Written by: Aaron Katsman | July 13, 2007
By Aaron Katsman
www.IsraelNewsletter.com
Emerging market guru Mark Mobius, continues to gain momentum in his bid to block the sale of Taro Pharmaceuticals(TAROF.pk) to the Indian drug company Sun Pharmaceutical Industries Ltd. In a new turn of events, Israeli financial institution, Analyst Investment Management, has joined with Brandes Partners as the latest defectors to join with Templeton’s to block the sale at the company’s general meeting on July 23rd. Another large Israeli institution, Harel, has yet to reveal which way they are leaning but with the momentum squarely in favor of blocking the move, it wouldn’t be a surprise if they voted against the sale.
As I posted when news of the acquisition hit, many investors are of the feeling that the company is selling out the shareholders by agreeing to such a low purchase price. Reports have surfaced today that Mobius penned a letter to shareholders saying that Templeton is prepared to consider providing Taro with the necessary funding, after conducting due diligence, to help the company avoid insolvency.
Stay tuned over the course of the next two weeks to see if investor activism can win out over poor management decisions.
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Disclosure: Author’s fund has no position of any stocks mentioned as of 7/12/07.
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Aaron Katsman is the lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
Written by: Aaron Katsman | July 12, 2007
By Aaron Katsman
www.IsraelNewsletter.com
G. Willi-Food, one of Israel’s fastest growing food companies, came out with guidance for Q2, ahead of their full quarterly report due out in August. The company announced that it expects to report an approximate 27% increase in revenues for the second quarter over Q2 ‘06 and an approximate 29% increase in revenue for the first half of 2007 over the prior year’s period.
Willi Food continues to execute their business model, and drive their expansion into the US kosher food market. As I have posted in the past, the kosher food market is very large and growing rapidly. Look for WILC to continue to profit from this trend for years to come.
Please see our Disclaimer HERE.
Disclosure: Author’s fund is long WILC as of 7/12/07.
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Aaron Katsman is the lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
Written by: Zack Miller | July 10, 2007
CNNMoney story on the linkup between China’s consumer electronics group, Hisense with Israeli, Metalink (MTLK) to deliver high-definition multimedia over wireless home networks. Looks like Hisense liked Metalink’s chipset to be part of their wireless transmission of multiple high-def TV streams.
Alon USA (ALJ) buys additional pipelines in California for $4.5MM. Read our previous coverage on Alon USA.
Globes out with a story on Comverse (CMVT.PK) CEO, Andre Dahan. Globes reports that Dahan has submitted a draft strategic plan to the company’s Board enabling him to examine all strategic options. Read what IsraelNewsletter’s Aaron Katsman had to say about Comverse’s take-out prospects.
Forbes reports on Orbotech (ORBK). The maker of testing equipment used to manufacture printed-circuit-boards and flat panel displays announced yesterday that it expects a deeper-than-expected downturn in its flat panel display business.
Written by: Aaron Katsman | July 9, 2007
By Aaron Katsman
IsraelNewsletter.com
Today’s purchase by Google (GOOG) of the privately held email security firm Postini for $625 million has sent the shares of rival Commtouch (CTCH) soaring up 8.5%. As I posted a month and a half ago, Commtouch is focused on email defense as well. By the year 2010, Gartner predicts that there will be 2.5 billion e-mailboxes. With over 180 billion messages per day, 85% of which are spam, Commtouch develops and provides proprietary anti-spam, Zero-Hour™ virus protection and Reputation Service solutions.
Roger Carter in his blog speculates concerning a new OEM deal Commtouch may be working on with Checkpoint (CHKP), wherein Commtouch’s technology could be deployed within Checkpoint’s new UTM productline. Aside from the possible Checkpoint deal, Commtouch is signing bigger and bigger OEM deals, and this has yet to be fully reflected in Commtouch’s sales pipeline and revenues.
Google’s acquisition proves that Commtouch is heading in the right direction. With Q1 revenues increasing over 63% from same period last year, and generating operating cash flow of $953 thousand during Q1 2007, I am eagerly awaiting their Q2 numbers as I expect both revenues and profitability to continue to grow strongly.
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Disclosure: Author is long both CTCH and CHKP as of 7/9/07. He has no position in any of the other company’s mentioned.
Aaron Katsman is the lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
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