Markets in Brief
Matrix downgraded as big banks, Cellcom economize
Clal Finance downgraded technology company Matrix from Outperform to Underperform yesterday, citing efficiency programs by Cellcom and Israel's two biggest banks, Hapoalim and Leumi. The flavor of the day is cutbacks, and pressure on companies like Matrix is clear, writes analyst Tzahi Avraham. He notes that Clal Finance had smiled upon Matrix for five years, but now it's changing direction and lowering its 2012 forecasts for the company to roughly unchanged from 2011. Avraham also cut his 12-month price target for the stock to NIS 18.70 from NIS 23. Matrix opened yesterday at NIS 19. (Vadim Sviderski)
Gamida Cell, Teva enroll 100 patients for trial
Gamida Cell announced yesterday that the Gamida Cell-Teva joint venture (50:50 ) has finished enrolling 100 patients for its international, multicenter, Phase III clinical trial of StemEx. That's the stem-cell therapy the company is developing as an alternative for teenagers and adults with blood cancers who can't find a suitable bone-marrow donor. StemEx is based on expanding lines of stem cells from umbilical-cord blood, which are transplanted into the patient with non-manipulated cells from the same origin. CEO Yael Margolin said the company hopes to complete the trial this year. (TheMarker)
If you still don't think that helping people figure it out is a winning strategy, take a look at Ace Hardware, which competes in EVERY department EVERY day with the big-box stores. Ace's “Helpful Place” message has been an absolute winner and the
Just ask Gina Schaefer, who owns seven Ace Hardware stores in and around DC, including the very indie-feeling Logan Hardware on P Street NW. She opened that location in 2003 by convincing the national chain that a hardware store would thrive in what
