News For CREE From The Last 14 Days Check below for free stories on CREE the last two weeks.
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May 24, 2012
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| 09:55 EDT |  | CREE |
| | 08:19 EDT |  | CREE |
| theflyonthewall.com: | Cree initiated with an Equal Weight at Stephens | | Target $35. :theflyonthewall.com |
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May 23, 2012
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| 13:17 EDT |  | CREE |
| | 12:37 EDT | | CREE |
| theflyonthewall.com: | Cree comparison to First Solar not apples to apples, says Piper Jaffray | | Piper Jaffray believes comparisons made between Cree (CREE) and First Solar (FSLR) are not apples to apples and it reiterates an Overweight rating on Cree shares. The firm said Cree is not a low cost supplier like First Solar, but a technology leader in LED lighting. Piper adds that Cree can switch to sapphire without having to scrap its downstream capacity should the technology advance. The Fly notes Cree shares are down 5.6% to $25.66 after Wunderlich this morning called the company the First Solar of LED lighting. :theflyonthewall.com |
| | 12:18 EDT |  | CREE |
| theflyonthewall.com: | On The Fly: Midday Wrap | | Stocks on Wall Street were lower by about 1.5% at midday, following the lead of markets in Europe and Asia. The weakness is again being attributed to growing concern over Greece and its ability, and possibly willingness, to remain in the euro. The market essentially ignored the better than expected U.S. new home sales data and the home price index report and instead continued the down trend which began a few weeks ago... ECONOMIC EVENTS: In the U.S., new home sales increased 3.3% in the month of April to a 343K annual rate, versus expectations of an increase of 2.1%. The House Price Index showed an increase of 0.5% for the month of March, versus expectations of an increase of 0.3%. In Europe, equities slumped badly and the euro tumbled to its lowest level versus the dollar since August 2010 ahead of an informal summit meeting Wednesday night planned by European leaders. Expectations are that German Chancellor Angela Merkel will hold a hard line against mounting pressure to consider joint eurobonds. In Asia, stocks fell as well, as the World Bank cut its grow forecasts for the Asia-Pacific region, including China, to 7.6% for 2012 compared to 8.2% last year... COMPANY NEWS: Shares of Dell (DELL) plunged $2.66, or 17.64%, to $12.42 after the company reported weaker than expected Q1 results and guided to Q2 revenue below consensus. The company's commentary on the challenging economic backdrop and how consumers have moved toward mobile devices and away from traditional PCs sunk peers as well, including Hewlett-Packard (HPQ), which is due to report after the close... MAJOR MOVERS: Among the notable gainers were PetSmart (PETM), up about 11%, following its "beat and raise" report, and Expedia (EXPE), up nearly 5%, after Piper Jaffray said in a note to investors that it raised it price target on shares, citing impressive growth in the number of people visiting the company's European website last month. Noteworthy losers included Qihoo 360 (QIHU), down almost 8%, following its quarterly report and the appointment of a new co-CFO, and Cree (CREE), down another 6%, as it slid for a second straight day and a Wunderlich analyst drew parallels between Cree and troubled solar energy company First Solar (FSLR)... INDICES: Near noon, the Dow was down 182.43, or 1.46%, to 12,320.38; the Nasdaq was down 42.45, or 1.50%, to 2,796.63; and the S&P 500 was down 19.17, or 1.46%, to 1,297.46. :theflyonthewall.com |
| | 10:38 EDT |  | CREE |
