It appears that the Chinese yuan, drug makers and investment banks caught the attention of traders Tuesday -- at least, that's what they're searching for.

If you want to know what stocks traders are interested in right now at this very second, you need look no further than what's hot in Google.

Here's what's hot today.

Back in mid-October, things were tracking nicely for investment bank Jefferies Group (NYSE: JEF). Somehow, the firm was able to weather the turbulence, which ensnared elite firms like Citigroup (NYSE: C) and Merrill Lynch (NYSE: MER).

However, things didn't hold up. In November and December, Jefferies suffered some big setbacks. While Jefferies expects net earnings of $140 million for 2007, the fourth quarter will have a net loss of $24 million, or $0.17 per share.

What happened? Well, Jefferies had issues with two principal trading efforts. There were also problems with the junk bond department. Oh, and there were some postponements of investment banking deals.

Simply put, the markets are experiencing extreme volatility (which was certainly evident last week). No doubt, this makes it pretty tough for firms like Jefferies.

The good news is that Jefferies has a strong capital base and has no need for outside capital infusions. Besides, the firm has taken great efforts to diversify its business (going beyond just a pure broker).

But with investors extremely jittery right now, such things are not being considered – at least in the short-run.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates DealProfiles.com.

It may be Independence Day week, but it appears that there are a number of companies willing to sell their independence to the highest bidder.

• XM SATELLITE RADIO HOLDINGS INC (NASDAQ: XMSR)

Word is that there's more than one bid out for the satellite radio company. We know about the merger agreement with Sirius Satellite Radio Inc's (NASDAQ: SIRI), so who's the other party? Or, is there another party? Some are convinced it's just talk. No names are even floating around. But for XM to walk away from Sirius would cost them a $175M break-up fee. They'd have to really be serious about another offer to do that.


• BUILDING MATERIALS HOLDING CORPORATION (NYSE: BLG)

In May, Robert L .Chapman of Chapman Capital, the "activist investor", said Building Materials Holding Corp. should consider selling all or parts of itself. Then he upped his stake to 8.1% in the residential construction services provider. Now comes word that the company may have hired, or be in the process of hiring, a strategic advisor.