Partner Communications slides before Q2 results

Israeli telco Partner Communications (PTNR -7.5%) is sliding after gapping down for the second day in a row on no specific news. It is set to announce Q2 results on Aug. 28.

Likely to blame? Rival Cellcom Israel's Q2 results missed on revenues by an ell due to price wars caused by new market entrants. The two stocks have moved in near-perfect tandem since 2008.

The plunge in Israeli stocks following U.S. escalation over Syria isn't helping either.

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