Stock Alert: Navistar Hits New 52-week High As Traton Sweetens Bid

National Institute Of Health Announces $129.3 Mln In Support Of COVID-19 Testing Technologies

The National Institutes of Health has awarded a total of $129.3 million in funding to support scaling-up coronavirus testing and manufacturing new testing technologies.

The U.S. health agency said it is awarding contracts to nine companies for technologies that include portable point-of-care tests for immediate results and high-throughput laboratories that can return results within 24 hours.

“Diagnostic testing is a critical component of the nation’s strategy to meet the challenge of the COVID-19 pandemic,” said NIH Director Francis S. Collins, M.D., Ph.D. “Just started at the end of April, the RADx initiative has moved swiftly to speed innovation and later-stage development in the biomedical technology sector. The results thus far have been outstanding.”

The nine companies that received a cut in the $129 million funding included, MatMaCorp, Maxim Biomedical Inc, MicroGEM International, Aegis Sciences, Broad Institute, Ceres Nanoscience Inc, Illumina, PathGroup, and Sonic Healthcare USA.

NIH said MatMaCorp, Maxim Biomedical Inc and MicroGEM International will offer point-of-care tests that produce immediate results. While, the remaining six will offer lab-based tests.

In July, NIH made a similar contribution of $248.7 million to seven companies.

US STOCKS SNAPSHOT-S&P 500, Dow turn lower as Apple, Microsoft drop

Sept 10 (Reuters) – The S&P 500 and Dow gave up early gains in volatile trading on Thursday as heavyweights Apple and Microsoft slipped, with investors remaining cautious about a choppy economic rebound from the pandemic-led recession.

At 11:03 a.m. ET, the Dow Jones Industrial Average was down 73.96 points, or 0.26%, at 27,866.51, the S&P 500 was down 7.68 points, or 0.23%, at 3,391.28. The Nasdaq Composite was up 9.59 points, or 0.09%, at 11,151.16. (Reporting by Medha Singh in Bengaluru; Editing by Sriraj Kalluvila)

Facebook Not To Accept New Political Ads In The Week Before The Election

Social media giant Facebook Inc. (FB) has announced that it will not accept any new political ads in the week before the election.

CEO and founder Mark Zuckerberg announced additional steps the company is taking to secure the integrity of the US elections.

Facebook will not accept new political ads in the week before the election. It will remove posts that claim that people will get COVID-19 if they take part in voting. Facebook will also attach a link to authoritative information about the coronavirus to posts that might use COVID-19 to discourage voting.

The company said it will attach an informational label to content that seeks to delegitimize the outcome of the election or discuss the legitimacy of voting methods, for example, by claiming that lawful methods of voting will lead to fraud.

Facebook also said if any candidate or campaign tries to declare victory before the final results are in, then it will add a label to posts directing people to the official results from Reuters and the National Election Pool.

“The US elections are just two months away, and with Covid-19 affecting communities across the country, I’m concerned about the challenges people could face when voting. I’m also worried that with our nation so divided and election results potentially taking days or even weeks to be finalized, there could be an increased risk of civil unrest across the country,” Zuckerberg wrote on his Facebook page.

Brazil: Wildfires threaten virgin Amazon rainforest

The large fires in Brazil’s Amazon rainforest have begun spreading into untouched areas.

This year’s fire season is worse than usual in Brazil’s Amazon region, where fires have begun spreading into areas of virgin forest.

During the first week of September, more than 8,000 blazes were reported, about one-quarter of which are in virgin areas that have not been cleared or used as farmland.

These forest fires are “burning large amounts of biomass across the Brazilian Amazon”, according to Matt Finer, director of NGO Amazon Conservation.

Al Jazeera’s Monica Yanakiew reports From Rio de Janiero, Brazil.

Mexico wetlands: Conservationists race to protect biodiversity

According to the World Wildlife Fund, more than 85 percent of the world’s wetlands have been lost over the past 40 years.

The World Wildlife Fund is warning of a huge drop in population sizes of fish, birds, reptiles and amphibians across the globe.

More than 85 percent of the world’s wetlands have been lost over the past 40 years, threatening the existence of countless species.

Al Jazeera travelled to the last surviving wetlands of Mexico City, where conservationists are racing to save an endangered species they believe is vital to the region’s biodiversity.

Al Jazeera’s Manuel Rapalo reports from Mexico City.

Stock Alert: PROS Holdings Declines 8%

Shares of AI-powered revenue management solutions provider PROS Holdings, Inc. (PRO) are down more than 8% Thursday morning at $32.15. It has traded in the range of $19.73- $68.81 in the past 52 weeks.

PROS Holdings today announced that it plans to offer $150.0 million convertible senior notes due 2027.

The company intends to use net proceeds from the offering to pay the cost of the capped call transactions among others.

Stock Alert: Navistar Hits New 52-week High As Traton Sweetens Bid

Shares of truck maker Navistar International Corp. (NAV) are climbing almost 16 percent or $5.90 in Thursday’s morning trade at $41.74, after touching a new 52-week high of $43.08.

Traton SE, a subsidiary of Volkswagen Group (VKW.L, VLKAF.PK, VOW.BE), said Thursday that it has increased its offer for the acquisition of all shares in Navistar not already held by the company to $43 per share, and $3.6 billion in total. Previously, the offer was for $35 per Navistar share.

Traton already holds a 16.8 percent stake in Navistar. Volkswagen has confirmed its general intention to provide funds for the financing of an increased offer. If the proposal is accepted, Traton will become the sole owner of Navistar.

Navistar has traded in a range of $15.01 to $43.08 in the past 52 weeks.