Israeli shares are mixed on Wall Street, while American technology shares continue to publish dismal reports. Before trade AT&T (Nasdaq:T) reported a drop of over 51% in profits, and Hewlett Packard (Nasdaq:HWP) said it intends to let go 2% of its employees post-trade Friday. The Nasdaq is inching up 0.2%, cutting an earlier loss of 1%. Blue chips are posting a minute rise of 0.1%
Nice Systems (Nasdaq:NICE) is losing 8.8% to $22.8. Nice was volatile last week, trading at high volumes on speculation of its possible merger with the Comverse Infosys division of Comverse Technologies (Nasdaq:CMVT). Nice has gained 35% rise in the last week, despite its 9% drop on Friday.
Unlike Nice, Orckit Communications (Nasdaq:ORCT) is adding 20% to $3.8, completing a 52% rise since the company posted its Q4 results last Thursday. Though Orckit surpassed analysts' reports, Piper Jaffray still lowered its revenue forecast for the year 2001, in light of a weakening Access market. These fears fail to deter investors in the share, which is traded at prices 96% away from its peak price.
Other gainers are other wireless communication companies. Netro Corporation (Nasdaq:NTRO) is tacking on another 13.7%, taking it up to $8.7. The rise is surprising in light of the disappointing quarterly reports the company posted last week, and its predictions of losses in 2001. BreezeCOM (Nasdaq:BRZE) is hiking up 8.4% to $15.3, and Vyyo (Nasdaq:VYYO) is gaining 6.6% to $11.1.
Ceragon Network (Nasdaq:CRNT) is losing 8.2% to $16.8 in spite of positive results posted last Thursday. The company reports record revenues of $12.3 million, up 48% from the comparable quarter last year. M Systems Flash Disk Pioneers (Nasdaq:FLSH) is adding 5.7% to $12.5, while Precise Software Solutions (Nasdaq:PRSE) is shedding 7.2% to $25.6.