General Motors ( GM) said it sold 261,870 vehicles in China in April, a 15.3% increase from a year ago. This comes a month after GM said it plans to invest $11 billion in China, $7 billion of which it plans to invest by 2015. The company focused on the U.S. in a separate announcement it made on Monday, saying it plans to invest about $16 billion domestically on factories and facilities through 2016. "Our investments in the U.S. and China reflect our determination to remain number one in the world's top two markets," said GM spokesman Greg Martin. GM CEO Dan Akerson has plans to boost operating margins in North America to 10% from 7.4% by 2015. On May 2, GM reported first-quarter net income that dropped 11% to $1.18 billion from the same period a year ago. Excluding items, the company reported profit of 67 cents a share, beating analysts' estimates of 54 cents.
McAfee announced it will acquire Finnish security firm Stonesoft for $389 million in cash. In a statement, McAfee said it believes the acquisition will "extend its leadership position in network security." McAfee noted "Stonesoft's next-generation firewall" as one of the key ways it expects to grow its network security business. Stonesoft's more than 6,500 customers around the world will be integrated into McAfee's customer base. Intel ( INTC) purchased McAfee in 2011 for about $7.7 billion.
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.