3M Stock Soars on Reported Earplugs Settlement. $5.5 Billion Is a Win for Investors.

3M has reached a tentative agreement to pay over $5.5 billion to settle claims from military service members who suffered hearing loss or tinnitus due to defective earplugs sold to the U.S. military, potentially ending a years-long legal dispute.

Stocks inched higher on Monday morning as investors awaited a busy week of economic data, with individual stocks such as 3M, XPeng, and Rite Aid making headlines. 3M's potential $5.5 billion settlement with veterans over faulty earplugs could be a positive catalyst for the stock, while XPeng's acquisition of DiDi Global's electric car development business boosted its shares. Rite Aid, on the other hand, faced bankruptcy planning amid ongoing legal issues.