Nia Warfield6/30/25

Home Depot drops $4.3 billion to buy wholesale supplier GMS in push to win more pros

Home Depot is scooping up construction products distributor GMS for $4.3 billion as it sharpens its pivot to professional contractors.

As part of the deal, Home Depot subsidiary SRS Distribution will acquire all outstanding shares of GMS at $110 apiece, valuing the deal at $5.5 billion with debt included. The companies expect the deal to close by early next year.

“The combination of GMS and SRS will provide the residential and commercial Pro customer with more fulfillment and service options than ever before,” SRS CEO Dan Tinker said. The combined network will span more than 1,200 locations and operate over 8,000 delivery trucks.

The move comes as Home Depot looks to reignite growth while higher mortgage rates and shaky consumer confidence drag on DIY consumer spending. The company briefly posted its first same-store sales gain in two years this February, but sales have since pulled back.

Home Depot shares were largely flat on the news, while GMS jumped nearly 12%.

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Premium seats help push airlines higher following third-quarter results

Shares of American Airlines are climbing toward the carrier’s best trading day since August 12, when ultra-budget rival Spirit issued its initial warning about its ability to survive. American’s shares are up more than 7% on Friday afternoon.

Investors’ optimism comes a day after American posted a better-than-expected full-year earnings forecast. In a call with investors, American said that it’s ramping up its premium cabin offerings.

“Our ability to grow capacity in premium markets will be further supported as we take delivery of new aircraft and reconfigure our existing fleet. These efforts will allow us to grow our premium seats at nearly two times the rate of main cabin seats,” CEO Robert Isom said. American CFO Devin May said that nose-to-tail retrofits of certain wide-body jets will bump the number of premium seats available on those planes by 25%.

Extra legroom has been a boon for major carriers, particularly this quarter. Delta Air Lines said its premium product revenue grew 9% in Q3, compared to a 4% drop in economy seat revenue. Similarly, United Airlines said its premium revenue grew 6%, outpacing economy. Shares of both airlines were up more than 3% on Friday.

Carriers with less exposure to first- and business-class tickets like Southwest Airlines and JetBlue didn’t see the same amount of momentum on the day.

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Ford rallies to 52-week high: Wall Street is optimistic about its EV reset and aluminum plant recovery plan

Ford shares reached their highest level since July 2024 in Friday morning trading.

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GM plans to launch conversational AI in some vehicles next year

The automaker announced a host of tech initiatives at its GM Forward event on Wednesday morning.

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Employer-provided healthcare premiums rose to an average of $27,000 this year

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