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Last update - 02:20 21/08/2008 Markets in Brief Teva Pharmaceutical Industries will be marketing its head and neck cancer drug Multikine in Israel and Turkey, according to a CEL-SCI Corp statement on Tuesday, the RTT Web site reports. The Israeli company will also help finance a late-stage clinical trial. Once Multikine is approved, CEL-SCI says confidently, it will make the drug and Teva will market it. The two companies will split revenues down the middle. (TheMarker) Tower Semiconductors has managed to reduce its second-quarter loss to $31.2 million. That may sound like a very heavy loss indeed, but then in the parallel quarter it lost $34.1 million. Revenues increased by almost 2% year over year to $58.1 million, said the chipmaker from Migdal Haemek. Meanwhile, Tower has a new arrangement reducing debt by a quarter-billion dollars, some $200 million to the banks and $50 million to shareholder Israel Corporation, which will furthermore be infusing another $20 million into the company. (TheMarker) Advertisement Heavy financing costs, which more than doubled to NIS 183 million, reduced the Eliezer Fishman company Industrial Buildings to a second-quarter loss of NIS 38 million. Revenues meanwhile fell by 46% to NIS 178 million and repricing assets on the downside didn't help. In the parallel quarter Industrial Buildings had netted NIS 190 million. In the second quarter, rental income increased from 38% of turnover to 81%, while income from selling apartments shrank to NIS 10.3 million, from NIS 186 million the year before. It sold four apartments during the quarter, compared with 111 in the corresponding period of 2007. (Rotem Sella) Elbit Systems said yesterday that subsidiary Cyclone Aviation Products won a $31 million contract from Boeing Co. to supply structural components for its F-15 fighter jets. The contract calls for the supply of external fuel tanks, pylons, horizontal stabilizers and gun access doors. Deliveries are scheduled from 2009 to 2011. (Reuters) Alrov Properties & Lodgings yesterday said it had closed the deal buying an asset in the museums district at the heart of Amsterdam, the Netherlands, for 50 million euros. The property has been rezoned for a hotel. Alrov is financing the deal from its own resources so far but says it will be borrowing to develop the site into a five-star hotel with shops. (TheMarker) Pangaea Real Estate did not do well in the second quarter of 2008. Revenues shrank by more than 90% against the parallel quarter to NIS 9.9 million, and it lost NIS 6.5 million, compared with netting NIS 56.1 million in the parallel quarter. The main reason for the shrunken income was simply that the company sold less property this year, earning just NIS 0.2 million from that in the second quarter of 2008, compared with NIS 31.4 million the year before. Also, in the second quarter, the company burned up NIS 17 million in cash, compared with NIS 9.5 million the year before. (Yael Pollak) Club 365 says its board of directors has agreed to a buyback of up to NIS 10 million worth of C356B1 bonds. Any bonds it repurchases, if it buys back any, will be delisted. (TheMarker) Billing and customer-care software company Mind CTI said it lost $481,000 on revenues of $5.1 million in the second quarter of 2008, compared with netting $1.2 million on revenues of $4.8 million the year before. Per share its quarterly loss came to 2 cents. It wrote down holdings in ARS (auction rate securities, a kind of derivative) by $0.9 million, but notes operating income of nearly a million dollars. Operating income was $315,000, or 6.2% of revenue (TheMarker) VeriFone Holdings shares soared more than 35% Tuesday after the maker of payment-processing gear provided a rosy outlook and cleaned up an accounting mess that had cast a pall over the company. Excluding expenses for restatement and other one-time things, VeriFone predicts 34 or 35 cents per share earnings for the quarter that just ended in July. Analysts had projected 28 cents per share on average, says Thomson Reuters. VeriFone expects quarterly revenue in the period to range from $256 million to $258 million, $7 million to $9 million above analyst estimates. (AP) In other VeriFone news, yesterday the telecoms firm named Clinton Knowles as its interim chief financial officer. He replaces Barry Zwarenstein, who agreed to step down after the San Jose-based company uncovered a series of financial misstatements that exaggerated its profits during the first three quarters of its fiscal 2007. (AP) Bookmark to del.icio.us   Tears of joy Shahar Zubari's bronze medal was Israel's first of the 2008 Beijing Olympics. 'Germ of corruption' Mahmoud Ahmadinejad repeats his prediction that Israel will be wiped off the map.

Read & React Ahmadinejad: Israel is a germ of corruption that will be removed Responses: 139 Israel warns nationals of Hezbollah kidnap threat abroad Responses: 37 Sheetrit: Israel must not attack Iran, except in line of defense Responses: 26 Meron Benvenisti: Israel's greatest fear is a one-state solution Responses: 72 More Headlines 00:40 U.S. to Syria: Do not meddle in Russia-Georgia conflict 19:04 Livni: Time is running out for peace talks with Palestinians 16:28 State orders West Bank fence rerouted in favor of Palestinians 02:26 ANALYSIS / Fence relocation is acknowledgment that route is politically motivated 02:46 Prosecution to seek immunity for Talansky in U.S. 02:45 Barak: I'm not worried about being removed before elections 01:47 Study: Babies in womb during Six-Day War more likely to have schizophrenia 00:10 IN PICTURES / Olympians display their body art 00:26 Israeli tennis star Shahar Peer leads master class for N.Y. children 21:32 Life of top television presenter threatened, possibly by 'psychic' interviewee 22:28 Jordan urges world to press Israel to halt E. Jerusalem excavations 02:09 Israeli terror victims sue Chinese bank for funding Hamas, Islamic Jihad 19:47 Israel removes West Bank roadblock outside Ramallah 01:08 Happy birthday, Mr. President! Peres marks his 85th with trip to Negev Previous Editions Select Day 21 aug 20 aug 19 aug 18 aug 17 aug 15 aug 14 aug 13 aug 12 aug 11 aug 10 aug 08 aug

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