Streetlighting in Los Angeles illuminates Cree's growing role in the LED lighting market, but investors appear to be unimpressed.
Cree’s stock got hammered Thursday on Wall Street after the company announced revenue from its LED Products division is expected to decline 20% year-over-year and 13% sequentially to $174 million in the first quarter of fiscal 2015 due to “weaker global demand than originally targeted.” In preliminary estimates of financial results for its first fiscal quarter ended Sept. 28, Cree said it expects revenue for the quarter to be approximately $428 million. The report said the ...
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