Market News

May 22, 2013  Wed 7:29 AM CT

Traders Look Past Mixed Results

NetApp issued mixed quarterly results, with earnings better than expected but revenue missing. Guidance was also weak, but the big news was a doubling of the current share buyback plan to $3 billion and the implementation of a quarterly dividend. NTAP gains 6 percent before the opening bell on my tradeMONSTER platform.

Saks Rallies on Hope of Potential Sale

The New York Post reported that luxury retailer Saks hired Goldman Sachs to a advise on a potential sale of the company. That has SKS higher by more than 18 percent in early trading.

Lowe's Earnings, Revenue Miss Estimates

Lowe's earned just $0.49 a share in its first quarter, missing the $0.51 average analyst estimate. Sales of $13.09 billion also trailed the $13.46 billion consensus number. LOW falls 2.5 percent in the premarket.

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Education & Strategy

Using puts to BUY stock

Puts are an options contract that gives buyers the right to sell their stock for a set price on or before a future date. However, puts can also be an effective way to BUY stock.

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