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October 13, 2015 / 30 Tishri, 5776
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Posts Tagged ‘stock market’

Teva to Buy Allergan for $40 Billion

Monday, July 27th, 2015

The Israeli-based Teva Pharmaceutics company is going to shell out $40.5 billion to buy Allergan and withdraw a troubled offer for almost the same amount of money to purchase Mylan, according to financial media reports Monday morning.

Mylan has opposed the offer, and Teva’s buying Allergan would extricate it from a bitter battle for Mylan. The addition of Allergan also would strongly strengthen Teva’s generic drug position in the industry.

Teva’s share price leaped 10% in trading in Tel Aviv Monday morning after trading has been suspended pending a “significant” announcement by the company.

Teva’s attempt to buy Mylan turned out to be a hostile takeover attempt that has resulted in a nasty war of words between the two companies. Indications are that the stock will open 25% higher than last week’s close.

Mylan chairman Robert Coury has called Teva’s bid “not even close to qualifying as a proposal worth pursuing,” while Teva countered that the purchase would expose Mylan as a “dysfunctional culture” and “troubled company.”

2 Israelis Nabbed in US-Israel-Russia Securities Fraud Sting

Wednesday, July 22nd, 2015

The FBI linked with Israel Police organized crime unit 433 to uncover a securities fraud scheme that has spanned the globe via the Internet from the U.S. to Israel and all the way to Russia.

Authorities also discovered that the “pump and dump” scheme had a connection with last October’s massive cyber breach of JP Morgan Chase and other financial institutions.

“Pump and dump” is a stock fraud scheme in which promotional spam emails are sent to victims encouraging them to buy “hot” stocks. Perpetrators sell their own stocks and make millions on the deal.

Two Israelis — Gery Shalon, 31, and Ziv Orenstein, 40 — were charged in connection with the scheme. Joshua Samuel Aaron, 31, a U.S. national residing in Moscow and Tel Aviv, has not yet been arrested but is accused; he remains at large, officials said.

U.S. officials have requested extradition of the two Israelis and also permission to interrogate the pair following their arrest Tuesday at home. But the Israel state prosecutor planned to request permission to extend their remand in Israel at a hearing in Jerusalem District Court today (Wednesday, July 22) in order to allow time for Israel Police to question them as well.

According to the indictment, Shalon and Orenstein were also charged with running an unlicensed BitCoin exchange, Coin.Mx.

U.S. nationals Anthony Murgio and Yuri Lebedev were taken into custody in Florida, according to U.S. District Attorney for Southern New York Diego Rodriguez. Murgio and Lebedev were charged with “knowingly [exchanging] cash for people whom they believed may be engaging in criminal activity.”

At least some of the men met more than a decade ago while attending Florida State University, Bloomberg News reported.

There was no mention in the indictment of any connection with last October’s massive cyber theft of data from JP Morgan Chase, Fidelity Investments Ltd. and E*Trade Financial Corp. Some 83 million accounts were compromised in that breach, which affected accounts in 76 million households and seven million small businesses.

However, a source close to the case told Bloomberg News the FBI believes data stolen in the JP Morgan Chase hack may have been sought for promoting stocks through a massive spam campaign in the “pump and dump” scheme.

Murgio and Lebedev were also charged with using the bitcoins to purchase ransomware – a type of malware – and of using a fictitious organization (Collectible Club) to gain “beneficial control” over a small New Jersey-based credit union. The suspects allegedly used Collectible Club to “trick the major financial institutions through which they operated into believing their unlawful BitCoin exchange business was simply a members-only association of individuals who discussed, bought, and sold collectible items such as sports memorabilia.”

According to an affidavit submitted by FBI Special Agent Joey DeCapu, “the credit union normally handled the modest banking needs of a small group of primarily low-income residents and had little or no experience with the business of ACH processing.” Red flags were raised when the National Credit Union Association noticed the bank was processing more than $30 million a month in ACH transactions through the Credit Union account. NCUA put a stop to the processing and forced the removal of the new board members.

Shekel-Dollar Rate Hits Three-Year High at 4.01

Friday, March 6th, 2015

The dollar was trading at 4.01 shekels shortly before noon Friday, the highest rate since 2012.

The Bank of Israel reported Friday that it bought $1 billion worth of dollars last month in its currency war to make the shekel cheap and increase exports.

