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ASX200 dips; Advanced Human Imaging skyrockets 44%; Woolworths enters API takeover race.

  • The ASX200 is trading 0.27% lower after lunchtime at 7216.60.
  • Advanced Human Imaging skyrockets 44% on agreement with Cubert.
  • Australian Pharmaceutical Industries soars on Woolworths takeover bid.

The Australian market is trading 0.27% lower at 7216.60 points after lunchtime as a more than 3% tumble for tech stocks weighs the key index down.

The tech sector is following the tech-heavy Nasdaq’s lead from Wall St overnight, tumbling more than 3% today so far, led by Afterpay shedding 5.73% in the wake of a delay in the takeover process for Square to acquire the BNPL leader.

Bitcoin is trading 0.16% lower over the last 24-hours at US$57,089.17 at 1:45pm AEDT.

Advanced Human Imaging is skyrocketing 44% today after the company announced it has concluded definitive agreements with Canadian based health tech company, Cubert. Under the definitive agreements, Advanced Human Imaging’s technology will be integrated with Cubert’s ‘FitTrack MyHealth’ to create a new functionality called ‘FitScan’ which will enable users to privately check, track, accurately assess overall wellness, and predict potential health risks from their smartphone. The combined application will be made available in February 2022 across iOS and Android platforms.

Making headlines, Australian Pharmaceutical Industries (API) is soaring more than 16% today after Woolworths made a late pitch to takeover the Priceline parent company, taking on Wesfarmers with a higher bid. Woolworths today announced an offer of $870m to acquire 100% of API shares at a price of $1.75/share, well above the Wesfarmers offer of $1.55/share for the acquisition.

And customers in California’s Mountain View suburb are now able to get 7-Eleven Big Gulps drinks, donuts or any other 7-Eleven product delivered to their home via fully autonomous, self-driving Toyota Prius vehicles through 7-Eleven’s new partnership with driverless transportation company, Nuro.

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