Market Sheds Early Gain

The U.S. equity market shed its early gains, with the Dow Jones and S&P 500 currently trading lower, while the Nasdaq still trading higher. The Dow Jones is currently down 0.47% to 11,042.08, the S&P 500 is currently down 0.34% to 1,169.82 and the Nasdaq is currently up 0.34% to 2,443.73.

Advanced Micro Devices Inc. (NYSE: AMD) reported its third-quarter financial results after market close on Thursday. The company posted a 16% increase in its third-quarter revenue to $1.62 billion. The company reported third-quarter net loss of $118 million, down from $128 million reported in the third quarter of 2009. Shares of Advanced Micro Devices are currently down 1.39% to $7.04, after touching a low of $7.01 in early trading.

Shares of Gannett Co. Inc. (NYSE: GCI) plunged after the company reported its third-quarter financial results. The McLean, Virginia-based Company reported third-quarter earnings per diluted share from continuing operations of $0.42, compared with $0.31 reported in third quarter of 2009. The company reported third-quarter operating revenue of $1.31 billion, unchanged from the third quarter of 2009. Shares of Gannett Co. Inc. touched an low o $12.47 in early trading, and are currently down 9.65% to $12.73.

Shares of General Electric Company (NYSE:  GE) are currently down 4.66% to $16.36, after touching a low of $16.27 in early trading. The stock opened at $16.78, after the company reported its third-quarter financial results.

The Commerce Department today said inventories in the U.S. rose more than forecast in August. According to figures released by the Commerce Department, inventories 0.6% in August.