Options Trading News

April 9, 2013  Tue 7:29 AM CT

CEO Ron Johnson Gets the Boot

J.C. Penney announced the ouster of CEO Ron Johnson yesterday. The beaten-down retailer initially rallied on the news, but then brought back predecessor Mike Ullman. That has investors questioning the competence of the board, and JCP is down more than 6 percent before the bell on my tradeMONSTER platform.

Revenue Lifts Staar Surgical

Staar Surgical reported preliminary first-quarter revenue of $18 million, better than the $16.5 million expected by analysts. The maker of implantable eye lenses cited runaway growth in Europe. STAA surges 19 percent in early trading.

Special Dividend at Corrections Corp.

Corrections Corp. of America announced a special dividend of $675 million, or $6.63 a share. CWX, which closed at $37.97 yesterday, is advancing 4 percent on the news in premarket 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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