WASHINGTON (AP) — The number of Americans who bought previously occupied homes rose in August. But sales were driven by an increase in foreclosures, a sign that home prices could fall further next year and slow a housing recovery.

The National Association of Realtors said Wednesday that home sales rose 7.7 percent last month to a seasonally adjusted annual rate of 5.03 million homes. That’s below the 6 million that economists say is consistent with a healthy housing market.

Last month’s pace was slightly ahead of the 4.91 million sold in 2010, the worst sales level in 13 years.

Homes at risk of foreclosure made up 31 percent of sales. That’s up from 29 percent in July. Many are being bought by investors.

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Blackstone COO: Europe is “Locked Up”

Wed Sep 21, 2011 12:23pm EST 1

In a CNBC interview, he said the credit markets are seized up in Europe to the point that a mere $1 billion deal is the ceiling now.

He also said deals in the US require 50% equity.

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FLASH: Goldman Ups Apple Price Target to $520

Wed Sep 21, 2011 9:12am EST Comments Off on FLASH: Goldman Ups Apple Price Target to $520

Stock is up 4 to $417

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Upgrades and Downgrades This Morning

Wed Sep 21, 2011 9:06am EST Comments Off on Upgrades and Downgrades This Morning

Upgardes

PPL – PPL Corp initiated with a Neutral at Credit Suisse

SM – SM Energy initiated with a Neutral at Susquehanna

HOT – Starwood Hotels initiated with a Buy at Deutsche Bank

H – Hyatt Hotels initiated with a Buy at Deutsche Bank

TOT – Total S.A. upgraded to Neutral from Underperform at Credit Suisse

WY – Weyerhaeuser initiated with a Hold at Citigroup

NOG – Northern Oil & Gas initiated with a Outperform at RBC Capital Mkts

BKI – Buckeye Tech initiated with an Outperform at RBC Capital

WYN – Wyndham Worldwide initiated with a Buy at Deutsche Bank

DOC – Ducommun initiated with a Outperform at Wedbush

INFA – Informatica upgraded to Buy at boutique firm

CHH – Choice Hotels initiated with a Hold at Deutsche Bank

Downgrades

ARUN – Aruba Networks downgraded to Neutral from Outperform at Mizuho

VRSN – VeriSign downgraded to Neutral from Overweight at JP Morgan

BBD – Banco Bradesco ADS downgraded to Neutral from Buy at Goldman

DG – Dollar General initiated with a Hold at Deutsche Bank

RGC – Regal Entertainment downgraded to Above Average from Buy at Caris

NWL – Newell Rubbermaid target lowered to $18 from $21 at RBC Capital Mkts

GET – Gaylord Entertain initiated with a Hold at Deutsche Bank

SQNS – Sequans Communications initiated with a Neutral at Chardan Capital Markets

CIB – Bancolombia S.A. downgraded to Sell from Neutral at Goldman

EOG – EOG Resources initiated with a Hold at Stifel Nicolas

BSBR – Banco EOG Santander Brasil downgraded to Neutral from Buy at Goldman

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Gapping Up and Down This Morning

Wed Sep 21, 2011 9:05am EST Comments Off on Gapping Up and Down This Morning

Gapping up

AVL +2%, CXS +7.8%, SAP +3.2%, NFLX +2.7%,RBS +2.4%, ETFC +0.9%, GIS +1.4%,OREX +63.3%,

ARNA +16.7%, ALOG +10.7%, ADBE +6.7%, VVUS +4.2%, ORCL +4.2%, SAP +3.2%, MCP +2.8%, CS +2.6%, UBS +2.5%, REE +1.7%, TOT +1.7%,

MLNX +1.2%, MCP +2.2%,

Gapping down

ANR 9.7%, PACB -5.4%, MPWR -7.8%, O -4.2%, O -2.1% , FCX -0.6%, NLY -0.7%, TSON -3.2%, NLY -0.7%, WLT -11.7%, ACI -4.6%, CAB -3.1%, LPL -1.5%, JEF -1.6%, ARUN -3.9% PCX -4.1%, TCK 3.6%, BTU 2.9%,

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