Stocks closed mostly higher Friday despite a disappointing second-quarter GDP report. Data from the U.S. Commerce Department show the U.S. economy grew 1.2% in the second quarter, well below the 2.5 % economists expected. First-quarter GDP growth was revised lower to 0.8% from 1.1%.
On the back of that news, the S&P 500 was able to muster a gain of 0.16% while the Dow Jones Industrial Average fell 0.13%. The Nasdaq Composite climbed 0.14%.
Carbo Ceramics Inc. (CRR)
Shares of Carbo Ceramics Inc. soared 10.9% on heavy volume after the maker of materials used to increase production at oil and natural gas wells reported a narrower-than-expected second-quarter loss. On an adjusted basis, CRR lost 50 cents a share during the quarter. Analysts expected CRR to lose 90 cents a share.
Texas-based CRR reported revenue of $20.7 million. Analysts expected CRR to post revenue of $23.3 million.
CRR shares are down more than 18% year-to-date.
Hewlett Packard Enterprise Co (HPE)
Shares of Hewlett Packard Enterprise Co rose 3.5% on more than double the average daily volume amid reports the company is a possible takeover target. Bloomberg reports that KKR & Co., Apollo Global Management LLC and Carlyle Group LP are among the private equity firms potentially interested in HPE.
HPE did not comment on the speculation. Citing unidentified sources, The Information originally broke the news about the private equity firms’ interest in HPE.
Shares of HPE are up more than 38% this year.
Qiagen NV (QGEN)
Qiagen NV, the Dutch maker of diagnostic products, surged 14.4% on more than triple the usual turnover after reporting second-quarter results that beat Wall Street estimates.
On an adjusted basis, QGEN earned 24 cents a share in the second quarter. Analysts expected QGEN to earn 23 cents per share. QGEN posted revenue of $334.4 million. Analysts expected QGEN to deliver revenue of $327.9 million.
QGEN shares are down nearly 3% year-to-date.
At the time of this writing, Todd Shriber did not own any of the aforementioned securities.