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May 22, 2013  Wed 7:29 AM CT

NTAP: SEE CHART GET CHAIN FIND STRATEGIES

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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Using spreads to minimize risk

Last week we discussed the risk vs reward profile of a debit call spread in Wells Fargo (WFC). This week we will run thru the risk vs reward of selling a credit put spread to achieve the same exposure of that debit call spread.

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