Stocks Fall but Record Gains for 2007
Stocks declined on the last day of 2007, although trading activity was rather subdued, with light volume on both the NYSE and Nasdaq. Despite today’s losses, all three major indices rose this year, lead by the Nasdaq, which gained nearly 10%, its best performance since 2003.
In the first day of trading since the assassination of Benazir Bhutto, stocks in Pakistan dropped more than 5%.
While most retailers reported lackluster sales over the holiday period, comScore
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PowerRating), a provider of survey and research services, reported online holiday spending reached $28 billion (read more).
In deal news, Tracinda announced it is to acquire a 35% stake in Delta Petroleum
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PowerRating) for $684 million (read more).
The Wall Street Journal reported that Vonage
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PowerRating) settled a patent dispute with Nortel Networks
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PowerRating). VG shares are higher by 7% on the news.
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