Stocks fell Friday even though a report from the Commerce Department showed the U.S. economy notched solid growth during the third quarter. The Commerce Department said the U.S. economy, the world’s largest, grew at a 2.9% clip in the third quarter, easily beating expectations.
Still, the S&P 500 fell 0.31% while the Dow Jones Industrial Average dropped 0.04%. The Nasdaq Composite lost 0.5%.
Among the stocks finishing the week in style were Baker Hughes Incorporated (NYSE:BHI), Dean Foods Co (NYSE:DF) and Royal Caribbean Cruises Ltd (NYSE:RCL).
Baker Hughes Incorporated (BHI)
Oil services provider Baker Hughes Incorporated jumped almost 8.4% on volume that was more than triple the daily average following reports that General Electric Company (NYSE:GE), a member of the Dow Jones, was interested in acquiring the company.
However, follow-up reports would note GE was not pursuing an outright acquisition of BHI, but rather that the two companies are exploring partnerships.
GE has a sizable oil services presence and has previously been rumored as a potential suitor for some of the industry’s players viewed as takeover targets. BHI has also been the focus of previous takeover talk.
Dean Foods Co (DF)
Shares of Dean Foods Co surged 10.7% on volume that was nearly eight times the daily average on speculation that the company could be acquired by a Chinese suitor.
Hongsheng Beverage, a unit of Hangzhou Wahaha Group, is talking to banks in Hong Kong about financing a deal for DF, reports the Financial Times.
Texas-based DF is the largest distributor and processor of dairy products, an area of the food segment analysts see as primed for further consolidation.
Royal Caribbean Cruises Ltd (RCL)
Cruise operator Royal Caribbean Cruises Ltd soared 9.2% on volume that was more than triple the daily average after the company said it could earn $6.78 per share in 2017, meaning earnings will have doubled since 2014.
RCL reported an adjusted profit for the third quarter of $3.20 per share while analysts expected $3.10. The company said revenue rose 1.6% to $2.56 billion, below the $2.8 billion analysts expected.
RCL is the second-largest cruise operator.
At the time of this writing, Todd Shriber did not own any of the aforementioned securities.
