NEW YORK (TheStreet) -- Popular searches on the Internet Tuesday include BB&T (BBT) as the bank said it has modified some terms of its agreement to buy BankAtlantic, the banking unit of BankAtlantic Bancorp (BBX).
BB&T has a roughly $301 million agreement to purchase the Florida lender in effort to boost its market share in the state. The core provisions of the agreement have not changed, but under the modified terms BB&T will assume BankAtlantic Bancorp's obligations with respect to its roughly $285 million of outstanding trust preferred securities.
The two companies will also form a new limited liability company, in which BB&T will hold a 95% preferred interest, while BankAtlantic Bancorp will hold a 5% preferred interest. The LLC will be made up of a $423 million pool of loans and $17 million of assets previously held by BankAtlantic.
The companies expect the deal will close in the second quarter, pending regulatory approvals.
PepsiCo (PEP) is trending as the company is planning the release of its "Next" cola brand in the U.S. later this month. Pepsi Next has 60% less sugar and fewer calories than Pepsi-Cola; it will be sweetened with a combination of both high-fructose corn syrup and artificial sweeteners. Pepsi Next will target consumers who are not fans of diet soda but don't want all of the sugar found in regular cola. PepsiCo CEO Indra Nooyi revealed a plan last month to improve the North American business through spending $500 million to $600 million in marketing and advertising this year. The marketing will focus on 12 brands, including Pepsi. Two of Pepsi's previous attempts at mid-calorie drinks, Pepsi XL and Pepsi Edge, were both discontinued. Pepsi Next will launch nationwide on March 26.
BMW is another popular search after the automaker forecast it will sell more than 2 million cars in 2016, four years earlier than it had planned. BMW said it predicts growth in China and a spending recovery in the U.S. will drive sales. Despite its advance towards its 2-million car sales target, BMW stuck with a conservative guidance for its 2012 operating profit margin. BMW predicts its full-year operating profit margin to be at the upper end of its 8% to 10% target range this year, compared to 11.8% in 2011.
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.
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