New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 12, 2014
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.
News For CREE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 30, 2014
10:02 EDTCREEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ally Financial (ALLY) upgraded to Buy from Hold at Deutsche Bank... Banco Bradesco (BBD) upgraded to Overweight from Neutral at JPMorgan... Cree (CREE) upgraded to Neutral from Underperform at BofA/Merrill... Finish Line (FINL) upgraded to Overweight from Neutral at Piper Jaffray... Grand Canyon (LOPE) upgraded to Overweight from Neutral at Piper Jaffray... Hess Corp. (HES) upgraded to Outperform from Sector Perform at Howard Weil... Ignite Restaurant (IRG) upgraded to Market Perform from Underperform at Raymond James... Lowe's (LOW) upgraded to Buy from Neutral at Goldman... MakeMyTrip (MMYT) upgraded to Buy from Hold at Deutsche Bank... MicroStrategy (MSTR) upgraded to Overweight from Equal Weight at First Analysis... Moelis (MC) upgraded to Positive from Neutral at Susquehanna... PG&E (PCG) upgraded to Neutral from Sell at Goldman... RF Micro Devices (RFMD) upgraded to Buy at Canaccord... Ruckus Wireless (RKUS) upgraded to Equal Weight from Underweight at Morgan Stanley... STMicroelectronics (STM) upgraded to Neutral from Sell at UBS... Sealed Air (SEE) upgraded to Market Perform from Underperform at Wells Fargo... Software AG (STWRY) upgraded to Neutral from Underweight at JPMorgan... Southwest (LUV) upgraded to Neutral from Underweight at JPMorgan... Sprint (S) upgraded to Neutral from Underperform at Credit Suisse... SunPower (SPWR) upgraded to Buy from Hold at Canaccord... Take-Two (TTWO) upgraded to Buy from Hold at Brean Capital... TriQuint (TQNT) upgraded to Buy at Canaccord... Visa (V) upgraded to Outperform from Market Perform at FBR Capital... Whiting Petroleum (WLL) upgraded to Overweight from Equal Weight at Stephens.
06:10 EDTCREECree upgraded to Neutral from Underperform at BofA/Merrill
Subscribe for More Information
06:04 EDTCREEStocks with implied volatility below IV index mean; EWZ CREE
Subscribe for More Information
October 27, 2014
18:31 EDTCREECree raises share repurchase program to $550M
The board of directors of Cree approved an increase in the amount of the company’s stock repurchase program. Pursuant to the program, the company is now authorized to repurchase shares of its common stock having an aggregate purchase price not exceeding $550M for all purchases for fiscal 2015, from June 30, 2014 through June 28, 2015.
06:15 EDTCREEStocks with implied volatility below IV index mean; NFLX CREE
Subscribe for More Information
October 24, 2014
10:34 EDTCREESamsung confirms plans to exit LED lamps, Lighting says
Samsung (SSNLF) confirmed that it is exiting the global LED lamps business, according to industry site Lighting. The publication quotes the company as issuing the following statement: “We have decided to discontinue our LED lamp business in all markets, except Korea, so that we can focus more resources on our core business areas. We will remain active in the LED industry through our LED component business, and continue to provide high-quality products and services to our customers.” Philips’ (PHG) recent decision to split off its lighting division has been blamed, at least in part, on the commoditized nature of the consumer LED lamp market, Lighting added. Shares of Cree (CREE), whose products consist of both LED and traditional lighting systems, are up 1% in early trading following the news of Samsung's plans. Reference Link
06:14 EDTCREEStocks with implied volatility below IV index mean; XLNX CREE
Subscribe for More Information
October 22, 2014
10:09 EDTCREEOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
09:21 EDTCREEOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Dow Chemical (DOW), up 3.7%... iRobot (IRBT), up 12%... Six Flags (SIX), up 13%... GlaxoSmithKline (GSK), up 2%... Broadcom (BRCM), up 7%... Boston Scientific (BSX), up 4.3%... Abbott (ABT), up 1.8%... Yahoo! (YHOO), up 6%. ALSO HIGHER: Blue Earth (BBLU), up 26.4% after CEO says statements in Seeking Alpha blog are "false and misleading."... GW Pharmaceuticals (GWPH), up 5.4% after Epidiolex receives orphan designation from EMA. DOWN AFTER EARNINGS: 3D Systems (DDD), down 15%... Biogen (BIIB), down 7%... Lumber Liquidators (LL), down 13.4%... Norfolk Southern (NSC), down 3%... Angie's List (ANGI), down 8.8%. ALSO LOWER: Nanosphere (NSPH), down 33% after filing secondary, reporting preliminary Q3 revenue... Himax Technologies (HIMX), down 16% after announcing that Google (GOOG) will not exercise an additional investment option in the company... Cree (CREE), down 10.5%, downgraded at DA Davidson and Canaccord following the company's Q1 earnings results... Ocwen Financial (OCN), down 7% after downgraded to Hold at Evercore, downgraded to Neutral at BofA Merrill Lynch... VMware (VMW), down 7.8%, downgraded at Nomura and Raymond James following the company's Q3 results.
07:56 EDTCREECree downgraded to Hold at Canaccord
As reported previously, Canaccord downgraded Cree to Hold from Buy citing a lack of catalysts and lower guidance. Canaccord lowered its price target on Cree shares to $29 from $41.
07:42 EDTCREECree downgraded to Neutral from Buy at DA Davidson
Subscribe for More Information
05:56 EDTCREECree downgraded to Hold from Buy at Canaccord
Subscribe for More Information
October 21, 2014
18:36 EDTCREEOn The Fly: After Hours Movers
Subscribe for More Information
16:03 EDTCREECree sees Q2 EPS 20c-24c, consensus 39c
Subscribe for More Information
16:02 EDTCREECree reports Q1 adjusted EPS 24c, consensus 36c
Subscribe for More Information
15:30 EDTCREENotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Yahoo! (YHOO), consensus 30c; ACE (ACE), consensus $2.34; Discover Financial (DFS), consensus $1.34; Pinnacle Financial (PNFP), consensus 51c; Broadcom (BRCM), consensus 84c; Intuitive Surgical (ISRG), consensus $3.80; FMC Technologies (FTI), consensus 74c; Robert Half International (RHI), consensus 58c; E-Trade (ETFC), consensus 22c; Nabors Industries (NBR), consensus 36c; Waste Connections (WCN), consensus 54c; Cubist Pharmaceuticals (CBST), consensus 4c; Sonic (SONC), consensus 34c; American Campus Communities (ACC), consensus 43c; Cree (CREE), consensus 36c; Fulton Financial (FULT), consensus 20c; Costamare (CMRE), consensus 41c; Hawaiian Holdings (HA), consensus 78c; Ethan Allen (ETH), consensus 36c; Sabra Health (SBRA), consensus 55c; Rush Enterprises (RUSHA), consensus 51c.
15:25 EDTCREEEarnings Preview: Cree reports after pre-announcing Q1 miss
Subscribe for More Information
13:39 EDTCREECree technical comments ahead of earnings
Subscribe for More Information
13:06 EDTCREECree October weekly 33 straddle priced for 8.2% move into Q1
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

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use