Glencore Raises Bid for Xstrata: Hot Trends

NEW YORK ( TheStreet) -- Popular searches on the Internet include Glencore as the commodities trader is attempting to salvage its deal with miner Xstrata by raising its offer for the mining company.

Glencore raised its offer to 3.05 new shares for every Xstrata share, up from 2.8. The bid is now worth about $37 billion.

According to Xstrata, Glencore's new bid entails that Glencore CEO Ivan Glasenberg would become CEO of the combined companies, instead of Xstrata boss Mick Davis, who was originally named to become CEO. Xstrata also said Glencore suggests changing the structure of the deal to get approval more easily from shareholders.

Glencore's bid for Xstrata nearly fell apart after Qatar, Xstrata's second-largest shareholder, said it would vote against the deal unless improvements were made.

Glencore has wanted a deal with Xstrata to create a large-scale mining and trading company. It originally made a bid for the company in February.


Apple ( AAPL) is trending as the company has reportedly cut the amount of memory chips it is ordering for the new iPhone 5 from its main supplier and competitor Samsung.

Apple reportedly claims to be trying to diversify its memory chip supply lines and has been reducing its orders from Samsung. According to reports, Apple has chosen Japan's Toshiba, Elpida Memory and Korea's SK Hynix to supply memory chips for the first batch of the new iPhone 5. The reports indicate that Apple has dropped Samsung from its list of suppliers for the first batch altogether.

The two companies have been warring in court over patent disputes. According to the reports, their litigation is not the reason for Apple's decision to reduce orders for Samsung chips and that Apple has been looking to diversify its chips for some time.


Wikipad is another popular search. The new gaming tablet by Nvidia ( NVDA) will hit GameStop ( GME) stores on Halloween.

According to Wikipad CEO James Bower, the Wikipad is one of the thinnest, lightest and fastest tablets to hit the market. Wikipad is the first tablet with an attachable gamepad controller and is said to be able to deliver console-quality game play.

Wikipad recently signed a deal with Gaikai, enabling the device to stream games. It will also play games from Nvidia's Tegra Zone.

The gaming tablet will be available for $499 on Oct. 31. GameStop bega taking pre-orders for Wikipad on Friday.


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.

If you liked this article you might like

Buy Stocks That Are Right for You: Cramer's 'Mad Money' Recap (Friday 2/16/18)

Buy Stocks That Are Right for You: Cramer's 'Mad Money' Recap (Friday 2/16/18)

Shorts Trampled In Bull Market Rally; UPS Share Structure Examined -- ICYMI

Shorts Trampled In Bull Market Rally; UPS Share Structure Examined -- ICYMI

Jim Cramer: These 4 Stocks Seem Attractive Right Here

Jim Cramer: These 4 Stocks Seem Attractive Right Here

Here Are the 3 Hottest Stories on Wall Street Friday

Here Are the 3 Hottest Stories on Wall Street Friday

General Electric Is One Mega-Cap Stock You Must Still Avoid

General Electric Is One Mega-Cap Stock You Must Still Avoid