Posts tagged “Cree”
Cree's earnings and revenue both topped Wall Street analysts' expectations Tuesday, sending shares up nearly 8 percent in after-hours trading. "We made solid progress," says Chair and CEO Chuck Swoboda.
Corporate suits never know what questions a Wall Street analyst will ask when discussing earnings. These guys are Randy Johnsons, not AAA journalists. Such was the case Tuesday evening when Cree's chair and CEO sat down for his give-and-take with men and women looking for any insight into the company's future. And as the call ended, he got a curve ball. Did he hit it out of the park?
Cree is entering the fast-growing smart phone market against competitor Philips, unveiling on Thursday a so-called smart bulb that can be controlled through various apps. The 60-watt LED bulb sells for just under $15.
Fresh from lining up a new $500 million line of credit on Friday, Cree on Monday filed patent and misleading advertising suits against a competitor and its Taiwan supplier on Monday in seeking to protect its LED lighting business.
Cree, which rattled investors with a less than bright earnings report and forecast last week, unveiled its promised new LED light bulb Tuesday. It's cheaper and looks more like traditional bulbs. Now, will it light up Cree stock?
Trending in the Triangle: Get the pulse of technology in the Triangle with the best in local technology, venture, biotech, and life science news on Thursday, Oct. 23, 2014 as curated by @WRALTechWire.
Cree on Thursday morning unveiled its latest advance in LED technology, saying it will "reduce system costs" for most lighting applications by 40 percent. The news comes after an earnings report this week led to a hammering of Creek stock with LEDs the big culprit.
Shares in LED manufacturer Cree plunged 10 percent to a 52-week low under $30 after its quarterly earnings report Tuesday. Not even news that Cree plans to introduce a new LED bulb dissuaded investors from dumping shares.
Cree joined a club on Thursday its investors don't like: "The 52-Week Low Club." A revenue warning from Cree sent investors scurrying for the exits early Thursday. Shares plunged 14 percent to a 52-week low of $34.20 and ended up down 12 percent for the day in extremely heavy trading.
A revenue warning from Cree sent investors scurrying for the exits early Thursday. Shares plunged 14 percent to a 52-week low of $34.20 after the Durham-based LED manufacturer said revenue would be "below prior guidance" for the quarter ending in September.
New GSK chairman; Lenovo stock pressure; FTC bitcoin crackdown; FAA to OK drones; Cree's new competition
In today's wrapup of life science and technology news: GSK is getting a new chairman in wake of the China bribery scandal, says The Times of London; Lenovo stock faces price pressure; FTC takes aim at bitcoins; FAA to OK drones for Hollywood; Cree's new competition from Philips.
SAS co-founder and billionaire Jim Goodnight steals the show at CED's Tech Venture with his cutting-edge humor, candid opinions and sage advice. Heard the joke about one refrigerator told the other over the Internet? And be sure to check out our photo slideshow from WRAL's Kelly Hinchcliffe.
Cree reported record income for its last fiscal year on Tuesday and forecast future revenue that didn't quite match analysts' expectations. The news sent Cree shares down in after-hours trading. But in a conference call with analysts, Chief Financial Officer Mike McDevitt dropped a hint that Cree is eyeing another market for growth. So what's Cree thinking?
Yahoo earnings fall; N.C. Solar Center's new name; Novartis-Google 'Glass' contacts; Cree expands; Sling's new devices
In today's Bulldog wrapup of technology and life science news: Yahoo takes a hit; N.C. Solar Center gets a new name; Novartis teams with Google for "Glass" contacts; Cree adds space; Sling's new devices.
China firms turn on IBM, EMC; Cree-Walgreens deal; Google removing some results; Nortel bankruptcy update
In today's Bulldog wrapup: Chinese firms are turning away from IBM, Oracle and EMC; Cree makes a deal with Walgreens; Google begins removing some search results in Europe; and Nortel's bankruptcy case drags on.
Cree just may be hard pressed to find a better way to display the sharpness, power and durability of its LED lighting than a just-unveiled project along side partner Musco Lighting. Cree LEDs - more than 51,000 of them - shine brightly on the new East Span of the majestic San Francisco-Oakland Bay Bridge.