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Cree Inc (CREE.OQ)

CREE.OQ on NASDAQ Stock Exchange Global Select Market

57.26USD
24 Jun 2019
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Latest Key Developments (Source: Significant Developments)

Cree Updates Q4 FY 2019 Financial Guidance
Tuesday, 11 Jun 2019 

June 11 (Reuters) - Cree Inc ::CREE UPDATES Q4 FY 2019 FINANCIAL GUIDANCE.SEES Q4 2019 GAAP LOSS PER SHARE $0.23 TO $0.27 FROM CONTINUING OPERATIONS.SEES Q4 REVENUE FROM CONTINUING OPERATIONS IN RANGE OF $245 MILLION TO $252 MILLION.SEES Q4 2019 NON-GAAP EARNINGS PER SHARE $0.08 TO $0.12 FROM CONTINUING OPERATIONS.Q4 EARNINGS PER SHARE VIEW $0.14, REVENUE VIEW $268.6 MILLION -- REFINITIV IBES DATA.UPDATE TO Q4 GUIDANCE IS IN RESPONSE TO DECISION BIS OF U.S. DEPARTMENT OF COMMERCE TO ADD HUAWEI TECHNOLOGIES TO "ENTITY LIST".UPDATE TO Q4 GUIDANCE IS ALSO DUE TO SOFTER THAN ORIGINALLY EXPECTED DEMAND FOR CO'S LED PRODUCTS.REVENUE FOR PRODUCTS AND MATERIALS ASSOCIATED WITH HUAWEI'S WIRELESS INFRASTRUCTURE BUILD-OUT WERE EXPECTED TO BE UP TO $15 MILLION IN Q4.CREE - PENDING ANY FURTHER GUIDANCE FROM BIS, CO DOES NOT EXPECT TO SHIP ANY ADDITIONAL PRODUCTS IN Q4 FOR HUAWEI BUILD-OUT.CREE - TO PROVIDE UPDATES FOR IMPACT OF BIS ACTION, INCLUDING ABILITY TO APPLY FOR AND OBTAIN LICENSES FROM BIS TO SHIP PRODUCTS TO HUAWEI GOING FORWARD.UPDATING Q4 GUIDANCE FOR ITS LED PRODUCTS BUSINESS DUE TO SOFTER THAN ORIGINALLY EXPECTED DEMAND AS GLOBAL TRADE UNCERTAINTIES PERSIST.CREE - SEES Q4 LED PRODUCTS REVENUE IS EXPECTED TO BE BETWEEN $113 MILLION TO $117 MILLION.SEES Q4 WOLFSPEED REVENUE IS EXPECTED TO BE BETWEEN $132 MILLION TO $135 MILLION.  Full Article

Cree To Sell Lighting Business To Ideal Industries, Inc.
Friday, 15 Mar 2019 

March 15 (Reuters) - Cree Inc ::PRESS RELEASE - CREE TO SELL LIGHTING BUSINESS TO IDEAL INDUSTRIES, INC..PROPOSED DEAL FOR APPROXIMATELY $310 MILLION BEFORE TAX IMPACTS.EXPECTS TO RECEIVE AN INITIAL CASH PAYMENT OF $225 MILLION.BASED ON AGREEMENT TO SELL CREE LIGHTING, IT WILL BE CLASSIFIED AS DISCONTINUED OPERATIONS AS OF FY19 3Q.BASED ON AGREEMENT TO SELL CREE LIGHTING, IT WILL BE CLASSIFIED AS DISCONTINUED OPERATIONS AS OF FY19 3Q.CREE IS UPDATING ITS GUIDANCE TO REFLECT CONTINUING OPERATIONS ONLY..CREE TARGETS REVENUE FROM CONTINUING OPERATIONS IN A RANGE OF $271 MILLION TO $277 MILLION FOR Q3.WOLFSPEED REVENUE IS TARGETED IN A RANGE OF $139 MILLION TO $141 MILLION FOR Q3.LED PRODUCTS REVENUE IS TARGETED IN A RANGE OF $132 MILLION TO $136 MILLION FOR Q3.CREE - HAS POTENTIAL TO RECEIVE TARGETED EARN-OUT PAYMENT OF ABOUT $85 MILLION BASED ON ADJUSTED EBITDA METRIC FOR CREE LIGHTING A 12-MONTH BEGINNING 2 YEARS AFTER DEAL CLOSE.GAAP NET LOSS FROM CONTINUING OPERATIONS IS TARGETED AT $14 MILLION TO $9 MILLION, OR $0.14 TO $0.09 PER DILUTED SHARE FOR Q3.EXPECTS TO INCUR GAAP IMPAIRMENT CHARGE ON CREE LIGHTING INTANGIBLE ASSETS, WHICH CHARGE WILL BE REFLECTED IN DISCONTINUED OPERATIONS IN Q3 RESULTS.NON-GAAP NET INCOME FROM CONTINUING OPERATIONS IS TARGETED TO BE IN A RANGE OF $0.14 TO $0.18 PER DILUTED SHARE FOR Q3.Q3 EARNINGS PER SHARE VIEW $0.17, REVENUE VIEW $396.5 MILLION -- REFINITIV IBES DATA.  Full Article

