Disappointing Drop In Home Sales Weighs Down Markets

On the upside 

Zhongpin (Nasdaq: HOGS) was awarded Most Valuable Brand in China's Meat Industrty 2009 and will receive approximately $5.5 million in Chinese government subsidies .

OraSure Technologies (Nasdaq: OSUR) will provide Premier's more than 2,200 member hospitals with its OraQuick ADVANCE test to detect antibodies to HIV-1 and HIV-2.

Meritage Homes (NYSE: MTH) has acquired 550 lots in the first six months of the year at sharply discounted prices.

On the downside

Hercules Offshore (Nasdaq: HERO) offered a disappointing outlook for the third quarter.

Nasdaq warned Frontier Financial (Nasdaq: FTBK) that it was out of compliance because its stock price fell below $1 per share for thirty days in a row.

Deutsche Securities downgraded Domtar (NYSE: UFS).

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 11 points to 601.