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Stock Market & Financial Investment News

News Breaks
January 22, 2013
14:57 EDTCREEEarnings Preview: Cree to report less than a week after two notch downgrade
Cree (CREE) is expected to report Q2 earnings after the close on Tuesday, January 22, with a conference call scheduled for 5:00 pm ET. Cree develops and manufactures lighting-class light emitting diode products, traditional lighting products and semiconductor products for power and radio-frequency applications... EXPECTATIONS: Analysts are looking for earnings per share of 30c on revenue of $331.2M. The consensus range is 26c-32c for EPS on revenue of $319.99B-$342.8B, according to First Call. In conjunction with its last earnings report, Cree guided to Q2 adjusted EPS of 27c-31c on revenue of $320M-$340M... LAST QUARTER: Cree reported Q1 adjusted EPS of 27c, narrowly beating the 26c consensus estimate. Q1 revenue, however, came in at $315.8M, which was shy of the consensus $317.89M projection. The company also said its overall backlog was stronger than it was at same point in the prior quarter, although added that its visibility is still limited and the macroeconomic environment remains a headwind... RESEARCH: After the market close last Wednesday, Jefferies downgraded Cree two notches to Underperform from Buy, citing overly optimistic expectations. Earlier that same day, Raymond James said Cree's recent share strength is not sustainable and that the firm believes its Q2 results will modestly disappoint. However, Cantor said it expects Cree to report stronger than expected Q2 results, but that the company's guidance could miss expectations. The next day, Maxim said it expects Cree to report strong Q2 results and that the firm sees upside to Q2 and Q3 consensus estimates... PRICE ACTION: Since the day after last quarter's report, shares of Cree have rallied over 27%. Year-to-date, shares are down nearly 2% and in afternoon trading ahead of tonight's report, Cree is down about 0.8% to $33.49.
News For CREE From The Last 14 Days
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October 17, 2014
06:28 EDTCREEIHS: LED smart bulb shipments to surpass 11M units in 2018, DigiTimes says
LED smart bulb shipments is expected to reach more than 11M units in 2018, reports DigiTimes, citing the IHS. Approximately 880,000 connected LED smart bulbs were shipped globally in 2013. Reference Link
October 16, 2014
13:39 EDTCREECree October weekly volatility elevated into Q1 and outlook
Cree October weekly call option implied volatility is at 77, November is at 56, December is at 45, January is at 47, March is at 45, compared to its 26-week average of 40 according to Track Data, suggesting larger movement into the expected release of Q1 results after the market close on October 21.
06:24 EDTCREELED lighting demand expected to be weak in Q4, DigiTimes reports
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October 15, 2014
06:26 EDTCREESeptember 7W LED bulb prices grow sequentially in China, DigiTimes reports
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October 14, 2014
06:25 EDTCREEReplacement of conventional lighting with LEDs picks up pace, DigiTimes says
The replacement of conventional lighting with LED has picked up pace in the United States and Europe as power utilities offer subsidies for LED lighting products and the EU lowers the RoHS Directive maximum mercury content, reports DigiTimes. According to industry sources in Taiwan, the average retail price for an Energy Star-certified LED light bulb in place of a 40W incandescent bulb in the US market is $3.99 and that for a 60W-equivalent LED light bulb stands at $5-$6. Reference Link
October 9, 2014
10:06 EDTCREECree calls active on renewed takeover chatter
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09:42 EDTCREERumor: Cree moves up on renewed takeover chatter
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06:34 EDTCREEGlobal LED lighting demand to grow 180%-190% by 2018, DigiTimes Research says
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October 8, 2014
11:20 EDTCREELighting Science Grp names Nesbit COO
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October 7, 2014
09:05 EDTCREECree achieves production milestone with U.S. DoD
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06:17 EDTCREENavigant: Market for LEDs in residential apps set to explode, DigiTimes says
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