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Actionable news in DIS: THE WALT DISNEY COMPANY,

Stocks Hold at Highs as Disney Drives the Dow

Stocks hovered at session highs by midday Monday as Disney (DIS - Get Report) boosted the consumer sector to overshadow a selloff in crude.

The S&P 500 was up 0.4%, the Dow Jones Industrial Average added 0.34%, and the Nasdaq gained 0.32%.

Disney jumped more than 2% after Pivotal Research upgraded the stock to buy from hold and raised its price target to $121 from $104. Analysts said many investor concerns are already priced into the company's share price.

The world's largest entertainment company was also riding higher after its recent live-action remake, The Jungle Book, topped the North American box office over the weekend in one of the biggest April openings on record. The Jon Favreau-directed film opened with $103.6 million on U.S. and Canadian screens with 42% of domestic sales generated from 3-D and premium-format showings.

Weekend talks among members of the Organization of Petroleum Exporting Countries failed to culminate in a deal on a production freeze. Optimism over a deal had led oil prices to rally in recent weeks, though Iran had made clear it would not participate as it ramps up output to pre-sanction levels. In February, Saudi Arabia, Qatar, Venezuela, and non-OPEC member Russia had agreed to freeze output levels if...