Cree Reports Q2 Non-GAAP EPS Of $0.23
Wednesday, 30 Jan 2019 

Jan 30 (Reuters) - Cree Inc ::CREE REPORTS FINANCIAL RESULTS FOR THE SECOND QUARTER OF FISCAL YEAR 2019.Q2 NON-GAAP EARNINGS PER SHARE $0.23.Q2 GAAP LOSS PER SHARE $0.02.Q2 REVENUE $413 MILLION VERSUS REFINITIV IBES ESTIMATE OF $408.8 MILLION.Q2 EARNINGS PER SHARE ESTIMATE $0.17 -- REFINITIV IBES DATA.SEES Q3 2019 GAAP LOSS PER SHARE $0.05 TO $0.12.SEES Q3 2019 REVENUE $385 MILLION TO $405 MILLION.Q3 EARNINGS PER SHARE VIEW $0.15, REVENUE VIEW $406.2 MILLION -- REFINITIV IBES DATA.  Full Article

Cree Inc - Co and STMicroelectronics NV Announce Multi-Year Silicon Carbide Wafer Supply Agreement
Monday, 7 Jan 2019 

Jan 7 (Reuters) - Cree Inc: :CREE AND STMICROELECTRONICS ANNOUNCE MULTI-YEAR SILICON CARBIDE WAFER SUPPLY AGREEMENT.CREE INC - AGREEMENT GOVERNS SUPPLY OF CO'S 150MM SILICON CARBIDE BARE AND EPITAXIAL WAFERS TO STMICROELECTRONICS.  Full Article

Cree And STMicroelectronics Says Multi-Year Silicon Carbide Wafer Supply Agreement
Monday, 7 Jan 2019 

Jan 7 (Reuters) - Cree Inc ::CREE SAYS CO AND STMICROELECTRONICS ANNOUNCE MULTI-YEAR SILICON CARBIDE WAFER SUPPLY AGREEMENT.CREE- AGREEMENT GOVERNS SUPPLY OF A QUARTER BILLION DOLLARS OF CREE'S ADVANCED 150MM SILICON CARBIDE BARE AND EPITAXIAL WAFERS TO STMICROELECTRONICS.  Full Article

Cree And Stmicroelectronics Announce Multi-Year Silicon Carbide Wafer Supply Agreement
Monday, 7 Jan 2019 

Cree Inc ::CREE AND STMICROELECTRONICS ANNOUNCE MULTI-YEAR SILICON CARBIDE WAFER SUPPLY AGREEMENT.AND STMICROELECTRONICS ANNOUNCE MULTI-YEAR SILICON CARBIDE WAFER SUPPLY AGREEMENT.  Full Article

Arrow Electronics Expands Distribution Agreement With Cree
Friday, 9 Nov 2018 

Nov 9 (Reuters) - Arrow Electronics Inc ::ARROW ELECTRONICS EXPANDS DISTRIBUTION AGREEMENT WITH CREE, INC.’S WOLFSPEED DIVISION.EXTENDED AGREEMENT INCLUDES WOLFSPEED'S RF AND POWER PRODUCTS.  Full Article

Cree Says Darren Jackson Was Appointed As Chairman By Board Of Directors
Monday, 22 Oct 2018 

Oct 22 (Reuters) - Cree Inc ::CREE ANNOUNCES ANNUAL SHAREHOLDERS MEETING ELECTION RESULTS.CREE INC - DARREN R. JACKSON WAS APPOINTED AS CHAIRMAN BY BOARD OF DIRECTORS.CREE INC - ROBERT A. INGRAM AND C. HOWARD NYE RETIRED FROM THEIR POSITIONS ON BOARD OF DIRECTORS, UPON EXPIRATION OF THEIR TERMS.  Full Article

Cree Q4 Non-GAAP Earnings Per Share $0.11
Tuesday, 14 Aug 2018 

Cree Inc ::CREE REPORTS FINANCIAL RESULTS FOR THE FOURTH QUARTER AND FISCAL YEAR 2018.Q4 NON-GAAP EARNINGS PER SHARE $0.11.Q4 GAAP LOSS PER SHARE $0.33.Q4 REVENUE $409 MILLION VERSUS I/B/E/S VIEW $399.7 MILLION.Q4 EARNINGS PER SHARE VIEW $0.08 -- THOMSON REUTERS I/B/E/S.SEES Q1 2019 REVENUE $395 MILLION TO $415 MILLION.SEES Q1 2019 NON-GAAP EARNINGS PER SHARE $0.10 TO $0.14.SEES Q1 2019 GAAP LOSS PER SHARE $0.09 TO $0.14.SEES Q1 2019 GAAP NET LOSS $0.09 TO $0.14 PER DILUTED SHARE.CREE - TARGETED Q1 EARNINGS REFLECT NEGATIVE IMPACT OF ABOUT $0.02 PER DILUTED SHARE FOR TARIFFS THAT WENT INTO EFFECT ON JULY 6.Q1 EARNINGS PER SHARE VIEW $0.12, REVENUE VIEW $414.6 MILLION -- THOMSON REUTERS I/B/E/S.  Full Article

Cree Announces CFO Transition Plan
Thursday, 7 Jun 2018 

June 7 (Reuters) - Cree Inc ::CREE ANNOUNCES CFO TRANSITION PLAN.EVP AND CFO MIKE MCDEVITT TO RETIRE UPON APPOINTMENT OF HIS SUCCESSOR.EVP AND CFO MIKE MCDEVITT TO RETIRE UPON APPOINTMENT OF HIS SUCCESSOR.COMPANY REAFFIRMS GUIDANCE FOR FOURTH FISCAL QUARTER OF 2018.Q4 EARNINGS PER SHARE VIEW $0.08, REVENUE VIEW $400.5 MILLION -- THOMSON REUTERS I/B/E/S.  Full Article

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Factbox: Global tech companies shun Huawei after U.S. ban

Global technology companies are cutting ties with China's Huawei Technologies Co Ltd after the U.S. government put the world's largest telecom equipment maker on a trade blacklist, citing national security concerns.