U.S. carriers Southwest Airlines and American Airlines lifted their fourth-quarter forecasts on Thursday, betting on buoyant domestic travel demand during the holiday season and improved pricing.

Diversified conglomerates were long a fixture of the U.S. stock market landscape, with the Dow industrials bolstered by big names such as 3M, General Electric, United Technologies and others. But many of those companies have since broken apart, and shares of their spinoffs have surged.