Israeli tech stocks jumped today while Nasdaq finished 0.54% off at 2,626 points after another jittery day. Blue chips closed the session 0.8% off at 10,525 points.
Cable modems maker Terayon Communication Systems (Nasdaq:TERN) leaped 37.8%. Terayon has soared 53% in the last couple of days. The company yesterday announced the acquisition of American company TrueChat for $2.1 million in a cash and stock deal. The stock, which traded for $40 just two months ago, traded for as low as $4 just last Tuesday.
Terayon was joined by Orckit Communications (Nasdaq:ORCT), which has gained 56% in recent days and today gained 12% up to $3.5. The rises were due to reports on the company's intention to set up a subsidiary called Corrigent, which will focus unlike the last mile copper wire DSL systems and modems from Orckit on last mile fiber optics.
Mercury Interactive (Nasdaq:MERQ) has gained 3.9% to $81.5. This is in accordance with Mercury's bounce back from its negative trend since the beginning of the year. Today's rise makes it 34% gained by Mercury in the last four days.
Other stocks sailing north today were CommTouch (Nasdaq:CTCH), which soared 25% to $3.4, continuing its trend of the previous few days; Gilat Communication (Nasdaq:GICOF), which leaped 28.4% to $3, and BVR Technologies (Nasdaq:BVRT), which today leaped 21.2% to $3.5.
Today's big loser among Israeli stocks was NetManage (Nasdaq:NETM), down 20.8% to $1.9, after yesterday dramatically rising almost 50%. Tioga (Nasdaq:TIGA) also dropped 6.1% today to $1.9.