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.