Israel Aircraft Industries will upgrade and convert approximately 20 Boeing 757B's to cargo planes for delivery company DHL, for $100 million.
Israel is ranked 11th in a Merill Lynch Q2 global stock market performance survey, compared to having been ranked 37 in the previous survey. TASE performance beat US (S&P), German, Hong Kong, and UK bourses.
Bank Hapoalim recommends: Bezeq reiterated at "Hold, Medium Risk", target price raised from NIS 6.2 to NIS 7.1; Discount Investments reiterated at "Buy, High Risk", target price lowered from NIS 153.7 to NIS 141.7; Elron reiterated at "Buy, High Risk", target price maintained at NIS 72.7/$17.4.
Israeli start-up Civcom completed a $10.5 million second fundraising round. The round was led by US VC fund Mercator Broadband, and additional investors include Concord Ventures, Formula Ventures, Israeli firm Aurum-SBC Investments and US-based Omninent Capital. Civcom develops communications chips for optical router switches.
Nova Measuring Instruments, Ltd. (Nasdaq:NVMI) profit warning: Nova's revenues for Q2 will be significantly below previous estimates, losses will be larger than expected, due to "unprecedented sharp reduction in capital spending in semiconductor industry". Nova will cut its workforce by 15%, cut salaries and set a a one day per week mandatory shut-down until end of August.
BreezeCOM, Floware profit warnings: BreezeCOM (Nasdaq: BRZE) anticipates Q2 revenues of $22.5 million, 6% below Q1 2001. Floware Wireless Systems (Nasdaq: FLRE) expects Q2 revenues of $17.5 million, 14% below Q1 2001. The two companies plan to merge in Q3.
Salomon Smith Barney (SSB) has reiterated its "Buy, High Risk" rating for Radvision but lowered its 2001 EPS forecast from $0.12 to $0.03 and lowered its 2002 EPS forecast from $0.38 to $0.36. SSB believe that Radvision did not burn much cash in Q2 and should finish the quarter with over $90 million.
M-Systems (Nasdaq: FLSH) has announced that US based mobile data solutions developer Wireless Links has selected DiskOnChip as the local data storage solution for its Acknowledger CE mobile data terminal product line. No value was disclosed.
GOU Lite, an Israeli company specializing in optical laser technology today announced a name change to OTM Technologies
Published by Israel's Business Arena on 3 July, 2001