Midday Leaders and Laggards: Nasdaq 100

The Nasdaq 100 slipped in midday trading Friday as oil prices climbed above $126 per barrel, Citigroup Inc. said it plans to shed $500 billion in assets and American International Group Inc. reported a $7.81 billion first-quarter loss

The index, which includes 100 of the largest nonfinancial securities listed on the Nasdaq Stock Market, fell 5 points to 1,961.86 in midday trading. The broader Nasdaq composite fell 3.49 points to 2,447.75.

Shares of Steel Dynamics Inc. dropped $1.78, or 4.9 percent, to $34.39. The steel producer said Friday that a subsidiary will buy the remaining interest in Recycle South LLC in a cash and stock deal valued at about $370 million.

Shares of Hansen Natural Corp. continued to drop after the beverage maker's first-quarter profit missed Wall Street's expectations. The stock fell $1.14, or 3.8 percent, to $29.

Shares of Focus Media Holding Ltd., which operates an advertising network in China, slipped $1.35, or 3.3 percent, to $39.13.

On the gaining side, shares of Leap Wireless International Inc. jumped $4.35, or 8.7 percent, to $54.45. The wireless communication company's strong first-quarter sales helped narrow its loss for the period.

Shares of Activision Inc. gained $2.15, or 7.8 percent, to $29.85 after hitting an all-time high of $30.15. The video game publisher's first-quarter was far better than analysts expected.

Shares of Nvidia Corp. rose $1, or 4.6 percent, to $22.95 after first-quarter profit rose 34 percent.