IN THE NEWS TODAY
Reuters has learned that ZTE signed an agreement in principle that would lift a Commerce Department ban on buying from U.S. suppliers. The telecommunications equipment maker ceased major operations since the seven-year ban was imposed.
Russian President Vladimir Putin praised his counterpart in the U.S., saying that a decision by President Donald Trump to set up a meeting with North Korea is "brave and mature." Putin said he is expecting a "positive outcome" from the meeting. (CNBC)
* Secluded resort chosen for Trump-Kim summit in Singapore (AP)
* What Trump's newly softened tone on North Korea means for the summit with Kim (CNBC)
Attorney General Jeff Sessions defended an administration policy that has resulted in immigrant children being separated from their parents after crossing the border illegally. He said if people "don't want to be separated" then "they should not bring them with them." (Washington Post)
Rudy Giuliani, who has been serving as Trump's lawyer amid the Russia scandal, said special counsel Robert Mueller's team is trying to frame the president. He was speaking to the Globes capital market conference in Tel Aviv. (AP)
California, New Jersey, Iowa and Montana were among the states holding primary elections yesterday. California and New Jersey alone will play a massive role in whether the GOP can defend its House Majority. Here are the results. (CNBC)
Judge Aaron Persky, who gave former Stanford University swimmer Brock Turner a lenient sentence in rape case, was recalled from office today. He became the first California jurist recalled from the bench in 86 years. (USA Today)
Tesla (TSLA) shareholders struck down a proposal that would have forced the company to split up its chairman and chief executive roles, both of which are held by Elon Musk. They also struck down a proposal to remove three Tesla board members up for re-election this year. (CNBC)
* Tesla reveals plans for a new factory in Shanghai at shareholder meeting (CNBC)
CNBC has learned that GitHub was talking to Alphabet's Google (GOOGL) about a deal in recent weeks before it agreed to sell to Microsoft (MSFT) on Monday for $7.5 billion. GitHub founder Chris Wanstrath chose Microsoft because of his relationship with CEO Satya Nadella.
STOCKS TO WATCH
Ambarella (AMBA) reported adjusted quarterly profit of 13 cents per share, beating consensus estimates by four cents, while the camera component supplier also saw revenue beat forecasts. However, Ambarella also gave weaker-than-expected current quarter revenue guidance.
Tesla (TSLA) CEO Elon Musk said the automaker was "quite likely" to be building 5,000 Model 3 cars per week by the end of June. Musk made his comments at Tesla's annual shareholder meeting.
Honda (HMC) will begin selling its six-seat business jet known as the "Hondajet" in Japan next year, as it tries to expand the global market for the aircraft. It is currently sold in North America, Europe and the Middle East.
Northrop Grumman (NOC) won approval from U.S. regulators for its deal to buy rocket component supplier Orbital ATK (OA) for $7.8 billion.
Tronc's (TRNC) top shareholder — former chairman Michael Ferro Jr.'s Merrick Venture Management — has canceled its deal to sell its stake to McCormick Media. The fund said that McCormick had breached its obligations, although it did not detail what constituted that breach.
WATERCOOLER
Delaware has begun sports betting, becoming the first state to open sports gambling after a Supreme Court ruling expanded it beyond Nevada. Several other states are expected to follow, hoping to tap new gambling revenue. (WSJ)