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CREE

Cree, Inc.

5/25/2013, 5:17 AM ET

Quote & Headlines Market Currents StockTalk

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Wednesday, May 22, 7:57 AM CREE +3.5% premarket after an upgrade to Buy with $72 price target at Sterne Agee, the analysts saying their previous estimate cuts were too aggressive. "We overestimated the potential impact from Phillips flexing its muscles at lighting agents." Earlier, Digitimes estimated global LED lighting shipments to increase to 220M units in 2013 to account for 5.5% of the entire lighting market. Comment! [Tech, On the Move]
Tuesday, May 14, 7:30 AM Cree (CREE) is downgraded to Hold at Sterne Agee with price target lowered to $59. Shares -2.9% premarket. 1 Comment [Tech, On the Move]
Monday, April 29, 2:34 PM LED stocks outperform as the Energy Savings and Industrial Competitiveness Act gets introduced in the Senate. The bill, which provides incentives and mandates to get the federal government and businesses to adopt energy-saving technologies, doesn't feature loan program provisions that had led prior bills to draw heat from Congressional Republicans. Last year, Pres. Obama authorized $2B in spending on energy efficiency upgrades for federal buildings. CREE +2.4%. LEDS +15.9%. RBCN +2.2%. GTAT +6.8%. (bill text) (summary) 2 Comments [Tech, On the Move]
Wednesday, April 24, 9:11 AM Premarket gainers: BKI +26%. PBTH +11%. LL +7%. PSTI +5%.
Losers: VOCS -31%. UIS -20%. EW -19%. RES -13%. AWAY -9%. SCON -9%. JNPR -7%. SVU -7%. PNRA -6%. CREE -6%. Comment! [On the Move]
Tuesday, April 23, 5:22 PM Tech guidance roundup: 1) Juniper (JNPR) expects Q2 revenue of $1.07B-$1.1B and EPS of $0.22-$0.26, below a consensus of $1.11B and $0.27. Enterprise IT weakness blamed, telecom healthy. 2) Cree (CREE) expects FQ4 revenue of $365M-$385M and EPS of $0.34-$0.40 vs. a consensus of $367.6M and $0.37. Gross margin expected to be ~39.5%, up from FQ3s 38.8%. 3)RF Micro (RFMD) expects FQ1 revenue of $285M-$290M and EPS of $0.07-$0.08, largely above a consensus of $265.8M and $0.07. JNPR -6.4% AH. CREE -7.3%. RFMD -3.3%. (Juniper PR) (Cree PR) (RF Micro PR) Comment! [Tech, Earnings, On the Move]
Tuesday, April 23, 4:02 PM Cree (CREE): FQ3 EPS of $0.34 in-line. Revenue of $349M (+23% Y/Y) beats by $7.04M. Shares -2.4% AH. (PR) 2 Comments [Earnings, Breaking News, Tech, On the Move]
Tuesday, April 23, 10:50 AM A rising Veeco lifts all LED boats: Cree (CREE +3.2%) and Rubicon (RBCN +7.2%) are joining Aixtron and GT Advanced in benefiting from Veeco's Q1 bookings figures and relatively upbeat Q2 commentary, which comes just a week after LED names were hit hard by a Digitimes report about MOCVD equipment price cuts. Cree is making new 52-week highs, while Rubicon remains 43% below its 52-week high. The rally comes as Toshiba (TOSBF.PK) bolsters its LED chip ops by acquiring the chip-production assets of startup Bridgelux. 1 Comment [Tech, On the Move]
Tuesday, April 23, 12:10 AM Notable earnings after Tuesday’s close: AAPL, ACC, AMGN, AWAY, BCR, BRCM, CREE, DV, EW, FBC, FTI, HA, HBI, HLIT, HTS, IRBT, ITC, JNPR, LIFE, NBR, NFX, NSC, OI, OII, OMI, PACB, PLCM, PNRA, RFMD, RHI, T, UIS, USNA, VMW, WRB, YUM, ZIXI Comment! [Earnings]
