Looking for bit of irony? How about the fact that at the same time South African(SA) ports are boycotting Israel and refusing to unload cargo, the Israeli security firm, Nice Systems, has signed a deal to protect 5 more SA ports.
Globes reports: “The Histadrut (General Federation of Labor in Israel) intends to ask the International Transport Workers’ Federation to help bring about an end to the boycott imposed on Israeli ships by port workers in South Africa. “The union in South Africa is against anything connected to Israel, and in the past even objected to a cooperation agreement we signed with the Palestinian transport workers union,” explained Transport Wokers Union chairman Avi Edri.”
That in itself is pretty bizarre, since Israel is pretty much the only middle east country with such a developed labor union system, and their brothers in arms have sold them out!
News also broke today, “Transaction analysis firm NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) has extended its video surveillance technology deal to protect five additional South African port terminals. Transnet Port Terminals, the largest cargo terminal operator in South Africa, is expanding NICE’s IP video surveillance environment at Durban Car Terminal and Ngqura, for a total of five port terminals.”
So let me understand. We need to boycott Israel because of the recent war with Hamas, yet when it comes to protecting your own territory with video surveillance, Israel will do just fine. So let me understand. We need to boycott Israel because of the recent war with Hamas, yet when it comes to protecting your own territory with video surveillance, Israel will do just fine?
Investors in the Israeli company Nice Systems (NICE) can breathe a sigh of relief, as their earnings came in as expected. Some traders that we had spoken to were worried about Nice’s exposure to the financial sector and how the slowdown in spending would impact the numbers. Well it turns out that their security business is doing nicely.
The company came in with revenues of $155.3 million (a record) an increase of over 20% YOY. The company also showed an increase in margins and raised revenue numbers for the rest of ‘08.
According to PR Newswire, CEO Haim Shani said, “The demand for NICE’s solutions remains strong in our two market sectors, enterprise and security, across all regions. “We continue to execute well on our strategy of leading the market with our advanced applications solutions in the enterprise sector and of winning large-scale deals in the security sector.”
All in all, a pretty NICE report.
Disclosure: Author’s fund has a position in NICE. He has no position in any other stock mentioned as of 8/06/08.
Please see our Disclaimer HERE.
NEW! Introducing Israel Opportunity Investor, our monthly subscription-only newsletter. Stay ahead of the game and make smart decisions in Israel stocks. Go here to learn more.
Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is 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.
Aaron Katsman
IsraelNewsletter.com
Amazing how your financial situation can improve if you save $5,000 an hour by being faithful to your wife. Apparently, shamed former New York Governor Eliot Spitzer is flush with cash as he contemplates opening up a real estate fund focused on distressed property.
According to a report in the NY Sun: ” Late last month, the former governor of New York gathered a group of high-level Washington, D.C.-based labor union officials in a conference room at the headquarters of his father’s real estate business in Manhattan and pitched them his idea for starting such a fund.”
The report continues, “Distressed real estate funds — also known as “vulture” or, more euphemistically, “opportunity” funds — typically promise returns of more than 20% and are active in Florida, Nevada, and Southern California. They rely heavily on pension and university endowment investments. Mr. Spitzer is said to be envisioning projects valued between $100 million and $500 million.”
Instead of distressed property, Spitzer should focus on some distressed or beaten down Israeli stocks that trade in the US. After all, $5,000 can’t buy you an office building, but it can buy you 500 shares of a $10 stock. Just think, he could have a million dollar stock portfolio if he just remains faithful.
Here are 2 stocks that should draw the attention of Spitzer:
Tefron (TFR), a textile company that manufactures boutique-quality everyday seamless intimate apparel, active wear and swimwear sold throughout the world by such name-brand marketers as Victoria’s Secret, Nike (NKE), Target (TGT), and The Gap (GPS), has been crushed over the last year. The stock is down more than 70% over that time, on successive lackluster earnings reports, as well as a very weak US dollar. The company does see nice growth in their active-wear lines, so at $2.83 a share it maybe worth taking a look at. Eliot, 2 words: Lingerie and Victoria’s Secret.
Nice Systems (NICE), develops, markets, and supports integrated, scalable multimedia digital recording platforms, enhanced software applications, operational risk management software solutions, and related professional services is one of our favorites at IOI. With the stock down about 17% over the last year, investors looking for a strong growth Israeli tech play may want to potentially take a look. For Spitzer the stock must have special meaning. You see, Nice also works tracking money flows. Though not confirmed, many believe that’s a Nice product was used to track the unusual money flows that ultimately were used to break the Spitzer case. Eliot, why not try and profit from those who did you in?
Not that I have a bias towards either stock but I have a hunch that if Spitzer had to choose just one stock, I know which stock he would invest in.
According to the aforementioned article: “Mr. Spitzer works out of the Crown Building at 730 Fifth Ave., a 26-story structure his father and two other real estate investors bought in 1991 (in what turned out to be a highly lucrative investment). Playboy Enterprises leases commercial space in the building.”
Looks like Tefron it is!
Disclosure: Author’s fund has a position in Nice. He has no position in any other stock mentioned as of 6/12/08.
Please see our Disclaimer HERE.
NEW! Introducing Israel Opportunity Investor, our monthly subscription-only newsletter. Stay ahead of the game and make smart decisions in Israel stocks. Go here to learn more.
Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is 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.
Aaron Katsman
IsraelNewsletter.com
Federal Reserve chairman Ben Bernanke’s tough talk on the US Dollar helped support the greenback against the major global currencies, but it caused a minor rally against the Israeli shekel. As a reminder, the shekel has been one of the world’s strongest currencies over the last year, and its strength, while serving as a seal of approval on the state of the Israeli economy, has crushed exporters as well as many Israeli hi-tech’s that sell globally but keep their R&D local, due to the fact that their expense line has increased from the currency differential. (Continue »)
