EZchip Drops Most in Two Years After Broadcom Debuts Processor
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EZchip Semiconductor Ltd. posted the largest decline in two years in New York on concern competitor Broadcom Corp.’s network processor will steal market share from the Israeli chipmaker.
Shares of the Yokneam, Israel-based company tumbled 9.3 percent to $39.28, the largest one-day slide since May 6, 2010. The drop swelled the U.S. stock’s discount to the company’s Tel Aviv shares to $4.48, the most on record.