"Globes" has learned that Bank Leumi plans to raise NIS 410 million tomorrow by issuing deferred promissory notes to institutional investors. Securities ratings company Maalot has issued a AAA rating for the notes.
Shore Area Construction Property and Holding Co reports that its wholly owned subsidiary Marlaz Communications has initiated contacts that could ultimately lead to the purchase of shares in Hungarian mobile phone operator Pannon.
Merrill Lynch on Check Point (Nasdaq: CHKP): We remain confident that Check Point will be one of the top infrastructure software names after the company works its way through near-term demand issues. We maintain our intermediate-term "Accumulate" rating in light of the macro-economic clouds overhanging Q2.
Calanit High Tech reports that anti-virus software developer Network Associates (NAI) has chosen Calanit to become Israeli distributor for NAI products. Israeli sales of NAI software for 2001 are estimated to reach $5 million.
Merrill Lynch has reiterated its "Buy" rating for Precise (Nasdaq: PRSE), and said that "Precise would rank at the top of the list of companies that we have confidence in achieving our Q2 2001 estimates and maintaining CY01 outlook."
Oscar Gruss has initiated coverage of M-Systems (Nasdaq: FLSH) with a "Hold" rating and target price of $7.50. Analyst Tsahi Rodnik predicts that the company's year 2001 revenue will be $45.5 million, less than half year 2000 revenue of $92.6 million.
Published by Israel's Business Arena on 24 June, 2001