Cree Inc. (CREE) reported fourth quarter EPS of $0.04 after the close Tuesday, down from $0.19 a year ago. The result was in line with analysts' expectations. First quarter EPS is expected to be between $0.02 and $0.06. The consensus estimate is for EPS of $0.11.
Cree gapped open sharply lower Wednesday morning and is now down 2.11 at $20.92 on above average volume. The stock is now testing the lows of the year, trading at a 4-month low.
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