I have a website that is reading news from other websites, and linking to those news by giving a little preview on my own site. But, having the Google Panda update, I'm scared of being penalized for having duplicate content. How can I keep that content without beeing penalized? Is it true that, by using the Quote Tags <q>, it is not taken under consideration by Google and simply left out (meaning neither being listed in search results, nor being penalized)?
That is a good initiative for content based site. As long as you have linkback to those sites there wont be any problem. However, look for the quality of the news sites where you get news from.
As long as you have a duplicate content, Google panda will affect your site. Just write unique content on your own to avoid it.
No matter how you deal with these articles, they always belong to someone else, and your site will be penalized unless you write unique content by yourself.