U.S. stocks extend losses after home sales data

11:46 am ET Aug 27, 2007

DJIA

13,334

-44.22

S&P

1,470

-9.04

NASDAQ

2,562

-14.67

10Yr

4.60%

-0.035

U.S. stocks extend losses after home sales data

NEW YORK
Stocks on Monday fell further after data had inventories of unsold homes
climbing to a 16-year high in July and word Dow component Home Depot had
cut the price tag for its wholesale-supply unit, signaling a harsher
financing climate.

Economic Report: Home inventories hit 16-year high in July

WASHINGTON
Inventories of unsold single-family homes increased 2.2% to 3.85 million
in July, sending the inventory in relation to sales to the highest level
in 16 years, the National Association of Realtors reported Monday.

Attorney General Gonzales resigns

WASHINGTON
Attorney General Alberto Gonzales announced his resignation Monday,
ending a historic but embattled tenure marked by a fierce political
battle over the firings of federal prosecutors.

Gateway to be acquired by Taiwan's Acer for $710 million

NEW YORK
Personal-computer maker Gateway Inc. on Monday said it agreed to be
acquired by Acer Inc. for $710 million, giving the Taiwan-based vendor a
bigger foothold in the U.S. market.

Goldman to buy Japan property from Tiffany in $318 mln deal: WSJ

TEL AVIV
Tiffany & Co., the New York jewelry and luxury-products retailer, will
sell its flagship property in Japan to Goldman Sachs, a person familiar
with the situation told The Wall Street Journal.