Israel Newsletter News Roundup 10/7/2007
Written by: Zack Miller | October 7, 2007
Gilat Satellite Networks (GILT) announced that its subsidiary, Spacenet, is working with Verizon (VZ) Business to deploy a custom satellite network for the US Postal Service.
…and here come the lawsuits against BigBand (BBND). BigBand had a disastrous quarter and the stock plunged over 30% in one trading day. The provider of the de facto network architecture for digital simulcast, an application that facilitates the insertion of advertising and the transmission of video in a digital format while still providing service to analog customers, blamed a variety of factors on its revenue shortfall, including increased software customization and integration, a slowdown in Telco-TV revenues, and softness in its data business. Read the press release here. IsraelNewsletter has also written recently about what we thought was going on at BigBand.
Teva (TEVA) gets FDA approval for generic Valtrex, a version of GlaxoSmitKline PLC’s herpes drug. Valtrex sold about $1.3 billion last year.
Lots of interesting stuff going on at IsraelNewsletter pick, G-Willi Foods (WILC). Read what analyst Aaron Katsman has been saying on recent M&A activity. Look for IsraelNewsletter to clear up some of the confusion surrounding the deal later this week.
Alon USA Energy (ALJ) reported minor snags at its 70k barrel/day Big Spring, TX refinery, but with no effect on production.
After gaining more than 200% in the past six months and 500% in the last 12, Ceragon Networks (CRNT) is downgraded by Collins Stewart. Read the Globes story.
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