Midday Leaders and Laggards: Nasdaq 100 surges with Street

The index, which includes 100 of the largest nonfinancial securities listed on the Nasdaq Stock Market, gained 41.40 points, or 2.3 percent, to 1,836.13 in midday trading. The broader Nasdaq composite added 49.86 points, or 2.2 percent, to 2,335.89. Only five members of Nasdaq 100 were falling at midday.

Intel and Coca-Cola bellwethers of their respective industries beat Wall Street's first-quarter expectations.

Shares of KLA-Tencor Corp., which makes parts for the semiconductor industry, led the index, rising $2.95, or 7.4 percent, to $42.82.

Shares of Steel Dynamics Inc. jumped $2.54, or 7.3 percent, to $37.58.

Shares of Chinese search engine Baidu.com Inc. spiked $18.86, or 6.5 percent, to $307.30.

On the declining side, shares of beverage maker Hansen Natural Corp. slipped $1, or 2.9 percent, to $33.05 after hitting a 52-week low of $33.02 earlier in the session.

Shares of Expedia Inc. lost 28 cents to $23.78.

And shares of Amgen Inc. fell 15 cents to $43.21.