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Cree Inc. (CREE) Is Up After Q1 Earnings Topped Expectations

Cree Inc. (CREE) reported first quarter adjusted EPS of $0.22 after the close Tuesday, which exceeded the consensus estimate of $0.12. The company expects to report second quarter EPS of $0.15 to $0.19. Street expectations are for EPS of $0.13. The stock is now up 2.25 on 551K shares.

Cree climbed during the first half hour of trade Tuesday, before settling into a range. The stock ended the day with a gain of 2.52 at $37.54. Cree broke out to a 2-week high.

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