Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Cree Stock Just Dropped 8%

TheMotleyFool

0 0

Cree (NASDAQ: CREE) stock is tumbling, getting pummeled 8.2% (as of 1:40 p.m. EST) after the company reported a bit of a sales beat last night...but an earnings miss, and a warning of worse earnings to come.

Yesterday after close of trading, Cree reported fiscal second-quarter 2020 sales of $239.9 million, or $3.5 million more than Wall Street analysts had predicted. Profits, however, went missing, with Cree reporting an "adjusted" loss of $0.10 per share, versus the expected $0.09 per-share loss.

Image source: Getty Images.

Source Fool.com

Like: 0

CREE

Share