The shekel-rate sneaked across the 4.00 level last week but quickly receded.

The recent buying binge of dollars by the Bank of Israel has increased Israel’s currency reserves to a whopping $85 billion.

The shekel-dollar rate could rise as far as 4.10 or 4.20, according to some analysts, but a currency bubble is developing to the point that if and when the Americans stock market starts to tumble, investors in Israel will cash in and bring home shekels. The result would be a dive in the shekel-dollar rate, with the Bank of Israel being left with a huge pile of cheaper dollars that it can’t sell without driving the rate down even further.

BDS Agenda Falsely Links Boycott with Drop in SodaStream’s Stock

Tuesday, February 4th, 2014

Cause and effect conclusions always are a problem for ideological zanies, both right-wing and left-wing.

Today’s discourse on the stock market deals with the pro-Arab lefties. They call themselves pro-Israel, which is like a talking Trojan Horse uttering praise for the country where it was brought with enemy soldiers.

The truth is that mass media are just as guilty, burying a nasty and misleading leftist agenda under the term “objective reporting.”

Here is Monday’s headline from Mondoweiss, one of the nastiest and most misleading Jewish anti-Zionist sites around: “SodaStream Stock Sinks, and Bloomberg Cites ‘Sanctions Over Jewish Settlements.”

Indeed, that is what Bloomberg also wrote. Its headline on Monday read: “SodaStream Drops Amid Sanctions Over Jewish Settlements.”

Facts: The stock dropped 3.3 percent on Monday, the same day that the Standard and Poor 500 fell 2.28 percent and the NASDAQ index dropped sunk 2.26 percent. SanDisk sank 3.1 percent, and Microsoft outdid SodaStream and fell 3.59 percent.

Maybe Microsoft dropped because settlers in Judea and Samaria bought Office?

Bloomberg concluded, “SodaStream International Ltd., the Israeli maker of home soda machines with a factory in the West Bank, sank to the lowest since 2012 in New York amid growing criticism for businesses operating in a territory that Palestinians seek for an independent state.”

The writer, Elena Popina, did not explain how she knows that is the reason, but she immediately followed up on her conclusion by noting that U.S. Secretary of State John Kerry cautioned Israel about the boycott campaign and that Oxfam and Scarlett Johansson broke up their relationship because she is a goodwill ambassador for SodaStream.

Popina added, “The boycott debate comes after pro-Palestinian activists scored several successes in a campaign to blacklist businesses operating in the West Bank and east Jerusalem, land occupied by Israel since 1967 and claimed by Palestinians for a future state.”

After swallowing and regurgitating the media assumption that Israel “occupied” the land, which was previously occupied by Jordan, she reminded readers that a large Dutch fund announced in January it would not invest in Israeli banks because of their involvement in Judea and Samaria. Norway also said its own fund has reinstated a former boycott against two Israel firms active in parts of Jerusalem where Jews are deemed illegitimate and illegal.

It is an axiom that stock market analysts, like many psychologists, invent reasons for a past event, and for this shrinks charge $100 an hour or more.

Mondoweiss also does the same for free.

It wrote on Monday that last month “we reported SodaStream stocks had plunged that Monday morning after the announcement Johansson had signed on as the [SodaStream]corporation’s global ambassador. However, we noted at that time there was ‘no mainstream investment media mention regarding the growing boycott against the corporation.’”

Mondoweiss’ Annie Robbins gleefully wrote that the Bloomberg headline ”screamed” that the drop is because of its factory in the industrial area of Maaleh Adumim, where no one lived before Jews began to settle there 39 years ago.

Bloomberg came up with a cause and effect fallacy, and Mondoweiss ran with it off the field of reality.

“Finally, people are listening,” she wrote. “ And remember that John Kerry only made his offhand remark about ‘boycotts’ that hurt the stock, per the analyst quoted in Bloomberg, a day or so after SodaStream was the talk of the State House briefing. Methinks we’re having an impact. There’s been a massive shift in the discourse since we reported on Jan. 12 that Scarlett Johansson is the new face of apartheid.”

Now here is a little item, actually big item, from the same Bloomberg Business newspaper on January 14 of this year, under the headline “Even Star Johansson Can’t Help SodaStream as Stock Sinks 26%.”

