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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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January 26, 2015
10:30 EDTCREEOptions with decreasing implied volatility
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January 23, 2015
10:15 EDTCREEOptions with decreasing implied volatility
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January 22, 2015
10:35 EDTCREEOptions with decreasing implied volatility
Options with decreasing implied volatility: CZR ACHN NFLX SN NBR TLM CREE BBY LNCO BBRY
January 21, 2015
10:47 EDTCREEOptions with decreasing implied volatility
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10:01 EDTCREEOn The Fly: Analyst Downgrade Summary
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10:01 EDTCREEOn the Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ashford Hospitality (AHT) upgraded to Outperform from Neutral at Credit Suisse... BAE Systems (BAESY) upgraded to Buy from Neutral at Goldman... Bazaarvoice (BV) upgraded to Outperform from Market Perform at Cowen... Becton Dickinson (BDX) upgraded to Outperform at Cowen... CVS Health (CVS) upgraded to Buy from Neutral at Goldman... Camden Property (CPT) upgraded to Outperform from Neutral at Credit Suisse... ConocoPhillips (COP) upgraded to Buy from Neutral at BofA/Merrill... Cornerstone OnDemand (CSOD) upgraded to Buy from Neutral at DA Davidson... Cree (CREE) upgraded to Overweight at Stephens... DDR Corp. (DDR) upgraded to Outperform from Neutral at Credit Suisse... EastGroup Properties (EGP) upgraded to Outperform from Neutral at Credit Suisse... Energy Transfer Partners (ETP) upgraded to Outperform from Neutral at Credit Suisse... Esperion (ESPR) upgraded at BofA/Merrill... Exxon Mobil (XOM) upgraded to Outperform from Market Perform at Wells Fargo... FXCM (FXCM) upgraded to Market Perform from Underperform at Keefe Bruyette... Fair Isaac (FICO) upgraded to Overweight from Equal Weight at Barclays... Golar LNG (GLNG) upgraded to Buy from Hold at Nordea... Gran Tierra (GTE) upgraded to Buy at Canaccord... Host Hotels (HST) upgraded to Outperform from Neutral at Credit Suisse... J.M. Smucker (SJM) upgraded to Overweight from Neutral at JPMorgan... Kilroy Realty (KRC) upgraded to Neutral from Underperform at Credit Suisse... Level 3 (LVLT) upgraded to Outperform from Market Perform at Wells Fargo... Lowe's (LOW) upgraded to Overweight from Equal Weight at Morgan Stanley... Michael Kors (KORS) upgraded to Outperform at Cowen... Netflix (NFLX) upgraded at Nomura... Regions Financial (RF) upgraded to Buy from Neutral at Guggenheim... Ruckus Wireless (RKUS) upgraded to Outperform from Market Perform at Northland... Santander Mexico (BSMX) upgraded to Neutral from Underperform at Credit Suisse... Scorpio Tankers (STNG) upgraded to Buy at Canaccord... Sprouts Farmers Markets (SFM) upgraded to Buy from Neutral at BofA/Merrill... Strategic Hotels (BEE) upgraded to Outperform from Neutral at Credit Suisse... The Medicines Co. (MDCO) upgraded to Outperform from Market Perform at Leerink... Whole Foods (WFM) upgraded at Sterne Agee... Wolseley (WOSYY) upgraded to Neutral from Underperform at Exane BNP Paribas.
09:16 EDTCREEOn The Fly: Pre-market Movers
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08:34 EDTCREE, CREECree downgraded to Sell from Underperform at CLSA
CLSA downgraded Cree to Sell to reflect the fierce competitive environment in LED and mix that may work against the company late in the year. Price target is $30.
07:40 EDTCREECree upgraded to Overweight at Stephens
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07:35 EDTCREECree upgraded to Overweight from Equal Weight at Stephens
Price target is $42.
January 20, 2015
18:30 EDTCREEOn The Fly: After Hours Movers
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16:09 EDTCREECree says LED lighting market still in early stages
Cree (CREE) CEO Chuck Swoboda said in the company's earnings release, "We made solid progress in Q2 with operating margin higher than targeted due to an improvement in gross margins in our lighting business. The market for LED lighting is still in the early stages, our new product pipeline is strong, sales momentum is building and our brand is growing in the market. As evidenced by our significant share repurchases in Q2, we believe we are on the right track to continue to grow the company and increase profits over the next several years." Cree peers include SemiLEDs (LEDS) and Acuity Brands (AYI). Cree shares are up 6% in after-hours trading to $34.40 after reporting better than expected Q2 results.
16:03 EDTCREECree sees Q3 EPS 21c-25c, consensus 21c
Sees Q3 revenue $395M-$415M, consensus $404.42M. Sees Q3 non-GAAP gross margin 33.5%+/-.
16:02 EDTCREECree reports Q2 EPS 33c, consensus 22c
Reports Q2 revenue $413.2M, consensus $412.12M.
15:48 EDTCREECreeJanuary weekly 32 straddle priced for 10.5% movement into Q4
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15:21 EDTCREENotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include IBM (IBM), consensus $5.41; Netflix (NFLX), consensus 45c; CA Technologies (CA), consensus 60c; Cree (CREE), consensus 22c; Woodward (WWD), consensus 46c; Fulton Financial (FULT), consensus 21c; Advanced Micro Devices (AMD), consensus 1c; Interactive Brokers (IBKR), consensus 6c; Pinnacle Financial (PNFP), consensus 53c.
14:58 EDTCREECree technical comments ahead of earnings
There has been a pause in the dominant downtrend that began in the fall of 2013 in recent weeks that has seen basing at the $30 area. That level is the key area to watch on the downside should news be more negative than traders appear to expect. A breakdown below the $30 level could lead to a test of the 52-week low at $27.25 that was hit during the October market lows last year. If there is a positive surprise, the stock has a great deal of work ahead to turn the trend even toward neutral on a longer-term basis. Resistance levels to watch as potential upside objectives are at $35.46 and $37.26 which is the high of the range prior to the bearish gap down from early October. It would take a move above the $40 area for the stock to be back on a more bullish price path. The shares have a history of volatile reactions around earnings events with price gaps which could exceed levels noted.
14:27 EDTCREECree January weekly 31 straddle priced for 9.9% movement into Q4
09:45 EDTCREE, CREECree estimates lowered ahead of Q2 report, says CLSA
CLSA lowered Cree estimates ahead of Tuesday's Q2 report following checks that indicate a lack of demand improvement in China LED demand. The analyst also sees risk to increased inventory build that could lead to a cut in fab utilization and reiterates its Underperform rating.
08:46 EDTCREECree January weekly volatility elevated into Q4 and outlook
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