Stocks – GE, Dish, ConocoPhillips Rise in Premarket; GM Falls

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© Reuters. © Reuters. — Stocks in focus in premarket trade on Monday:

  • General Electric (NYSE:) rose 0.7% after it announced a freeze to its U.S. pension plan, affecting 20,000 employees, in a move that it said would cut the group’s pension deficit by between $5 billion and $8 billion, and cut net debt by up to $6 billion.
  • General Motors (NYSE:) fell 1.0% after the UAW said negotiations to end a four-week strike “took a turn for the worse” at the weekend due to what it said was management’s failure to provide job guarantees for U.S. workers.
  • Broadcom (NASDAQ:) was in focus after a report by the FT said the European Commission is set to clamp down on perceived abusive clauses in its sales contracts, even though the Commission hasn’t yet concluded its investigation into the company.
  • Uber (NYSE:) rose 3.3% after being upgraded to “buy” by analysts at Citigroup (NYSE:). That’s a valuation-driven change, as the analysts haven’t changed their price target from $45.
    • DISH Network (NASDAQ:) rose 11.8% after concluding a peace deal with Fox that restores access to Fox channels for its subscribers after a two-week dispute.
  • ConocoPhillips (NYSE:) rose 1.8% after increasing its quarterly dividend by 38% to 42 cents a share and saying it plans to buy back $3 billion of stock next year.
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