More on Cree (CREE): FQ3 misses across-the-board on declining revenue. Adjusted net income declined 50% Y/Y, despite being offset by better cost controls and a large tax benefit. The company also warns for FQ4, now seeing its EPS coming in around $0.20 - $0.26 per share on revenue between $295M - $315M. Street estimates were for an EPS of $0.28 on revenue of $323M. Shares -6.3% AH.