Israeli stocks on Nasdaq are trading mixed with a definite shift downwards as the Nasdaq opened with a 2% dip, following Thursday's 1.4% decline.
Nice Systems (Nasdaq:NICE) is trading up 2.4% to $13.6. That's after the stock yesterday fell 29.4% to $13.1. The collapse followed news of the firm's dismissal of 220 employees and the resignation of its chairman Benny Levin.
Goldman Sachs downgraded the stock from its Recommended list to a Market Perform. The investment house estimates Nice's 2001 income will reach $123 million compared to previous estimates of $191 million. Earnings estimates have also been dramatically reduced for 2001, Nice's earnings per share have been downgraded from $1.1, to a loss estimate of $1.18.
Solomon Smith Barney remain Neutral about Nice, but lowered its price target to $15. The investment house cut its 2000 income estimates from $166 million to $154 million. Income estimates for 2001 were cut from $191 million to $145 million. Analysts are estimating EPA losses of $1.16, compared to previous per share earning estimates of 80 cents.
Israeli giant software companies, Check Point Software Technologies (Nasdaq:CHKP), and Mercury Interactive (Nasdaq:MERQ), have both fallen, as they have all week. Mercury has shed 4.2% to $72.25 and Check Point has fallen 5.5% to $131.75.