(Hot Trends article updated with information Oracle CEO losing bid for the Warriors, passing of the financial reform bill and RealtyTrac's foreclosure report.)NEW YORK ( TheStreet) -- Oracle ( ORCL) CEO Larry Ellison lost the bidding war for the Golden State Warriors basketball team on Thursday. Warriors owner Chris Cohan will sell the franchise to a group of partners for $450 million. Earlier reports projected that Ellison was ready to offer up to $401 million. Among the team's new owners are Joe Lacob, a part owner of the Boston Celtics, and Peter Guber, CEO of Mandalay Entertainment. Cohan bought the Warriors in 1995 for $119 million.
Wall Street reform is a commonly searched topic after the Senate passed the financial reform bill on Thursday. The bill may be a great victory for Democrats, but without the 3 Republican votes from Susan Collins and Olympia Snowe of Maine and Massachusetts Senator Scott Brown, the bill would not have made it out of the Senate. The bill lays out new regulations on banks intended to protect consumers who were affected by the massive financial collapse in 2008. The bill now moves on to the White House and awaits President Obama's signature.
Foreclosure sales is trending on Yahoo following the release of RealtyTrac's mid-year 2010 U.S. foreclosure report on Thursday. RealtyTrac reported a total of 1.96 million foreclosure filings on 1.65 million properties in the first half of 2010. The report also stated that 1 in every 78 homes in the U.S. received at least one foreclosure filing in the first 6 months of the year. "The midyear numbers put us on pace to exceed 3 million properties with foreclosure filings by the end of the year, and more than 1 million bank repossessions," RealtyTrac CEO James Saccacio said in the report.
Windows XP is a trending search topic after Microsoft ( MSFT) announced on its blog on Monday that it was releasing Service Pack 1 for Windows 7 and Windows Server 2008 R2 to the public. "We managed to get this puppy out the door a few weeks early, so take advantage and download the code to evaluate the new features and benefits that SP1 can provide for server and desktop installations," wrote Oliver Rist, a senior product manager, on the blog. The updates are designed to improve how memory is allocated across computers and boost graphic and other multi-media performance. Microsoft also announced that it has extended the downgrade rights for XP until January 2020. Downgrade rights allow those using Windows 7 to downgrade to the older XP system. However, Windows 7 Professional with end user downgrade rights will not be available to customers 2 years after the next version of Windows ships.
Bank of America ( BAC) is encouraging customers to use automated teller machines instead of human tellers. They'll be a price for those who don't take the suggestion. The company plans to charge account holders a fee of $8.95 a month if they go to a teller for transactions or ask for a paper statement. In order to avoid the fee, customers must use automated teller machines or online banking for basic transactions such as checking their statements and making deposits or withdrawals.
Smart Technologies ( SMT) announced on Tuesday that it has priced 38.8 million of its class A shares at $17 for an initial public offering. The company manufacturers what might best be described as next-generation chalk boards. Its interactive educational tablets and boards, known as whiteboards, are used at schools and by businesses and were first introduced by the company in 1991. Shares of the company will begin trading today on the NASDAQ under the SMT ticker and on the Toronto Stock Exchange under SMA. Smart intends to take 23% of the IPO's proceeds, while selling shareholders including Intel ( INTC) and Apax Partners will get the rest. 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.