Canada Markets closed

Target hikes wages, GM gets upgraded, Disney and Optimum in contract dispute

Here’s a look at some of the stocks the Yahoo Finance team will be tracking for you today.

Target (TGT) is pledging to raise its minimum wage to $11 per hour and promising $15 an hour by 2020. Target’s CEO says he chose to make the pay raise public to show that Target’s investment in its employees is ‘definitive’. The raise beats Walmart’s (WMT) recent wage increase to $10 an hour.

General Electric (GE) shares are in the spotlight after Swiss engineering company ABB said it’s buying GE’s industrial solutions business for $2.6 billion. The acquisition is meant to help ABB gain ground in the US. The power grid maker is also betting it can make, what it calls GE’s “unloved child” more profitable.

Genuine Parts (GPC) shares soared in early trading. The car part replacement company is buying its European peer Alliance Automotive Group for $2 billion. The deal is expected to close in Q4, boost earnings per share and generate over $2 billion immediately after closing.

General Motors (GM) shares were higher on Monday after Deutsche Bank upgraded the stock to buy from hold with a price target of $51 a share. The firm sees potential in GM’s mobility business, including a potential spinoff.

Altice (ATUS) stock is on investors’ watch list after Disney (DIS) said it plans to pull ABC and ESPN from the cable provider, better known as Optimum, if the two can’t reach a deal. Altice says Disney is asking for hundreds of millions of dollars in new fees to keep ESPN and ABC despite a drop in ratings. If the two aren’t able to come to an agreement, analysts say the loss could reduce Disney’s negotiating power with other providers as well.

D.R. Horton (DHI) shares were under pressure in early trading after lowering its Q4 guidance. The home builder also says cash flow from operations is expected to be cut in half. The company says the lowered outlook is due to delays caused by recent hurricanes.