NEW YORK—Shares of Mylan Inc. took the biggest hit on the Standard & Poor's 500 index, helping drag the index lower at midday as investors pulled back amid higher oil prices and a steep loss from American International Group Inc.
The S&P 500 lost 10.13 points to 1,387.55.
Shares of Mylan lost $1.38, or 11 percent, to $11.08. On Thursday, the generic drug maker posted a wider first-quarter loss because of a $385 million one-time charge.
Shares of AIG fell $3.05, or 6.9 percent, to $41.10. The insurer posted a $7.8 billion first-quarter loss, its second quarterly loss in a row, and announced a $12.5 billion plan to shore up a weak capital base.
Shares of Public Storage slid $4.63, or 5 percent, to $87.18 after the real estate investment trust's first-quarter funds from operations report missed analyst estimates.
Among the gainers, H&R Block Inc. climbed $1.59, or 7.3 percent, to $23.45. On Friday, the company said a regulator rescinded its requirement for a 3 percent tangible capital reserve, opening the door for stock buybacks.
Shares of TECO Energy added $1.15, or 6.5 percent, to $18.86 after reaching as high as $19.10, a fresh 52-week record, earlier in the session. Late Thursday, a Citi Investment Research analyst upgraded the electric utility and coal and natural-gas maker to "Buy" from "Hold" on better margins in its coal segment.
And shares of Sprint Nextel Corp. climbed 49 cents, or 5.5 percent, to $9.47 ahead of its first-quarter earnings scheduled to be released Monday.
