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Attachmate, Diamondback: Hot Trends

(New information on the Attachmate-Novell deal and the Diamondback raid updated in today's Hot Trends article.)

NEW YORK ( TheStreet) -- "Attachmate" is a hot search topic today following news that the business software specialist acquired Novell (NOVL) for $2.2 billion.

>>Attachmate Buys Novell For $2.2 Billion

The deal is valued at $6.10 per share and is expected to close in the first quarter of 2011.

Novell also announced that it has entered into an agreement to sell some of its intellectual property to CPTN Holdings, a consortium run by rival Microsoft (MSFT - Get Report), for $450 million in cash.

"Diamondback" is a heavily searched topic today after reports that the Federal Bureau of Investigation began raiding several large hedge funds today as part of an ongoing insider trading probe.

The Diamondback Capital Management office, based in Stamford, Conn., is being searched by federal law enforcement. Connecticut-based Level Global Investors is also under investigation.

A Bloomberg report said that Diamondback declined to comment while Level Global confirmed that agents were at the firm's address. Both hedge funds were founded by former employees of Steven Cohen's SAC Capital Advisors, according to a Wall Street Journal report. ***

Oil prices" is a hot search topic today as the price of oil increased to above $82 a barrel on Ireland's plans to accept a bailout package from the European Union and the International Monetary Fund to bolster its banking system.
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