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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
Check below for free stories on CREE the last two weeks.
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August 21, 2014
09:51 EDTCREEChina denies plans for raising LED tariffs, LEDinside reports
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August 18, 2014
10:57 EDTCREEOptions with decreasing implied volatility
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06:06 EDTCREECree implied volatility of 28 at lower end of index mean range
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August 14, 2014
06:08 EDTCREECree implied volatility of 30 at lower end of index mean range
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August 13, 2014
10:01 EDTCREEOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: CSR (CSRE) downgraded to Hold from Buy at Jefferies... Celadon Group (CGI) downgraded to Equal Weight from Overweight at Stephens... Cree (CREE) downgraded to Hold from Buy at Summit Research... Crestwood Equity (CEQP) downgraded to Underweight from Equal Weight at Barclays... Intrepid Potash (IPI) downgraded to Sell from Hold at BGC Financial... JDSU (JDSU) downgraded to Neutral from Buy at B. Riley... King Digital (KING) downgraded to Equal Weight from Overweight at Barclays... Marin Software (MRIN) downgraded to Neutral from Buy at Goldman... Mosaic (MOS) downgraded to Sell from Hold at BGC Financial... Potash (POT) downgraded to Sell from Hold at BGC Financial... Regado Biosciences (RGDO) downgraded to Market Perform from Outperform at Cowen... Southern Company (SO) downgraded to Underweight from Equal Weight at Morgan Stanley... StarTek (SRT) downgraded to Equal Weight from Overweight at First Analysis... Tuniu (TOUR) downgraded to Neutral from Outperform at Credit Suisse.
09:15 EDTCREEOn The Fly: Pre-market Movers
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08:17 EDTCREECree price target lowered to $64 from $77 at Canaccord
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08:12 EDTCREECree downgraded to Hold from Buy at Summit Research
Summit Research downgraded Cree to Hold following the Q4 report and guidance citing gross margin pressures. Price target is $40.
07:01 EDTCREE, CREECree downgraded to Underperform from Outperform at CLSA
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August 12, 2014
19:02 EDTCREEOn The Fly: After Hours Movers
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16:24 EDTCREECree down 7% after reporting Q4 results and guidance
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16:05 EDTCREECree sees Q1 EPS 40c-45c , consensus 46c
Sees Q1 revenue $440M-$465M, consensus $469.78M. Sees Q4 non-GAAP gross margin to be 37.5%+/-.
16:03 EDTCREECree reports Q4 EPS 42c, consensus 41c
Reports Q4 revenue $436M, consensus $444.11M. Reports Q4 non-GAAP gross margin 37.9%.
15:53 EDTCREECanaccord to hold a conference
34th Annual Growth Conference to be held in Boston on August 13-14.
15:39 EDTCREECree August 49 straddle priced for 8.7% move into Q4
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15:23 EDTCREENotable companies reporting after market close
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14:54 EDTCREECree technical comments ahead of earnings
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14:35 EDTCREEEarnings Preview: Cree upgraded at Gabelli, Oppenheimer since last report
Cree (CREE) is expected to report fourth quarter earnings after the close on Tuesday, August 12, 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 41c on revenue of $444.11M. The consensus range is 38c-43c for EPS on revenue of $435.0M-$448.2M, according to First Call. Last quarter, Cree said it expects Q4 EPS of 38c-44c on revenue of $430M-$460M. The company also forecast its non-GAAP gross margin to be near 37.5% in Q4. LAST QUARTER: Cree reported third quarter EPS of 39c, beating the consensus estimate by 1c. Revenue last quarter came in at $405.3M, which fell short of the consensus $407.3M projection. STREET RESEARCH: On the day after Cree's last quarterly report, Summit Research upgraded the stock to Buy from Hold and placed a $65 price target on the stock. That same day, analysts at Goldman said Cree reported a "solid" Q3 and that they were encouraged by the company's top-line trends. The firm said at that time that they continued to believe Cree's potential leverage was unappreciated and maintained a Buy rating on the stock, but the firm lowered its price target on Cree shares to $66 from $72. On May 8, Gabelli upgraded Cree to Buy from Hold, citing valuation and its leading position in the LED lighting space. On July 3, Cree was upgraded to Outperform from Perform at Oppenheimer. The firm, which placed a $59 price target on the stock, said the company is the best pure play on LED lighting adoption and that it viewed the shares as undervalued at its levels at that time. PRICE ACTION: Over the last three months, Cree shares have rallied over 6%. However, the stock is down more than 21% year-to-date. In afternoon trading ahead of tonight's report, Cree is down more than 1% to $49.08.
August 11, 2014
08:48 EDTCREECree August volatility elevated into Q4 and outlook
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