Check out which companies are making headlines before the bell:
General Motors — President-elect Donald Trump on Tuesday attacked General Motors in a tweet, claiming the auto giant is making a Chevy Cruze model in Mexico and then sending them to U.S. dealers tax free.
Walt Disney — Analysts at Evercore ISI upgraded the entertainment giant's stock to "buy" from hold, and raised its price target on the stock to $120 from $103. Evercore cited an improving economic backdrop "and a possible, retroactive [Donald Trump/Paul Ryan] tax reform-adjusted EPS." Evercore said the upgrade is "largely a macro call" as Disney has a business model that benefits from higher inflation and is a largely domestic firm.
Verizon — Citi upgraded Verizon shares to "buy" from "neutral," and hiked its price target to $60 from $55. Citi cited an opportunity for multiple expansion "given the prospects to improve free cash flow from a combination of expanding its addressable market for revenue, benefiting from potential tax reform, and improving its strategic position through M&A."
Abercrombie & Fitch — The firm's stock was downgraded to "hold" from "buy," noting its turnaround efforts are "progressing at a slower pace than we initially expected." Abercrombie's stock plummeted 55.56 percent in 2016.
Xerox — The printer and copier maker's stock spiked more than 10 percent in the premarket after JPMorgan upgraded its stock to "overweight" from "neutral," citing the spinoff of its Conduent business, "which marks the start of a long turnaround process." Xerox shares fell 17.87 percent last year.
Intel — The chipmaker is seeking approval to buy a stake in HERE, a digital mapping firm controlled by Daimler, BMW, and Volkswagen, according to the German cartel office.
Canadian Solar — The company completed the sale of two solar power plants to Shenzhen Energy for $32.2 million, a transaction that was disclosed December 30.
Arch Capital Group — Arch Capital completed the acquisition of United Guaranty, an American International Group subsidiary, for an undisclosed amount.
Alamo Group — The company increased its quarterly dividend to 10 cents per share from 9 cents per share.