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
, 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.