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Market Update

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Shares of Patrick Industries Inc (NASDAQ: PATK) fell about 1.4% after the company appointed John A. Forbes to its Board of Directors, effective August 18, 2011.

Shares of Westlake Chemical Corp (NYSE: WLK) rose about 3.3% after the company announced its plans to buy back as much as $100 million of its stock. The company's board also raised the quarterly dividend by 16%.

Bluescope Steel Ltd (OTC: BLSFY) announced its plans to close operations and lower 1,000 jobs, as it swung to a fiscal-year loss. Bluescope Steel swung to a loss of 1.1 billion Australian dollar ($1.1 billion), versus a profit of A$126 million, in the year-earlier period.

AdCare Health Systems Inc (AMEX: ADK) signed a definitive agreement to buy a skilled nursing and assisted living community in Mountain View, Arkansas for $4.2 million.

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