UP AFTER EARNINGS: Kohl's (KSS), up 6%. ALSO HIGHER: Micron (MU), up 7.5% after raising Q3 guidance, announcing a $10B repurchase plan and seeing positive analyst reactions to its analyst day that was held yesterday... Automakers including Ford (F), General Motors (GM) and Fiat Chrysler (FCAU) are up 1%-2% in pre-market trading after China agreed to lower its import duties on U.S. manufactured cars... Macy's (M), up 2% after Kohl's report and after Macy's shares were upgraded to Positive from Neutral at Susquehanna... Shares of Acacia Communications (ACIA) and Oclaro (OCLR), both suppliers to ZTE Corp. (ZTCOY), are up 4.5% and 1.7%, respectively, after The Wall Street Journal reported the U.S. and China have reached the broad outline of a deal to settle the controversy over ZTE that would lift the ban on U.S. companies selling components and software to the Chinese telecom company in exchange for major management changes and fines. DOWN AFTER EARNINGS: Dycom (DY), down 11%... Pure Storage (PSTG), down 7.5%... Toll Brothers (TOL), down 4%. ALSO LOWER: J. C. Penney (JCP), down 8% after announcing Chairman and CEO Marvin Ellison will resign from his role to pursue another opportunity with Lowe's (LOW), where he has been named president and CEO, effective July 2. Shares of Lowe's are up 3% following the news.
