The S&P 500 and Nasdaq were up, while the Dow Jones Industrial Average was down in late-morning trading Friday after Federal Reserve Governor Christopher Waller told CNBC the central bank could rates as early as July.

In company news, GMS (GMS) confirmed Thursday it received an unsolicited proposal from QXO (QXO) to acquire the company for $95.20 per share. Separately, Home Depot (HD) also submitted a bid for GMS, the financials of which were not disclosed, according to media reports. GMS shares were up 28.2% around midday, while shares of QXO and Home Depot were up 4.1% and 0.9%, respectively.

Kroger (KR) reported fiscal Q1 adjusted earnings Friday of $1.49 per diluted share, up from $1.43 a year earlier and above the FactSet consensus analyst estimate of $1.45. Fiscal Q1 sales were $45.12 billion, down from $45.27 billion a year ago and below the FactSet consensus of $45.16 billion. The company maintained its fiscal 2025 adjusted EPS guidance of $4.60 to $4.80 and continues to expect capital expenditures of $3.6 billion to $3.8 billion. Kroger shares were up 8.7%.

Couchbase (BASE) said Friday it has entered into a definitive agreement to be acquired by Haveli Investments in an all-cash deal valued at about $1.5 billion. Couchbase shares were up 30.4%.

Price: 71.31, Change: +5.79, Percent Change: +8.84