Dealmakers just couldn't make it through the weekend. A touch of Merger Monday has seemingly squeaked out on an otherwise run-of-the-mill Friday here on Wall Street: General Mills Inc. (GIS) - Get Report  proved it's starting to think outside the (cereal) box, announcing an $8 billion deal for organic pet foods maker Blue Buffalo Pet Products Inc. (BUFF) , while rumors swirled that Nordstrom Inc's (JWN) - Get Report  founding family group is finalizing an offer to take the U.S. department store operator private.

The potential deal for Nordstrom, yet another retailer plagued by the Inc. (AMZN) - Get Report  effect, comes just a few weeks after TheStreet's Jim Cramer added the stock to his Action Alerts Plus charitable trust portfolio, with the team reasoning Nordstrom's earnings power was being undervalued amidst a broader market selloff.

As for General Mills, we've got a mixed newsroom, as we're not too sure whether the deal is a dicey gamble with a lofty valuation or a stroke of genius from a typically plain-as-Betty Crocker vanilla frosting dealmaker in General Mills. We've put together the arguments for both at, but we'll let you make the final call.

In other deal talk Friday, Qualcomm Inc. (QCOM) - Get Report continued its PR war with hostile suitor Broadcom ltd. (AVGO) - Get Report  , releasing a flurry of letters, press releases and videos in attempt to further fend off the latter's roughly $118 billion bid to buy the company. We have no doubts we'll be updating you on this one come Mondaymorning, but for now read up on the details in Chris Nolter's piece below!

Outside of the deal universe, the markets were headed back to where they were before the February correction, with the Dow ending Friday up almost 350 points, the S&P climbing 43 points and the Nasdaq gaining 147 points.

On the week, the Dow rose 0.36%, the S&P 500 gained 0.55% and the Nasdaq jumped 1.35%. Thursday'scomments from St. Louis Fed President James Bullard, who told CNBC that the markets might be getting ahead of themselves in assuming four rate hikes this year, may have had something to do with Friday's strong rally. Friday's easing of Treasury yields, which took benchmark 10-year notes to around 2.87%, didn't hurt, either.

Friday's closing bell doesn't end the fun this week, however, as the Street eagerly anticipates Warren Buffett's annual letter, expected to arrive Saturday. Berkshire Hathaway Inc. (BRK.A) - Get Report (BRK.B) - Get Report  shareholders will look forward to hearing Buffett detail his plans to participate in the U.S. health care system as well as the results for his sprawling conglomerate. In the past, Buffett, 87, has used humor in his much anticipated, and often quite lengthy, letter to address topics ranging from excesses on Wall Street to dysfunction in Washington.

On both those topics, we're sure the Oracle of Omaha has plenty of knee-slapping material to work from.

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Photo of the day: The Kylie Jenner effect

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For those who say the market is too technicals-driven to move on the news anymore, we give you Kylie Jenner. With one tweet Thursday, the reality TV star and social media icon sent Snap Inc. (SNAP) - Get Report shares tumbling 8%. In the process, Jenner -- apparently unhappy with the redesign of the company's Snaphat app -- racked up $163 million in paper profits for those shorting Snap's stock, according to research firm S3 Analytics. It's not all bad news for Snap, though, with Jenner tweeting she still loved the app, and the company has already vowed to get back to work on the redesign following uproar from its broader fan base.

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