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Cree (CREE +11.4%) raises its FQ3 guidance: the company now expects revenue of $335M-$350M and...
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Tuesday, March 5, 9:42 AM ETCree (CREE +11.4%) raises its FQ3 guidance: the company now expects revenue of $335M-$350M and EPS of $0.31-$0.36 vs. prior guidance of $325M-$345M and $0.30-$0.35, and a consensus of $336.1M and $0.33. Cree is also announcing new, aggressively-priced LED bulbs: Home Depot will sell a 40W-replacement bulb for $9.97, and 60W-replacements for $12.97 and $13.97. Shares are making new 52-week highs. Up in sympathy: RBCN +3%. AIXG +3.5%. GTAT +6%. VECO +5.5%. (PR)
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