On Wednesday, the LED industry was dragged down by a disappointing earnings report from Cree, Inc. The company reported revenues were $375 million for the fourth quarter of fiscal 2014, although up 22 percent year-over-year, it fell approximately $3.0 million short of analysts’ expectations. The company’s forecast for fiscal first quarter also disappointed as revenues are expected to be in the range of $380 million to $400 million, compared to the consensus estimate of $399 million from Thomson Reuters. Here is how some companies reacted to the new Wednesday:
Cree, Inc. (NASDAQ: CREE) shares traded in the range of $58.54 to $62.85 Wednesday before settling to close at $58.91, a decrease of 22.24 percent. The stock appears to be facing some resistance at the $61.14 and $63.58 levels with some support $58.38. Shares of Cree have gained approximately 70.0 percent in 2013.
More information on CREE and access to the free equity report can be found at:
SemiLEDs Corporation (NASDAQ: LEDS) shares traded in the range of $0.80 to $0.84 Wednesday before settling to close at $0.80, a decrease of 4.71 percent. The stock appears to be facing some resistance at the $0.81 and $0.86 levels with some support at $0.70. Shares of SemiLEDs have fallen nearly 40 percent in the past month.
More information on SemiLEDs and access to the free equity report can be found at:
Rubicon Technology, Inc. (NASDAQ: RBCN) shares traded in the range of $9.32 to $9.69 Wednesday before settling to close at $9.35, a decrease of 3.01 percent. The stock appears to be facing some resistance at $9.48 with some support at the $8.95 and $8.78 levels. Shares of Rubicon Technology have gained approximately 53.0 percent in 2013.
More information on Rubicon Technology and access to the free equity report can be found at:
Veeco Instruments Inc. (NASDAQ: VECO) shares traded in the range of $33.06 to $34.37 Wednesday before settling to close at $34.00, a decrease of 0.53 percent. The stock appears to be facing some resistance at the $34.24 and $35.31 levels with some support at $33.24. Shares of Veeco Instruments have gained approximately 15.0 percent in 2013.
More information on Veeco Instruments and access to the free equity report can be found at:
Wall Street Fundamentals offers our members a full range of investor services including in-depth equity reports on your favorite companies and timely market updates featuring the hottest stocks trending in the marketplace.
Activate your always free membership by signing up at www.WallStreetFundamentals.com today.
Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
Wall Street Fundamentals
Leave a comment...