Options Trading News

May 23, 2013  Thu 7:24 AM CT


Hewlett-Packard earned $0.87 a share in the second quarter, while analysts had only expected $0.81. Revenue missed, but management raised its full-year outlook as cost cuts boost profitability. The company is also shifting its focus toward corporate services and away from the shrinking PC market. HPQ surges 12 percent before the bell on my tradeMONSTER platform.

PetSmart earned $0.98 a share, beating the $0.96 average analyst estimate. Revenue missed for the quarter, but sales projections for the full year were raised. PETM climbs almost 3 percent in the premarket.

Pacific Sunwear of California reported first-quarter sales of $169.84 million, better than the $164.2 million consensus number. Outlook for the full year was also higher than expected, with revenue seen at $209 million to 219 million. PSUN climbs 14 percent in early trading.

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As I stated in last week's article, a break out or a break down needs to have a couple things happen before it is considered a confirmed break out or break down. The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

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