Stocks under pressure but still on track to post yearly gains

Date: Mon, 31 Dec 2007 22:06:08 (GMT)

Stocks under pressure but still on track to post yearly gains

U.S. stocks dropped Monday on the final trading day of 2007, with the
market finding only short-term comfort from a report that existing-home
sales modestly improved in November.

Economic Report: Existing-home sales rise modestly in November

Offering a rare hint of stability, sales of U.S. existing homes rose
0.4% in November to a seasonally adjusted annualized rate of 5 million,
the National Association of Realtors reported Monday.

Merrill reportedly seeking more capital from foreign investors

BOSTON
Merrill Lynch & Co. was in talks this weekend with Chinese and Middle
Eastern sovereign wealth funds to raise more capital in a bid to stave
off liquidity concerns following massive credit losses, British
newspaper The Observer reported.

Delta Petroleum climbs as Kerkorian takes 35% stake

Delta Petroleum Corp. announced Monday that billionaire Kirk
Kerkorian's private investment firm Tracinda Corp. is taking a 35%
stake in the Denver-based natural gas company, providing a major
infusion of cash that will allow it to step up its exploration drilling
and perhaps boost reserves through acquisitions.

Google looks to increase ad space with newspapers

Google shares edged below the $700 mark Monday as investors sussed out a
report that the Internet giant is exploring a method of selling
newspapers' advertising space online.