Are we having fun yet?  Tough trading out there but Israeli companies continue to make news.

Answers (ANSW) getting nailed after predicting further widening losses next quarter.

Orckit (ORCT) wins $12 million in damages from Conexant (CNXT) covering damages incurred in the period from 2001 through 2003 from a supplier of semiconductor chips that was acquired by Conexant. The semiconductor chips were used in Orckit’s legacy DSL products.

Remember Backweb Technologies (BWEBF.OB)? They reported yesterday.

Internet Gold (IGLD) reports earnings.

The Street liked Cellcom’s (CEL) earnings report. See our recent coverage of Cellcom and the issues they face given Israel’s 120% cellular penetration.

Zoran (ZRAN), the maker of software and chips for digital media products, rose off an article in Barron’s. In the article, a Jefferies & Co. analyst said the stock may jump 50% in the coming year.

Still on the lam, Comverse’s (CMVT.PK) founder and previous CEO, Kobi Alexander still eludes extradition from Namibia to the U.S. for his connection in an alleged options backdating scheme. See why IsraelNewsletter may not agree with all the politicking going on but we do like the stock. Click here to read our previous coverage on Comverse.

Ness Technologies (NSTC) buying Italian software house, Selesta SpA.

Ormat Technologies (ORA) picks up an RBC upgrade to outperform.

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