| theflyonthewall.com: | Cree retreats after being called First Solar of LED space | | Shares of LED lighting maker Cree (CREE) are sinking after Wunderlich analyst Theodore O'Neill identified similarities between Cree and troubled solar energy company First Solar (FSLR). The solar energy's stock has tumbled 88% over the last year. In a note entitled, "Is Cree the First Solar of the LED World?," O'Neill notes that both Cree and First Solar have historically relied on raw materials that nobody else uses to make their products. First Solar utilizes cadmium and tellurium, while its competitors use polysilicon. Cree uses silicon carbide and its competitors utilize sapphire. First Solar lost its upper hand when polysilicon got cheap, and now sapphire - the material used by Cree's competitors - is also getting less expensive, O' Neill writes. In mid-morning trading, Cree dropped $1.23, or 4.53%, to $25.97. :theflyonthewall.com |
| | 09:38 EDT |  | CREE |
| | 09:38 EDT |  | CREE |
| theflyonthewall.com: | LED industry seeds high capacity utilization rates in Q2, DigiTimes says | | Q2 LED prices have been flat while demand and capacity remain high, reports DigiTimes. Citing industry sources, the overall fall of ASPs in 2012 may be less than 20%. Reference Link :theflyonthewall.com |
| | 08:28 EDT | | CREE |
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May 22, 2012
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| 15:44 EDT | | CREE |
| theflyonthewall.com: | Cree CFO departure not a reflection on fundamentals, says Goldman | | Goldman said the resignation of Cree's CFO ha no implications on financials or the company's near-term outlook. Shares are Buy rated with a $35 price target. :theflyonthewall.com |
| | 12:22 EDT | | CREE |
| | 12:04 EDT | | CREE |
| | 10:58 EDT | | CREE |
| | 10:28 EDT | | CREE |
| | 09:00 EDT | | CREE |
| theflyonthewall.com: | Cree falls 4.2% | | Cree is down 4.2%, or $1.22, to $27.87 :theflyonthewall.com |
| | 08:58 EDT | | CREE |
| theflyonthewall.com: | Cree drops after CFO resignation announcement, support at $27.04 pivot | | :theflyonthewall.com |
| | 08:37 EDT | | CREE |
| theflyonthewall.com: | Cree volatility flat as shares trend lower on CFO resignation | | Cree (CREE) overall option implied volatility of 59 is near its 26-week average of 60 according to Track Data, suggesting non-directional price movement into its CFO resigning to become CFO at Extreme Networks (EXTR). :theflyonthewall.com |
| | 08:33 EDT | | CREE |
| theflyonthewall.com: | Cree announces CFO transition | | Cree announced that John Kurtzweil has resigned as executive vice president-finance and CFO, effective May 21, to pursue other opportunities, and that Michael McDevitt has been appointed CFO on an interim basis. Cree has commissioned a search for a replacement through Russell Reynolds Associates, executive search consultants. :theflyonthewall.com |
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May 18, 2012
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| 10:27 EDT | | CREE |
| theflyonthewall.com: | On The Fly: Analyst Initiation Summary | | Today's noteworthy initiations include: Acorda Therapeutics (ACOR) initiated with a Sell at Goldman... Bristol-Myers (BMY) initiated with an Outperform at BMO Capital... Corning (GLW) initiated with a Neutral at Susquehanna... Cree (CREE) initiated with a Positive at Susquehanna... Exactech (EXAC) initiated with a Buy at Benchmark Co... Hawaiian Holdings (HA) initiated with an Outperform at Imperial Capital... Mattel (MAT) initiated with a Buy at SunTrust... Merck (MRK) initiated with a Market Perform at BMO Capital... Micron (MU) initiated with a Buy at ThinkEquity... SanDisk (SNDK) initiated with a Hold at ThinkEquity... Spansion (CODE) initiated with a Buy at ThinkEquity... Dendreon (DNDN) initiated with a Sell at Maxim. :theflyonthewall.com |
| | 06:08 EDT | | CREE |
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May 16, 2012
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| 12:19 EDT | | CREE |
| | 10:04 EDT | | CREE |
| | 09:50 EDT | | CREE |
| | 09:38 EDT | | CREE |
| theflyonthewall.com: | Cree subsidiary to supply outdoor lighting for Wal-Mart, Journal Times reports | | Ruud Lighting, a subsidiary of Cree (CREE), has won a contract to become Wal-Mart's (WMT) new outdoor lighting supplier, according to the Journal Times. Reference Link :theflyonthewall.com |
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