Teva Hits Decade High as Wix Doubles and LivePerson Awaits Sale Approval
On Friday, Wall Street closed with modest gains of 0.4% to 1% in major indices, but overall weekly results showed declines. Several Israeli-related stocks stood out during the trading week. Wix's shares have more than doubled in the past two months, recovering from a low of just over $40 to close above $82 last week. Earlier this year, Wix repurchased shares worth $1.6 billion at $92 per share, a price it has yet to regain. The internet company, led by Avishai Abrahami, now has a market capitalization of about $3.4 billion. Wix, which enables users to create and manage websites, acquired Base44 in 2025, a company specializing in Vibe Coding. Despite suffering during the so-called "SaaSpocalypse" due to AI-related business model concerns, including a 20% workforce reduction and lowered annual forecasts, Wix reported a 15% growth in early August, surpassing expectations. Base44's annual recurring revenue (ARR) recently doubled from $100 million to $200 million within five months, with plans to increase marketing investments and improve profitability to 60% gross margin by mid-2026.
Teva Pharmaceutical Industries, managed by Richard Francis, reached a nearly ten-year high on Wednesday, with its stock price last seen at this level in early 2017. After slight declines in the following days, Teva closed the week with a market value of $43.5 billion. The company recently released positive reports, including an upward revision of its annual revenue forecast and Moody's upgrade of its debt rating to investment grade, following Fitch's earlier upgrade. Additionally, the FDA accepted Teva's application for accelerated review of Ecopipam, a drug for treating children with Tourette syndrome, with a decision expected by the end of Q1 2027. Among 13 analysts covering Teva, 12 recommend buying, with an average price target 12.3% above the current New York Stock Exchange price.
LivePerson, a US-based software company traded on Nasdaq and the Tel Aviv Stock Exchange, sought shareholder approval for its $43 million sale to SoundHound but fell short of the required majority despite 97% of voting shareholders supporting the deal. The company, led by John Sabino, announced the sale in April after its valuation plummeted 99% from its peak. LivePerson plans to delist from the Tel Aviv Stock Exchange by September 7 or earlier if the sale completes. The voting deadline has been extended to September 2, with the company urging shareholders to approve the transaction. Institutional advisory firms ISS and Glass Lewis have endorsed the deal. LivePerson was once part of the TA-35 index and peaked at a $4.7 billion valuation during the COVID-19 pandemic but continued to disappoint investors with losses and weak results despite increased demand for digital customer communication tools.
