Sony ( SNE) is trending as it said it will purchase cloud-gaming company Gaikai in an all-shares deal for $380 million. Sony plans to create a new cloud-based service based on Gaikai's platform. Gaikai's platform enables users to stream games on various devices. The deal is subject to regulatory approval. The date by which it is expected to be completed is unknown. Just a week ago, Gaikai CEO David Perry denied there was any deal between the two companies.
Bristol-Myers Squibb ( BMY) is another popular search. The company announced it will buy diabetes drugmaker Amylin Pharmaceuticals ( AMLN) for $5.3 billion, or $31 a share, in cash. Including debt, the deal is valued at about $7 billion. The deal will expand Bristol-Myers' portfolio of diabetes treatments with Amylin's products like Byetta and Bydureon. In a follow-up deal, Bristol-Myers also will receive $3.4 billion from AstraZeneca ( AZN) to develop Amylin's drugs. Bristol-Myers and AstraZeneca already collaborate on several diabetes drugs. The boards of Amylin, Bristol-Myers and AstraZeneca have approved the two deals. Amylin rejected a previous $3.5 billion takeover bid from Bristol-Myers.
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.