NEW YORK ( TheStreet) -- Popular searches on the Internet Thursday include insider trading as Raj Rajaratnam will be sentenced later Thursday to what many expect will be one of the longest jail terms for such a case in history.

Rajaratnam, co-founder of hedge fund Galleon Group, was convicted in May of insider trading and conspiracy. Prosecutors are asking for a sentence of more than 20 years in jail, while his defense attorneys request a maximum of eight years and one month, arguing Rajaratnam is in poor health.

In the biggest insider trading case in decades, Rajaratnam was arrested in October 2009 after an FBI investigation involving secret phone taps provided recorded telephone conversations as evidence.


Lenovo is another hot topic. Two research firms have named the company as the No. 2 personal computer maker in the world, surpassing Dell ( DELL).

Both research firms, Gartner and International Data Corp., said Lenovo's growth was spurred by increased shipments to Japan and European markets, while Gartner also attributed Lenovo's growth to aggressive pricing.

CEO Yang Yuanqing said Lenovo's new status makes it a strong challenger to become the world's top PC maker, though the company won't sacrifice its gross margin to boost its market share. Hewlett-Packard's ( HPQ) PC business currently holds the top spot.


Yahoo! ( YHOO) is also trending with reports that AOL ( AOL) CEO Tim Armstrong has been in discussions with top shareholders about the possibility of a sale to Yahoo!.

The sale could reportedly result in up to $1.5 billion in cost savings from overlapping data centers and duplicate news sites. Armstrong is reportedly attempting to garner shareholder support for a deal with Yahoo!, with the argument that combining with Yahoo! would be attractive to ad agencies looking for big audiences, Reuters reported.

AOL hasn't commented on the reports.


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.
Brittany joined TheStreet.com TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.