Cybersecurity Stocks With Ties to Israel Are Under Pressure as War Unfolds

Most U.S.-listed security-software stocks with notable operations in Israel dipped into the red as the country battles the Palestinian militant group Hamas.

The BlueStar Israel Technology exchange-traded fund , ITEQ which tracks Israeli cybersecurity companies and other tech names, was down 3.4% on Monday. Israeli tech companies “will be losing many of their key employees to the war effort, but these same companies have demonstrated extraordinary resilience in past conflicts,” wrote Steven Schoenfeld, CEO of MarketVector Indexes.

Identity-security company CyberArk Software also based in Israel, has 71% of its so-called long-term assets there. The category can include fixed assets such as equipment, as well as intangible assets such as copyrights and software. Its stock fell 5.3%. Many companies Palo Alto Networks has acquired are based in Israel, including Cider and Cyber Secdo, but just 12% of the parent company’s long- lived assets are there. The stock was down 0.3% at open but had recovered for a gain of 2% by mid morning.

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

These cybersecurity stocks could be most hurt by Hamas's attack on IsraelCheck Point Software’s stock falls as J.P. Morgan notes more than half its office space is in Israel
Herkunft: MarketWatch - 🏆 3. / 97 Weiterlesen »

Airline stocks fall as the attack of Israel by Hamas ‘may impact travel’Tomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
Herkunft: MarketWatch - 🏆 3. / 97 Weiterlesen »

Israel-Hamas Conflict Jolts Defense StocksHamas militants launched an assault on Israel on Saturday. Israel declared war on Hamas and launched retaliatory strikes.
Herkunft: MarketWatch - 🏆 3. / 97 Weiterlesen »