The Ticker / Tel Aviv Shares End Down, Pressured by Wall Street

ReWalk shares plunge on second-quarter results; Mobileye profit soars, but stock slumps; El Al profit rises on lower fuel costs.

Reuters

El Al profit rises on lower fuel costs

El Al Airlines reported a 6% rise in quarterly profit yesterday as lower jet fuel costs helped offset a decline in passenger numbers. El Al said it earned a net profit of $17.3 million, up from $16.3 million a year earlier. Revenue fell 10.7% to $511 million as tourism contracted by 15%. On Wednesday, El Al said it would start talks with Boeing about buying and leasing up to 15 new 787-8 and 787-9 Dreamliner aircraft in the next five years in a deal valued at $800-$900 million. El Al’s market share at Ben-Gurion International Airport rose to 32.7% in the second quarter from 31.9% a year earlier but fell from 35.4% in the first quarter. El Al shares fell 2.2% to 1.40 shekels (37 cents). (Reuters)

Mobileye profit soars, but stock slumps

Mobileye, the maker of collision-prevention technology, beat Wall Street forecasts for second quarter earnings, but its high-flying share price was off sharply in early New York trading. The company said that net income, after discounting for one-time costs and stock-compensation costs, more than doubled from a year earlier to $23.7 million, or 10 cents a share, topping the average estimate of nine analysts surveyed by Zacks Investment Research for 8 cents. Mobileye posted a 57% increase in revenue to $52.8 million in the quarter. Mobileye shares were down 3.8% at $57.22 at mid-day local time in New York. (TheMarker Staff)

ReWalk shares plunge on second-quarter results

Shares in ReWalk plunged on yesterday as the maker of innovative exoskeletons that enable the wheelchair-bound to walk posted far lower revenues than forecast and a wider loss than a year ago. The company, which went public in New York last September, said its adjusted net loss for the second quarter was $5.2 million, compared with $3.7 million a year ago as it increased investment in sales and market development. Revenue for the three months rose 22% to $610,000 with 12 ReWalk systems delivered, up from 10 a year ago. But three analysts who cover the company had forecast revenues of $1.6 million for the quarter. ReWalk shares were down 13.7% at $10.03 late morning local time in New York. (Omri Zerachovitz)

Shares end down, pressured by Wall Street

Tel Aviv shares ended the day down, pressured by a lower Wall Street and Europe. The benchmark TA-25 index and the TA-100 both fell 0.4% by close to 1,716.65 and 1,483.05 points, respectively, as 1.2 billion shekels ($310 million) in shares changed hands. Alon Blue Square, parent of the ailing Mega supermarket chain, led decliners, shedding 5.3% to end at 3.134 shekels. The stock has fallen in nine of the last 10 sessions. Opko Health fell 4.7% to 58.54, but Tower had a second day of gains on a strong second-quarter earnings report, adding 4.1% to 54.30 shekels. In the fixed-income market, the government’s 10-year Shahar bond rose 0.2% to lower its yield to 2.43%. (Omri Zerachovitz)