Cree Inc Stock Dives After Weak Earnings

Shares of Cree Inc. (CREE) dropped more than 15% in late trading after the manufacturer of light emitting diode (LED) products reported fiscal Q2 earnings of $0.55 per share, $0.03 worse than the Thomson Reuters (TRI) consensus of $0.58. The company also missed on revenues. Despite a rise of 28.8% on a year-over-year basis revenues came [...]