(Hot Trends article updated with new information about Amazon's release of the new Kindle DX and the record low mortgage rate.)NEW YORK ( TheStreet) -- Amazon ( AMZN) is doing its best to keep itself among the most-searched-for names on the Web today. Amazon's announcement of the acquisition of online shopping site Woot initially sent investors to their search boxes, but the company followed up today by announcing plans to introduce the next version of its Kindle reader, the Kindle DX. The upgraded Kindle DX will come at a reduced price of $349 compared with the original's $489 price tag. Amazon said the Kindle DX has 50 percent improved contrast and darker fonts. It's currently available for preorder and ships on July 7.
Mortgage rates dropped to 4.58% this week, reaching their lowest in more than 50 years, and setting browsers ablaze searching for "mortgage rates." Despite the low rate, signed home-purchase contracts dropped by 30% in May from April. Steadily declining mortgage rates haven't been enough to reverse the struggles of the housing market. According to a survey by Freddie Mac, the average rate on a 30-year, fixed mortgage in May was 4.89%, while last year around this time rates were at 5.42%.
A New York woman filed a lawsuit against General Mills ( GIS) on Tuesday claiming the company has been misleading consumers about the nutritional and health qualities of its Fruit Roll-Ups and other popular fruit snacks, such as Fruit by the Foot and Fruit Gushers. The complaint, made by Payton McClure at the Manhattan federal court, claims General Mills failed to properly disclose that these fruit products contain partially hydrogenated oil. The suit also claims that the company's claims that its fruit snacks are naturally flavored, low fat, and "a good source of Vitamin C" are unfounded. McClure seeks class-action status on behalf of purchasers of the fruit snacks, compensatory and punitive damages and other remedies.
Toyota ( TM) is planning to recall possibly 270,000 luxury vehicles worldwide, including 17,000 Lexus 2010 HS250h Sedan hybrids. The recall would be to address a fuel-spillage problem, and possibly an engine problem.
Amazon ( AMZN) plans to acquire the online shopping site Woot sometime in the third quarter. Financial terms of the deal were not disclosed. Woot chief executive officer Matt Rutledge explained in a blog post on Wednesday that Woot headquarters plans to stay in Carrollton, Texas, and the company will operate autonomously as other Amazon subsidiaries like Zappos and Audible.
Congress has approved extending the deadline for the home buyer tax credit from June 30 to September 30. On Wednesday night, hours before it was set to expire, Congress passed the measure by unanimous decision. Would-be buyers who signed a purchase agreement by April 30 were granted three extra months to close on those deals and receive a credit of up to $8,000.
While Hurricane Alex didn't directly cross paths with the BP ( BP) oil-spill area, the choppy waters and strong winds it churned up created more complications for the cleanup effort and could continue to be disruptive for several more days. The storm's path and it's impact on the cleanup effort has kept "Hurricane Alex" a top trending topic on the Web. As the hurricane crossed the Gulf of Mexico this week, more than 500 oil skimming ships were forced to return to shore. However, the storm did not halt progress on BP's bid to drill relief wells in proximity to the leak site. Drilling of the relief wells is on track to reach the area in August.
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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. -- Reported by Theresa McCabe in Boston. Follow Theresa McCabe on Twitter and become a fan on Facebook.