U.S. stocks drop on Greenspan comments, subprime

Date: Mon, 17 Dec 2007 12:01 ET

U.S. stocks drop on Greenspan comments, subprime

NEW YORK
U.S. stocks on Monday extended losses into a second day as Moody's
Investors Services warned it could lower bond insurer credit ratings
because of subprime losses and Alan Greenspan warned of a possible U.S.
recession.

Trane deal to expand Ingersoll-Rand's climate-control footprint

NEW YORK
Ingersoll-Rand Co. said Monday it would acquire Trane Inc., a provider
of air-conditioning systems and services, in a $10.1 billion deal that
will further diversify the company's global-wide climate-control
businesses.

Economic Report: Current account deficit falls to 5.1% of GDP

WASHINGTON
The U.S. current account deficit narrowed in the third quarter to $178.5
billion, or 5.1% of gross domestic product, the Commerce Department said
Monday.

Plains Exploration selling assets to Oxy Pete, XTO Energy

NEW YORK
Plains Exploration & Production Co. on Monday announced the sale of
$1.75 billion in energy assets, a $1 billion stock-buyback program and
an increase in capital spending to nearly $1.2 billion for 2008.

FDA wants more info on Glaxo's cervical-cancer vaccine

LONDON
The U.S. Food and Drug Administration wants more information on
GlaxoSmithKline's Cervarix cervical-cancer vaccine before clearing it
for sale, giving Merck & Co. more time before a rival comes to market.