Drop In Home Sales Weighs Down Markets

Home sales unexpectedly fell in August to weigh down the markets during the midday with the Dow losing 37 points to 9711. Nasdaq tumbled 26 points to 2105.

On the upside

Helicos BioSciences (Nasdaq: HLCS) announced that it sequenced single molecules of RNA with its True Single Molecule Sequencing technology.

Shares of A123 (Nasdaq: AONE) surged on its first trading day.

Second quarter earnings surged for American Greetings (NYSE: AM) as expenses fell.

On the downside

The U. S. Chemical Safety Board reported that Imperial Sugar (Nasdaq: IPSU) ignored dangers for decades leading to an explosion last year that killed 14 people.

Fourth quarter earnings for Copart (Nasdaq: CPRT) fell as sales dropped.

Nomura Holdings (NYSE: NMR) will issue new shares to raise approximately $5.65 billion.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by a margin of more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 13 points to 600.

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