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Stocks are lower on the last day of the year, although trading activity has been rather subdued, with light volume on both the NYSE and Nasdaq.
In the first day of trading since the assassination of Benazir Bhutto, stocks dropped more than 5% in Pakistan.
While most retailers reported lackluster sales over the holiday period, comScore (SCOR | Quote | Chart | News | 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 (DPTR | Quote | Chart | News | PowerRating) for $684 million (read more).
The Wall Street Journal reported that Vonage (VG | Quote | Chart | News | PowerRating) settled a patent dispute with Nortel Networks (NT | Quote | Chart | News | PowerRating). VG shares are higher by 7% on the news.
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