On Tuesday, Shares of Navistar International Corp (NYSE:NAV), gained 5.70% to $19.10.
The U.S. Army Contracting Command has awarded Navistar Defense a $369 million contract to provide 2,293 Medium Tactical Vehicles (MTVs) to build upon the Afghanistan National Security Force’s (ANSF) MTV Fleet. Production will commence right away, with deliveries starting in January 2016 and concluding in 2019.
“We are honored to continue supporting the efforts of the Afghanistan National Security Force’s missions to provide security and rebuilding in their country,” said Kevin Thomas, president, Navistar Defense. “We have been supporting ANSF since 2005 and have offered more than 9,000 medium-duty vehicles to the Afghan forces during that time.”
Under the contract, Navistar Defense will provide general troop transport vehicles, water and fuel tankers, ammunition trucks, and wreckers in addition to a number of trucks with armored cabs. This fleet is based on the International® WorkStar®/7000-MV severe service vocational truck platform.
Navistar International Corporation manufactures and sells commercial and military trucks, diesel engines, and school and commercial buses; and provides service parts for trucks and diesel engines worldwide.
Shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA), inclined 3.77% to $ 13.76, during its last trading session.
Vanda Pharmaceuticals Inc., declared that the U.S. Food and Drug Administration (FDA) has accepted for review Vanda’s filing of a supplemental New Drug Application (sNDA) for Fanapt seeking approval as a maintenance treatment of schizophrenia in adults.
Vanda is seeking approval based on the results of the REPRIEVE clinical study, which evaluated the long-term maintenance of efficacy and safety of Fanapt.
The FDA has set a user fee aim date under the Prescription Drug User Fee Act of May 27, 2016, which is the target date for the FDA to complete its review of the sNDA.
Vanda Pharmaceuticals Inc., a biopharmaceutical company, focuses on the development and commercialization of products for the treatment of central nervous system disorders. The company’s products comprise HETLIOZ, a product for the treatment of non-24-hour sleep-wake disorder; and Fanapt, a product for the treatment of schizophrenia.
At the end of Tuesday’s trade, Shares of Dover Corp (NYSE:DOV), gained 2.23% to $61.32.
Dover, declared that it has executed a contract with Tokheim Group S.A.S., following which Dover has made a binding offer to acquire Tokheim`s dispenser and system businesses for a purchase price of EUR 425 million (about USD $465 million). The Tokheim Businesses will become part of OPW, a business unit within Dover`s Fluids segment. Tokheim`s sales and service divisions are not a part of this transaction and will become a stand-alone company remaining with the current owners of Tokheim. The transaction is subject to completion of negotiations with certain of Tokheim`s works councils, certain customary regulatory filings and other customary conditions, and is predictable to close early in 2016.
Headquartered in Paris, France, Tokheim is a leading manufacturer of fuel dispensers, retail automation systems, and payment systems. Tokheim products have been associated with exceptional quality for more than a century. The Tokheim businesses have manufacturing operations in Europe, China, India, and Brazil. The addition of the Tokheim Businesses` innovative product offerings will further enhance OPW`s strong position in retail fueling equipment. Through this acquisition, Dover will establish OPW as a leading retail fueling systems provider, featuring a full “Station-in-a-Box” offering with unrivaled product breadth.
Dover Corporation manufactures and sells a range of equipment and components, specialty systems, and support services in the United States. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment.
Finally, Magna International Inc. (USA) (NYSE:MGA), ended its last trade with 1.62% gain, and closed at $49.51.
Magna International, declared that the Ontario Securities Commission (“OSC”) has issued an issuer bid exemption order permitting us to make private agreement purchases of Magna International Inc.’s Common Shares from an arm’s length third-party seller. Any purchases of our Common Shares made by way of private agreement under the September 2015 Order will be at a discount to the prevailing market price, may be made in tranches over time, and must otherwise comply with the terms of the September 2015 Order, counting that: only one such purchase is permitted per calendar week; and any such purchase must occur preceding to the expiry of our Normal Course Issuer Bid (the “Bid”) on November 12, 2015.
Magna was formerly granted issuer bid exemption orders on November 25, 2014 and August 25, 2015 permitting us to make private agreement purchases from four arm’s length third-party sellers on certain terms and conditions contained in the Preceding Orders. The maximum number of Common Shares which may be purchased by way of all such private agreements (counting the September 2015 Order) cannot exceed 13,333,333, being one-third of the total number of Common Shares which may be purchased under the Bid after giving effect to the two-for-one stock split accomplished by Magna on March 25, 2015 (the “Stock Split”). The maximum number of Common Shares purchased in any weekly tranche by way of private agreement will not exceed 1,000,000. As of recently, we have purchased 6,680,000 Common Shares under the Preceding Orders after giving effect to the Stock Split.
Magna International Inc. develops, manufactures, engineers, supplies, and sells automotive products. It operates through North America, Europe, Asia, and Rest of World segments. The company offers body and chassis systems, and related engineering services; seating systems, counting complete seating systems, seat structures and mechanisms, and foam and trim products; interior components and systems, such as garnish and hard trim, soft trim, instrument panels and consoles, overhead systems, and door panels, in addition to powertrain systems, such as driveline systems, fluid pressure and controls, metal forming solutions, and engineering services and system integration solutions.
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