Facebook is trending as the social networking giant is rumored to be planning to file for its initial public offering, perhaps as early as this week. The company is reportedly planning a valuation in the range of $75 billion to $100 billion, with some speculation that Facebook will price itself at the low end of that valuation to make itself more attractive to investors. The deal could raise as much as $10 billion. An IPO of this size would rank Facebook among the world's largest public companies. The company could file with the Securities and Exchange Commission as early as Wednesday, with the IPO taking place in only a few months. Facebook is reportedly considering Morgan Stanley ( MS - Get Report) to lead the deal, while Goldman Sachs ( GS - Get Report) may also be involved.
Exxon Mobil ( XOM - Get Report) is another popular search as the company is selling its Japanese unit to its partner TonenGeneral Sekiyu in a $3.9 billion deal. TonenGeneral will buy 99% of the shares of Exxon's Japanese refining and marketing business, Yugen Kaisha. TonenGeneral, which imports and distributes Exxon oil in Japan, attributed the deal to the need to improve efficiency. Oil demand in Japan has been on the decline for over a decade. ExxonMobil's stake in the company will drop from 50% to 22%. The transaction is expected to be completed by June 1.
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.