Updated Oct. 23, 2013 at 4:23 p.m.

Premium Lock Cree shares plunge 20% after earnings report; 2 analysts cut rating

Published: 2013-10-22 16:14:00
Updated: 2013-10-23 16:23:03

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Cree's $10 LED bulb   Cree's $10 LED bulb

Cree reports revenues of $391 million and earnings of 39 cents per share, both figures topping Wall Street analysts' expectations by a considerable margin. However, investors expected higher numbers for the current quarter. Shares opened sharply lower Wednesday, and two analysts cut their ratings on the stock....

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