analysts lowered earnings estimates for BreezeCOM from $34.3 for Q1 2001 to $32.4. At Solomon Smith Barney analysts left income estimates for 2001 at $150 million, but reduced earnings estimates by 1 cent to 47 cents a share.

BackWeb Technologies (Nasdaq:BWEB) closed down 12.9% to $3.8.