Don't try to validate it... Pedialyte-maker Abbott Labs got FDA emergency use authorization for its 15-minute $5 COVID test (that looks like a parking ticket). Shortly after, the Trump admin awarded Abbott $760M to deliver 150M tests in 2020 — Abbot stock soared on the double-whammy. Doctors and school nurses can use the test to quickly deliver results via nasal swab. Abbot's also launching an app that gives COVID-free people a “digital health pass.” This quick, low-cost testing method could be key in slowing the spread.
Time to choose a ship name... Walsoft or Micromart? Walmart unexpectedly teamed up with Microsoft in the race to buy TikTok's US operations. The Chinese-owned video app will be banned in the US on September 15 unless an American company strikes a deal to acquire it. Walmart and Microsoft shares jumped — investors think the Walsoft tag-team gives them a better shot against TikTok's other biggest suitor, Oracle. But now TikTok's parent Bytedance might need the Chinese government's approval to sell, complicating the deal.