Posts tagged “Cree”
LED lighting technology company Cree reported $415.1 million in revenue for the company's fiscal 2014 second quarter, a 20 percent increase compared to a year ago and enough to beat Wall Street estimates.
North Carolina State University will lead a group of six universities and 18 private-sector companies - including Durham-based Cree, ABB, RFMD and Vacon - in a new manufacturing innovation institute that President Barack Obama announced during his Wednesday visit to the Triangle.
LED manufacturer Cree is getting a $30 million boost from the federal government in the form of tax credits as part of an Energy Department effort to drive more jobs in "clean energy" manufacturing. The government says the credits will help Cree expand in Durham as well as at a plant in Wisconsin.
Sanofi executive Anne Whitaker joins Cree's board of directors; Cree expands its LED portfolio with a new 75-watt bulb; and N.C. State is using Cree bulbs to help a new residence hall meet LEED Silver certification standards.
Cree CEO Chuck Swoboda used the company's annual shareholders meeting to explain how low-cost LED lighting fits the company's long term strategy. WRALTechWire Insiders can read more about his comments.
Cree's latest revenue, earnings and margin forecast on Tuesday disappointed investors and shares tumbled in after-hours trading. But in a conference call with analysts, Chairman and CEO Chuck Swoboda spoke confidently about the company's surging sales, especially for its recently introduced LED bulbs for consumers. He sees these bulbs as helping Cree build its brand and expand its opportunities in the big markets: Commercial LED lighting.
New "buy" ratings from analysts at Goldman Sachs and Canaccord Equity spark a 16 percent run-up in Cree shares and ignite a blizzard of trades on Tuesday. Today, Cree has more good news - An Energy Star rating for its new LED bulbs and lower costs with rebates.
Cree CEO Chuck Swoboda offers some insight into how and where the company will grow - but not necessarily through acquisitions.
The U.S. Energy Department will help underwrite the cost of developing a new design for linking LED lights. Cree also must provide funding.
Cree announces its latest quarterly earnings today and perhaps will offer insight into just how well its new LED Bulbs are faring in the consumer market. To boost sales, Cree unleashed a barrage of "nostalgia is dumb" commercials over the weekend. Yes, that was Durham-based Cree advertising during NBA playoff games.
Even MSNBC's Jim Cramer has kind words for Cree after trashing it last June after Cree unveils its new $10 LED bulb earlier this week. The Skinny and WRAL's Monica Laliberte test it out - and we think its a bright idea, too. So does Wall Street. Now the big test consumers - will consumers buy?
Cree's new line of LED bulbs that the Durham-based company introduced Tuesday means new jobs for the Triangle. Cree already has hired 200 people to make the bulbs locally, and the LEDs are made in N.C. as well, a company executive says.
Cree Chairman and CEO Chuck Swoboda is in New York City today briefing analysts on what could be the breakthrough event for the Durham company in the consumer lighting market: A long-lasting LED bulb that costs $10. The news excites investors as Cree shares jump 7% in pre-market trading and finished up 14.4 percent for the day in heavy trading.
Shares in LED manufacturer Cree jumped more than 22 percent Wednesday to a new 52-week high of $41.20 in the wake of a strong earnings report on Tuesday. Two analyst firms raise their share target prices to $41 and $42.
In a conference call with Wall Street analysts, Cree Chairman and CEO Chuck Swoboda says "pretty broad-based growth" led to a financial report that exceeded Street expectations and triggered a 15-percent jump in Cree's shares. He also talks about driving more business by explaining more about what LED lighting can do.