NEW YORK ( TheStreet) -- Popular searches on the Internet include Twitter after news that the micro-blogging site acquired news aggregation service Summify.

Financial details of the transaction were not disclosed. Summify, which emails users summaries of the top news stories of the day based on the most popular links on the users' social networks, has announced that it will begin scaling back operations and ultimately stop its service. New account registrations have also been disabled. Five members of Summify, including its two founders, will join the Twitter Growth team in San Francisco.

Twitter has not commented yet on what impact Summify will have on the site.


Apple ( AAPL) is trending as it could be one step closer to bringing its iPhone to carrier China Telecom ( CHA).

An iPhone device compatible with China Telecom's CDMA networks received a license this week from China's Telecommunications Equipment and Certification Center. This comes after the recent approval granted by another Chinese regulator. A company spokesman for China Telecom, which has 123 million mobile subscribers, said negotiations have been moving smoothly with Apple, and while there is no firm timeline, the company hopes to offer the iPhone soon.

China Unicom ( CHU)is currently the sole and official carrier of the iPhone in the country.


Megaupload.com is another popular search. Hackers are taking on various websites, including that of the U.S. Department of Justice, after the indictment of seven people and two companies involved with file-sharing website megaupload.com.

The indictment, which occurred just one day after the online protests of the Stop Online Piracy Act, alleged that the website and an associate company, Vestor Limited, caused about a half-billion dollars in copyright losses and made $175 million in profits. An hour after the indictment was announced, www.justice.gov was taken down, with cyber hacktivist group Anonymous taking responsibility. Though the website was later back online, other Web sites experienced similar cyber attacks. The FBI's Web site was temporarily down, as well as those for the Recording Industry Association of America, Universal Music and the Motion Picture Association of America. The seven individuals who were indicted have been charged on multiple counts and could face a maximum of 20 years in prison if convicted.


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.

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