Tuesday, February 4, 2014
SodaStream Drops Amid Sanctions Over Jewish Settlements
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.
SodaStream slumped 3.3 percent to $35.34 in New York, the lowest since Nov. 20, 2012. The stock plunged 26 percent on Jan. 13 after SodaStream reported worse-than-forecast preliminary earnings for 2013.
“John Kerry made comments about the economic damage of the sanctions and this scared investors a lot,” David Kaplan, an analyst at Barclays Plc who has a buy recommendation for SodaStream, said by phone from Tel Aviv. “On top of that, they missed earnings without clarifying why they had missed earnings and what they plan to do going forward. The stock will be down until they figure out a way to restore confidence.”
Posted by thankgodimatheist at 1:59 PM