Teva Pharmaceuticals (Nasdaq:TEVA) is up 1.3% on the session's highest turnover as Tel Aviv stocks dip from opening to negative territory at Tuesday mid-morning.
Yesterday Geneva, the generic division of Novartis, received FDA permission to market the generic version of Augmentin, which is made by Glaxo SmithKline. Leader DS analyst Ori Hershkovitz sees generic Augmentin being a key moneymaker for Teva, and believe Teva will receive the FDA nod for its version within days. He sees Augmentin bringing Teva revenue of $150 million dollar a year, translating into $30 million to $40 million profits.
Bank Discount is still gaining ground. The banks stock has gone only one way, north, since talks started to sell its New York unit. As more and more contenders join the race, assessments about the asking price for Discount New York continue to climb and so does the parent company on the TASE. Today it's up 0.8%. Contenders now include not only Israel's Hapoalim and Leumi banks, and the Safra banking brethren, but also the former managers of Commercial Bank and businessman Leon Recanati, who controls IDB Holding Corporation (though he has all but closed the deal to sell control over IDB Holding Corporation to Ganden Holdings).
Bank Leumi is sagging by 0.3% and Bank Hapoalim is rising by 0.1%.
Matav Cable Systems (Nasdaq:MATV) also continues to rise. Today it is up 0.5% on positive sentiment about progress toward its merger with Tevel and Golden Channels, to create a single powerful cable TV company.
Supersol (NYSE:SAE) is sinking by 1.5% after Bank Mizrahi reduced it from Buy to Hold.