SemiLEDS (LEDS +7.4%) gains in a bout of short covering after its FQ1 beat lowered Street...

|By:, SA News Editor

SemiLEDS (LEDS +7.4%) gains in a bout of short covering after its FQ1 beat lowered Street estimates today. Earnings dropped 48% Y/Y, as the company says it continues to face a challenging economy, higher expenses and weaker margins.