The Nasdaq 100 index slipped in midday trading Monday after Microsoft Corp.'s weekend decision not to pursue Yahoo Inc. spread worry on Wall Street about further merger-and-acquisition activity.
The index, which includes 100 of the largest nonfinancial securities listed on the Nasdaq Stock Market, fell 2.42 points to 1,979.45 in midday trading. The broader Nasdaq composite fell 7.32 points to 2,469.67.
Shares of Yahoo helped lead the index down, dropping $4, or 14 percent, to $24.67.
Shares of United Airlines operator UAL Corp. slipped $1.07, or 6.7 percent, to $14.82 as the price of oil flirted with $120 per barrel on the New York Mercantile Exchange. The profitability of airline operators is closely linked to jet-fuel costs.
Shares of Discovery Holding Co. fell $1.02, or 4.1 percent, to $23.34.
On the gaining side, shares of Chinese search engine Baidu.com Inc. jumped $14.37, or 4 percent, to $375.87.
Shares of Steel Dynamics Inc. gained $1.07, or 3.1 percent, to $35.98.
Shares of Foster Wheeler Ltd. added $1.08 to $64.45.
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