For me, it's not what the news announcements are.
It's more how the market reacts to it.
Steve Jobs Health for example. Everyone knows his situation but the market Jan14th crushed AAPL (-7 to -9%)afterhours. Did his health have anything to do with the companies STerm/MedTerm fundamentals???
Nope and the next morning I opened a collar position (filled $80.91, B2O .QAASP JUL80 Puts, Selling out monthly 95 Calls against.)
You have to take advantage of certain news events "REACTIONS" to find some really good opportunities.