Cree Inc. (CREE) raised its adjusted earnings guidance for the third quarter Tuesday morning to a range of $0.31 to $0.36 per share from the prior forecast in the $0.30 to $0.35 per share range. The company also raised its third-quarter revenue guidance to a range of $335 million to $350 million from the prior estimate between $325 million and $345 million. The consensus estimates are for EPS of $0.33 and revenues of $336.06 million.
Cree gapped up sharply Tuesday and climbed steadily until mid-morning. The stock ended the session higher by 6.44 at $51.16 on strong volume. Cree surged past the upper end of a 1-month trading range and set a new high for the year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.