Piper Jaffray said it may sell the business to a Chinese securities firm, though it is considering several options. Other possibilities the company said it exploring could include a joint venture. The business, which Piper Jaffray started in 2006, could reportedly fetch between $50 million and $100 million.
Daiichi Sankyo is trending as it is planning a joint venture with GlaxoSmithKline (GSK) to bring new vaccines to Japan. Daiichi, Japan's No. 3 drugmaker, said the venture -- to be called Japan Vaccine Co. -- would sell vaccines marketed by both companies. Daiichi and Glaxo plan to expand the business as new vaccines become available. Daiichi said the goal of the venture is to improve access to vaccines in Japan, a country known to be slow to approve vaccines. Japan Vaccine Co. is expected to launch in July.
Yelp (YELP) is another popular search as the online review Web site launches on the New York Stock Exchange on Friday. The company was able to raise more than expected in its initial public offering amid worries about competition from Web sites like Google and Facebook. Yelp's IPO values the company at $900 million, with its stock priced at $15 a share -- above its projected range of $12 to $14 a share. Yelp makes most of its money through advertising from local businesses its users review. It reported revenue of $83.3 million in 2011, up 74% from the year before. The company hasn't turned a profit since its founding in 2004.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV