Japan’s big hope in karate is from the home of the sport.

By Ken Belson and Enya Toyama

TOKYO — Every city that hosts the Olympics pushes for events popular in its country to be included in the program, and Tokyo is no different. The Japanese organizers successfully lobbied for baseball to return after an absence of a dozen years and for surfing to make its debut.

LCI Industries’ Unit To Buy Furrion Holdings

LCI Industries (LCII) on Wednesday said its wholly-owned subsidiary, Lippert Components, Inc., agreed to acquire Furrion Holdings Limited, a distributor in the recreational vehicle, specialty vehicle, utility trailer, horse trailer, marine, transit bus, and school bus industries.

Lippert is a supplier of highly engineered components for the original equipment manufacturers in the recreation and transportation product markets.

The financial details of the transaction have not been disclosed.

The transaction is expected to close in the third quarter of this year.

With headquarters in Hong Kong, China, and Elkhart, Indiana, Furrion has become a premier supplier of appliance, appliance accessories, and audio-visual products since entering the RV industry in 2007 and is best known for innovating new appliance products and introducing state-of-the-art camera technology. Furrion’s forecasted 2021 sales are approximately $230 million.

Lippert’s plan is to use its existing relationships to expand Furrion’s distribution of products into its sales channels, including RV, marine, Europe, and adjacent industries, as well as the aftermarkets of those industries.

The shares of LCI Industries are currently trading close to the flatline at $143.25, with a dip of $0.02, or 0.01 percent from previous close.

Why Is Change Healthcare Down 4%?

Shares of Change Healthcare Inc. (CHNG) are slipping over 4% on Wednesday morning on reports that the U.S. Department of Justice is considering to file a lawsuit to block the company’s takeover by UnitedHealth Group.

CHNG is currently trading at $21.02, down $0.95 or 4.32%, on the Nasdaq, on a volume of 4.3 million shares, far above the three month average volume of 1.7 million shares. The stock has traded between $12.05 and $24.21 in the 52 week period.

The Information reported that the DoJ is mulling to block UnitedHealth’s $8 billion takeover of Change Healthcare. The regulator in recent weeks has reached out to private attorneys outside the department about possibly leading the litigation to block the deal.

UnitedHealth agreed to buy Change Healthcare in January for $7.84 billion in an all-cash deal. The acquisition is expected to close in the second half of 2021.

Herald morning quiz: August 5

Test your brains with the Herald’s morning quiz. Be sure to check back on nzherald.co.nz at 3pm for the afternoon quiz.

To challenge yourself with more quizzes, CLICK HERE.

OraSure Technologies Slips 8%

Shares of medical device company OraSure Technologies, Inc. (OSUR) are down more than 8 percent on Wednesday’s trading even as the company posted narrower loss in the second quarter but missed estimates.

For the three-month period, the company posted net loss of $1.4 million or $0.02 per share, compared to net loss of $10.5 million or $0.16 per share for the same period last year.

On average, 6 analysts polled by Thomson Reuters expected the company to post earnings of $0.04 per share in the quarter. Analysts’ estimates, usually, exclude one-time items.

Revenues for the quarter rose 97 percent to $57.6 million from $29.3 million a year ago, while analysts were looking for revenues of $56.7 million in the period.

Currently trading at $11.34, on a volume of 1,019,267. The stock has traded between $8.58 and $19.75 during the past 52 weeks.

Treasury Announce Details Of Long-Term Securities Auctions

The Treasury Department on Wednesday revealed the details of this month’s auctions of three-year and ten-year notes and thirty-year bonds.

The Treasury announced it plans to sell $58 billion worth of three-year notes, $41 billion worth of ten-year notes and $27 billion worth of thirty-year bonds.

The results of the three-year note auction will be announced next Tuesday, the results of the ten-year note auction will be announced next Wednesday and the results of the thirty-year bond auction will be announced next Thursday.

Last month, the Treasury sold $58 billion worth of three-year notes, $38 billion worth of ten-year notes and $24 billion worth of thirty-year bonds.

The three-year and ten-year note auctions both attracted average demand, while the thirty-year bond auction attracted below average demand.

General Motors is going to school with new electric bus

Test drive: 2022 Chevrolet Bolt EUV

The electric 2022 Chevrolet Bolt EUV offers GM’s hands-free Super Cruise highway driving assistang. Fox News Autos Editor Gary Gastelu lets it take him for a spin.

General Motors is getting into the bus business.

GM CEO Mary Barra announced on Wednesday that the automaker is developing an all-electric or hydrogen fuel cell-electric medium duty truck platform that can be used to build buses, wreckers and other service vehicles.

Details on the model were not announced, but GM is the first of the big three automakers to announce intentions to enter the segment.

GM has depicted its Ultium platform with a variety of vehicle types including a van.
(GM)

Barra also confirmed that Chevrolet is working on a full-size cargo van that utilizes the Ultium electric vehicle platform launching this year with the GMC Hummer EV pickup.

She described it as similar in utility to the Chevrolet Express that’s currently available and based on a model that first went on sale in 1996.

Barra did not say when either vehicle would go on sale. Ford is scheduled to begin deliveries of its full-size eTransit electric van by the end of the year.