Mid-Afternoon Market Update: Markets Fall, AVG Technologies Gains

Toward the end of trading Friday, the Dow traded down 0.21 percent to 13,143.19 while the NASDAQ fell 0.72 percent to 2,970.19. The S&P also fell, decreasing 0.26 percent to 1,415.77.

Best Buy shares took a beating in early trading Friday, falling over 13 percent after the company announced an amended cooperation deal with Schulze, and said a bid would be delivered between February 1 and February 28.

AVG Technologies

gained 8.31 percent to $15.25 midway through trading Friday after the company announced a partnership with Yahoo! Thursday afternoon. United States Steel

was also up, gaining 6.49 percent to $23.78 after a rumor resurfaced that ArcelorMittal may have interest in acquiring the company. NII Holdings

rose as well, trading up 6.21 percent to $6.33 after the announcement that its CEO was stepping down.

Quicksilver

traded down 13.88 percent to $3.51 following a poor fourth-quarter earnings report. VeriFone Systems

was also down, falling 10.89 percent to $29.61 after posting a poor earnings report after the close Thursday. Centene

traded down as well, losing 8.91 percent as it fell to $40.96 after it lowered its fiscal year 2012 guidance.

In commodity news, oil traded up 0.98 percent to $86.73, while gold traded up 0.06 percent to $1,696.90. Silver traded up 0.02 percent Thursday to $32.30.

European markets were mixed this morning, with most markets falling aside from those in the U.K. and France. In Euro zone news, Germany's Angela Merkel denied a French proposal for increased risk-sharing between European nations. While leaders pledged to continue talks, Merkel came out this morning in a press conference saying the risk fund needed to be far more restrained.

Friday morning was another big day for economic releases, with Core CPI year over year coming in at 2.0 percent, in line with estimates and the prior report, while core CPI month over month came in at 0.2 percent, again matching estimates and the prior figure. CPI year over year was reported at 1.8 percent, slightly lower than the projected 1.9 percent and the prior release of 2.2 percent, while CPI month over month came in at -0.3 percent, again slightly below consensus and the prior release.