Late Market Roundup (IFNNY, ABX, GG, AMD, BRCM, SNDK)

Natural-gas futures increased their losses, following the government report depicting a larger-than-expected increase in inventories. Natural gas for November delivery fell about 3.7%. The Energy Information Administration (EIA) reported that natural-gas supplies moved up 74 billion cubic feet for the latest week ended. However, analysts were expecting a rise of 67 billion to 71 billion cubic feet for the same period.

Shares of Infineon Technologies (OTC: IFNNY) gained about after Bank of America Merrill Lynch upgraded the company from “neutral” to “buy.” IFNNY's shares are up about 2.3% following the upgrade.

Canadian stocks moved down, with shares of Canadian gold companies as the top decliners in the list. The S&P/TSX Composite Index lost about 0.28% after Statistics Canada reported that the country's real GDP dropped by 0.1% in July. Shares of Canada's Barrick Gold Corp (NYSE: ABX) and Goldcorp Inc (NYSE: GG) declined more than 2%. However, Toronto's main metals and mining index moved up, after Statistics Canada reported rise in the July's mining sector.

Shares of several semiconductor companies dropped after iSuppli lowered its 2010 revenue growth projections for the sector to reflect the weakness in consumer demand and increase in inventories. The top decliners in the list include Advanced Micro Devices (NYSE: AMD), Broadcom Corp (NASDAQ: BRCM) and SanDisk Corp (NASDAQ: SNDK). The Philadelphia Semiconductor Index fell about 1.54%.

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