Monday Morning Market Movers: 3M Settles, XPeng Buys, Rite Aid Preps

Stocks inched higher on Monday morning as 3M Company settled claims from veterans over faulty earplugs for $5.5 billion, boosting its stock by 4%. Chinese electric vehicle maker XPeng rose 2% after acquiring DiDi Global's electric car development business for up to $744 million and announcing plans to launch a new smart EV brand. Rite Aid stock remained on the trending page after news broke that the company is preparing a bankruptcy filing, with plans to close over 400 stores to alleviate costs related to an opioid case and store shutdowns.