Cree Inc. (CREE: Quote) reported second quarter adjusted EPS of $0.32 after the close Tuesday, up from $0.25 in the prior year period. The consensus estimate was for EPS of $0.30. Third quarter adjusted EPS is expected to be between $0.30 and $0.35, compared to the consensus estimate of $0.28.
Cree gapped up sharply Wednesday and climbed in early trade. The stock extended its gains around mid-afternoon and finished up by 7.38 at $40.85 on the highest volume of the year. Cree surged past resistance and set a new high for the year.
by RTT Staff Writer
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