IN THE NEWS TODAY
President Donald Trump said North Korea is a "big problem," but assured Japanese Prime Minister Shinzo Abe, in a bilateral meeting ahead of today's G7 summit in Sicily, that issues surrounding the secretive state would be resolved. (Reuters)
At the G7 summit, Trump is expected to air concerns about what he calls unfair trade policies by other nations and the Paris climate change pact that obligates the U.S. to reduce greenhouse gas emissions. (USA Today)
Trump has reportedly reignited tensions with the EU after calling the Germans "very bad" for their trade surplus. German magazine Der Spiegel said the president vowed to block German car exports imports.
Trump is leaning toward maintaining sanctions against Russia that were adopted by the Obama administration in response to Moscow's alleged interference in the U.S. presidential election. (WSJ)
Jared Kushner, Trump's
A federal appeals court has rejected the president's request to reinstate his temporary ban on travelers from six
President Trump has ordered a review of leaks of sensitive information within his administration following concerns from British officials about intelligence sharing with the U.S. following the Manchester attack. (WSJ)
Republican Greg Gianforte won Thursday's special election for Montana's lone seat in the U.S. House, a day after being charged with allegedly assaulting a reporter. (NBC News)
Disney (DIS) chief Bob Iger confirmed the company received a threat from cybercriminals who claimed to have stolen the digital copy of a movie, but the studio believes the claims were false. (Variety)
STOCKS TO WATCH
Costco (COST) reported adjusted quarterly profit of $1.40 per share, 9 cents above estimates. Revenue also beat. Costco saw strong U.S. sales during the quarter, along with higher membership fees.
Lions Gate (LGF) beat estimates by 2 cents with quarterly earnings of 28 cents per share. Revenue also beat forecasts. The movie studio's results were helped by a strong performance for "La La Land."
GameStop (GME) came in 12 cents above estimates, reporting adjusted quarterly profit of 63 cents per share. The video game retailer also on revenue, helped by the popularity of the new Nintendo Switch console.
Ulta Beauty (ULTA) reported quarterly profit of $2.05 per share, well above estimates. Revenue also exceeded expectations. However, the beauty retailer issued guidance that fell largely below forecasts.
Deckers Outdoor (DECK) posted an unexpected profit of 11 cents per share, compared to estimates for a 6 cent loss. The Uggs maker beat on revenue and delivered strong full-year guidance.
UPS (UPS) was ordered to pay nearly $247 million in fines after a court ruled the delivery giant illegally shipped untaxed cigarettes in New York City and New York State. UPS plans to appeal.
LendingClub (LC) and former CEO Renaud Laplanche will face a shareholder lawsuit after a federal judge rejected bids to dismiss. The suit alleged they concealed material financial weaknesses.
Vice President Mike Pence delivers the commencement address at the U.S. Naval Academy at 10 a.m. ET. Meanwhile, Hillary Clinton delivers Wellesley College's commencement address at 10:30 a.m. ET.
Facebook CEO Mark Zuckerberg advocated the need to consider universal basic income for all Americans. During his Harvard commencement speech, he said, "It's time for our generation to define a new social contract." (CNBC)