Attachmate, Diamondback: Hot Trends
(New information on the Attachmate-Novell deal and the Diamondback raid updated in today's Hot Trends article.)
NEW YORK (
) -- "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
, 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.
News of the deal helped strengthen the euro's value against the dollar, which gave oil prices a boost.
The January crude oil contract rose 35 cents to trade at $82.33 a barrel.
"Wells Fargo" is a popular search topic today after
Citigroup
(C) - Get Report
and
Wells Fargo
(WFC) - Get Report
settled litigation involving the acquisition of Wachovia from the Federal Deposit Insurance in 2008.
>>Citi, Wells: Financial Winners and Losers
Wells Fargo will pay Citigroup $100 million to resolve the dispute.
Citigroup initially appeared to have reached a deal to buy Wachovia for $1 per share, but Wells ended up winning the bank with a $7 bid. Reports claim that the issue has caused extensive bad blood between FDIC Chairman Sheila Bair and Citigroup boss Vikram Pandit.
The chatter on Main Street (a.k.a. Google) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on Google, and highlights the news that could make stocks move.
-- Written by Theresa McCabe in Boston.
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