Friday's Winners & Losers

Updated from 11:50 a.m. EDT

Playtex(PYX Quote) was among the NYSE's winners Friday, jumping 15.8% after the company, which makes feminine, infant and skin-care products, agreed to be acquired by Energizer(ENR Quote) for about $1.9 billion, or $18.30 a share.

The acquisition, which also includes the assumption of debt, represents an 18% premium over Playtex's closing price Thursday. "We believe this is a great development for Playtex shareholders and employees," Playtex said in a statement. "It represents a significant premium over our current trading price, and an opportunity for our shareholders to capture the value that has been created at Playtex over the last several years."

Shares of Playtex closed up $2.45 to $17.97, while shares of Energizer gained 94 cents, or 0.9%, to $107.67.

Baker Hughes(BHI Quote) fell 5.8% after the oil services company warned that second-quarter earnings would be below forecasts. The company sees earnings of $1.07 to $1.09 a share, including 5 cents of costs from a tax-rate increase and higher repair and maintenance expenses.

Analysts polled by Thomson Financial project $1.18. Shares closed down $5.13 to $84.

Baker Hughes blamed the shortfall on a "significant deterioration of activity and profitability in Canada -- particularly in the drilling and evaluation segment."

Shares of Spectrum Brands(SPC Quote) tumbled 6% after the consumer products company cut its full-year earnings and revenue guidance. The company now sees earnings before interest, tax, depreciation and amortization of $260 million to $264 million on revenue of $2.63 billion. Previously, the company said that it would earn $282 million on revenue of $2.65 billion.

"The company lowered projections due to unfavorable weather conditions experienced during the fiscal third quarter, particularly the impact of drought conditions across much of the country, which had a negative impact on its home and garden business, as well as lower-than-expected European battery sales and a cautious outlook on the part of U.S. retailers regarding inventory levels, which caused a shortfall in projected results for global batteries and personal care," Spectrum said.

The company does not expect any liquidity or debt-covenant issues as a result of the revised expectations. Shares closed down 37 cents to $5.77.