Monday, August 07, 2006

Blog of the Week: 10Q Detective

Hezbollah Rockets and SEC 10-Q Filings: "Duck & Cover!"

Is cannon fire now being met by muted optimism?

Shares of many U.S. listed-Israeli companies, after initially slumping following Hezbollah's capture of two Israeli soldiers in a cross-border raid on July 12, have either rebounded or remained relatively flat in the last ten trading sessions. For example, the Common Stock prices of software developer AmDocs (DOX-$35.83), Internet security software maker Check Point Software Technologies (CHKP-$16.72), and generic drug maker Teva Pharmaceutical Industries (TEVA-$34.31) climbed/ (fell) from July 12 – July 21 and then climbed/ (fell) from July 24 – August 4, respectively: $1.95 / $(0.77), $(0.65) / $0.18, and $(1.86) / $4.55.

After falling nearly 10% during the first two days of the fighting, the Tel Aviv 100 index was up 3% this past week Our view is that investors believe that historical Israeli economic resilience during past conflicts will stand the test this time around, too.

Dun & Bradstreet (Israel) optimistically points out that...

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