Former Chief of Staff’s Oil Well a Colossal Flop

Monday, October 14th, 2013

Investors are screaming their heads off at Shemen Oil Co. and its CEO, former IDF Chief of Staff Gabi Ashkenazi, after the company announced Monday that its Yam 3 oil well, off the Ashdod coast, is dry, despite indications a month ago it would reap a bonanza.

A final report will not be known until the equipment is taken out of the bore hole, leaving a “small chance that there was a breakdown in the production tests in the upper sections of the borehole,” Shemen stated.

The company said in September that there were signs of high quality oil in the well, into which was poured $175 million of investors’ money.

The company’s stock plunged 90 percent on Monday, prompting several investors to demand a Tel Aviv Stock Exchange investigation into the possibility that the announcement in September was made in order to allow insiders to sell their holdings at a profit, at the expense of an unknowing public.

In any case, Ashkenazi is not a big loser. He received salary of more than $1.5 million the past two years as Shemen CEO, not including high-class travel and four-star hotels, all at the expense of the company.

Teva to Fire 5,000 Workers Worldwide

Thursday, October 10th, 2013

Israel’s giant generic Teva Pharmaceuticals firm will fire  by the end of next year 5,000 employees around the world, including hundreds in Israel, as one of the “steps to accelerate the reduction of costs and to optimize its structure.”

Most of the layoffs will be outside Israel, said Teva CEO Jeremy Levin, who moved to Israel form the United States last year to head the company.

The layoffs are expected to save the company $1.5 to $2 billion by the end of 2017, and part of the savings will be re-invested in the development of generic and specialty drugs.

Levin maintained  that the company is not suffering from financial problems. In New York, the company’s shares jumped 2 percent on news of the cutback in the workforce.

Teva’s stock was the darling of investors until five years ago, when the announcement of competitors’  generic drugs to replace Teva’s patented Copaxone drug, which treats  multiple sclerosis, drove the stock down by nearly 50 percent.

Report: PepsiCo Offered $2B for ‘Settlements’ Labeled SodaStream

Thursday, June 6th, 2013

With SodaStream, we could have saved 500 million bottles on Game Day alone. If you love the bubbles set them free.”

PepsiCo is negotiating with Israeli-based SodaStream to buy out the firm for $2 billion, according to the Israeli Calcalist business newspaper. SodaStream’s shares in Germany shot up nearly 20 percent after the report.

SodaStream, listed on NASDAQ, manufactures machines that make carbonated drinks from tap water and also produces flavors, carbon dioxide refills and re-usable bottles.

Officials at the two companies refused to comment on the report or were not available.

SodaStream has become a big hit in the United States, where the company “stole the show” with its commercials during the Super Bowl this year, drawing bitter complaints from carbonated beverage companies, which applied pressure to CBS for SodaStream to tone down its message  that buying carbonated beverages in plastic bottles is bad for the environment. Pepsi and Coke also did not like the idea of SodaStream making fun of their companies, and the original version of the commercial was canned but can be seen below

A buyout by PepsiCo, or possibly by Coca Cola if SodaStream wants to try for a larger purchase, could place the company’s facility in Maaleh Adumim, east of Jerusalem, in jeopardy.

Soda Stream is a favorite target of the Boycott Israel movement because of the plant’s location beyond the old borders of Israel. The rub, as Lori Lowenthal Marcus explained in an article Tuesday night, is that SodaStream’s American-born CEO Daniel Birnbaum promotes hiring and treating Palestinian Authority Arabs just like Jews.

Both Arab and Jews share the company dining hall in Maaleh Adumim, and there are facilities for both Muslim ands Jews to pray.

The Maaleh Adumim factory employs approximately 900 Arabs from Judea and Samaria. “Everyone works together – Palestinians, Russians, Jews,” a Palestinian employee named Rasim at the Maaleh Adumim site previously has been quoted as saying. “Everything is OK. I always work with Jews. Everyone works together, so of course we’re friends.”

The report of a possible buyout sent the shekel-dollar rate down approximately half a percentage point, to below 3.65 shekels to the dollar, because of the possible injection of $2 billion worth of shekels.

Printed from: http://www.jewishpress.com/news/report-pepsico-wants-to-pay-2-billion-to-buy-sodastream/2013/06/06/

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