Us Stocks Mostly Rise Following Strong Economic Report

NEW YORK (AP) — U.S. stocks are mostly higher Friday morning after the government said the economy broke out of its recent slump and grew faster than expected during the third quarter. Real estate and basic materials companies are trading higher. Prescription drug distributor McKesson plunged after its revenue fell about $1.5 billion short of estimates. AB InBev cut its annual revenue forecast following weak results from its business in Brazil. Alphabet, Google's holding company, reported strong third-quarter results. General Electric and Baker Hughes rose after the Wall Street Journal said the companies were discussing a deal that would combine Baker Hughes, an oil drilling services company, with a GE energy business. Baker Hughes tried to combine with competitor Halliburton in 2014, but the companies walked away from the combination after the federal government sued to block it. Amgen, the world's largest biotech drug company, reported solid results for the third quarter and raised its guidance. [...] the company also disclosed flat sales of the anti-inflammatory medication Enbrel, its top-selling drug. Royal Caribbean Cruises, which has fallen by almost a third this year, traded higher after its third-quarter profit came in ahead of estimates. Japan's benchmark Nikkei 225 gained 0.6 percent and South Korea's Kospi fell 0.2 percent.

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