Monday, April 22, 5:35 PM Notable earnings after Tuesday’s close: AAPL, ACC, AMGN, AWAY, BCR, BRCM, CREE, DV, EW, FBC, FTI, HA, HBI, HLIT, HTS, IRBT, ITC, JNPR, LIFE, NBR, NFX, NSC, OI, OII, OMI, PACB, PLCM, PNRA, RFMD, RHI, T, UIS, USNA, VMW, WRB, YUM, ZIXI Comment! [Earnings]
Wednesday, April 17, 11:01 AM Veeco (VECO -7.7%) and Aixtron (AIXG -5.6%) get hammered after Digitimes reports the companies slashed prices for single-wafer MOCVD LED manufacturing systems to ~$1.4M from ~$2M, and 30%-40% for multi-wafer systems, due to Chinese competition. The companies have already been struggling with weak equipment demand on account of overcapacity: Digitimes Research estimates MOCVD shipments will fall 46% this year to 148; Veeco is seen shipping 89 of them, and Aixtron 53. Cree (CREE -3.7%) and GT Advanced (GTAT -4.2%) are also selling off. 1 Comment [Tech, On the Move]
Monday, April 15, 6:04 PM Chinese LED firms are sitting on CNY5B ($807M) worth of inventory, and attempts to unload it could lead prices to dive in Q3, Digitimes reports. As Cree (CREE) can vouch, pricing has been bolstered this year by healthy LED lighting and TV demand, but 2H pricing visibility remains limited. Separately, Osram is launching a 40W-replacement LED bulb in Germany that will cost less than €10 ($13.05). Cree recently announced it would sell a 40W-replacement bulb through Home Depot for $9.97 in the U.S.; 60W-replacements will go for $12.97 and $13.97. 1 Comment [Tech]
Friday, April 12, 4:52 PM Philips (PHG) claims to have developed an overhead LED tube light that generates 200 lumens of light while consuming just 1W of power, half as much as today's offerings. If used in an LED light bulb, Philips thinks the underlying technology would enable a 60W-replacement bulb that consumes just 5W. Philips says it plans to commercialize the technology in 2015 - Cree (CREE), which last year announced a 200 lumen/watt LED for outdoor applications, will no doubt be watching closely. (Cree's new low-cost bulbs) 2 Comments [Tech, Consumer]
Tuesday, April 2, 2:40 PM Cree (CREE -2.3%) shares are pricing in near-perfect execution, LED lighting share gains, and minimal pricing pressure, argues Jefferies in a critical note that's pressuring the stock. The firm, which maintains an Underperform, is nudging its estimates higher, but its FY14 EPS forecast of $1.65 remains soundly below a $1.78 consensus. Cree remains up 54% YTD following a well-received FQ2 report and a March 5 guidance hike. Comment! [Tech]
Wednesday, March 6, 12:27 PM The sell-side has been showering Cree (CREE +1.4%) with love following yesterday's guidance hike and LED bulb announcement. Credit Agricole has made a two-notch upgrade to Outperform, and UBS (Neutral) thinks Cree's aggressive bulb pricing lowers "the residential LED ROI payback period to 2-3 years versus 4-5 years previously." It's also encouraged Cree is using its own LED chips in the bulbs, rather than inexpensive Chinese alternatives. 1 Comment [Tech]
Tuesday, March 5, 12:55 PM Midday top 10 gainers: ACUR +59%. HIMX +37%. MTG +25%. CREE +15%. APP +15%. ZOLT +15%. ASNA +14%. SNTS +14%. PKOH +14%. DYAX +13%.
Midday top 10 losers: IPXL -25%. RNIN -23%. DRWI -19%. REGI -17%. TELOZ -17%. SHIP -14%. CSUN -10%. SDT -10%. JCP -10%. PSTR -9%. Comment! [On the Move]
Tuesday, March 5, 9:42 AM Cree (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) Comment! [Tech, On the Move, Earnings]

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