Teva has climbed seven places to become the tenth largest company traded on Nasdaq.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has become the tenth largest company traded on Nasdaq in terms of market cap. Teva has climbed seven places since the start of 2008 with a current market cap of $32.47 billion.
At the end of last week Teva's market cap managed to record a historic figure - $32.47 billion placing it in tenth place on the Nasdaq 100 Index, which is led by Microsoft with a market cap of $202 billion, about double Cisco in second place with a market cap of $101.5 billion.
Teva's cap has succeeded in moving up seven places since the start of the year even though its market value has fallen by about 17%. Teva is considered a defensive share and this has enabled it to overtake such companies as Canada's Research in Motion Ltd. (Nasdaq: RIMM) and even computer manufacturer Dell Inc. (Nasdaq: DELL).
Published by Globes [online], Israel business news - www.globes-online.com - on October 26, 2008
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