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CREE

Cree

$28.19

0.03 (0.11%)

15:30
10/02/17
10/02
15:30
10/02/17
15:30

Cree calls outpace puts 10:1 as shares tick higher

Cree calls outpace puts 10:1 as shares tick higher. The stock up 11c to $28.30 on relatively light volume of 875K shares and small lots of Nov 29 calls trade for $1.21 before an 8.7K block prints for $1.30 on PCoast. More than 10K trade on the day and the bullish positions capture one earnings report in mid-October. 640 Nov 28 calls also changed hands. Total volume is 12K calls and 1K puts. The company appointed a new President/CEO last week and is due to present at a European Microwave Summit 2017 on 10/8.

CREE Cree
$28.19

0.03 (0.11%)

08/23/17
SPHN
08/23/17
DOWNGRADE
SPHN
Underweight
Cree downgraded to Underweight from Equal Weight at Stephens
08/23/17
08/23/17
DOWNGRADE
Target $16.5

Underweight
Cree downgraded to Underweight on valuation at Stephens
As previously reported, Stephens analyst Harsh Kumar downgraded Cree to Underweight from Equal Weight following the company's Q4 earnings report, noting that profitability for the core business remains under pressure. He also believes the new business levels for the Cree lighting business may represent a plateau and that the stock's current valuation is "unsustainable." Kumar cut his price target to $16.50 from $27.50 on Cree shares, which are down nearly 10% in pre-market trading to $20.85.
08/23/17
08/23/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Ultragenyx (RARE) downgraded to Hold from Buy at SunTrust, with analyst Edward Nash slashing his price target to $55 from $105 after the company reported negative topline data from the Phase III trial for Ace-ER for GNE myopathy. Nash is disappointed by this first major clinical setback for the company and removed Ace-ER from his valuation models. 2. Duluth Holdings (DLTH) downgraded to Market Perform from Outperform at Raymond James, with analyst Dan Wewer citing increasing industry challenges. Wewer is concerned about increasing promotional activity and aggressive pricing tactics by competitors. 3. Cree (CREE) downgraded to Underweight from Equal Weight at Stephens. 4. Washington Prime (WPG) downgraded to Underperform from Neutral at Boenning & Scattergood by analyst Floris van Dijkum due to a more expensive NAV relative valuation caused by the more than 6% sector outperformance in the current quarter. 5. Baozun (BZUN) downgraded to Hold from Buy at Deutsche Bank by analyst Eileen Deng citing valuation after the stock's 18% rise in the past six months. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/23/17
ROTH
08/23/17
NO CHANGE
Target $28
ROTH
Buy
Roth Capital remains a buyer of Cree on a potential Wolfspeed spinoff
Roth Capital analyst Craig Irwin notes that Cree reported essentially inline Q4 results, with Q1 guidance that primarily reflects increasing spend to support growth for Wolfspeed. The analyst reiterates a Buy rating on the shares for the significant value creation potential in a Wolfspeed spinoff, which would also allow increased focus on the core LED chips and components and lighting products businesses. Irwin also lowered his price target on the shares to $28 from $29.

TODAY'S FREE FLY STORIES

COP

ConocoPhillips

$70.59

-1.425 (-1.98%)

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  • 26

    Jul

FSUMY

Fortescue Metal

$0.00

(0.00%)

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PEP

PepsiCo

$112.95

0.23 (0.20%)

, DISH

Dish

$32.75

-0.84 (-2.50%)

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$112.95

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Dish

$32.75

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MTW

Manitowoc

$26.99

-0.52 (-1.89%)

, CAT

Caterpillar

$138.06

-2.68 (-1.90%)

20:00
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MTW

Manitowoc

$26.99

-0.52 (-1.89%)

CAT

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$138.06

-2.68 (-1.90%)

DE

Deere

$136.19

-1.41 (-1.02%)

GNRC

Generac

$52.40

-0.585 (-1.10%)

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CZR

Caesars

$11.63

0.075 (0.65%)

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19:25
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Conference/Events
Morgan Stanley telecom analyst to hold an analyst/industry conference call »

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CAAP

Corporacion America Airport

$9.87

0.08 (0.82%)

19:11
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RIO

Rio Tinto

$53.64

-0.36 (-0.67%)

19:08
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  • 10

    Sep

CDMO

Avid Bioservices

$4.46

-0.19 (-4.09%)

, IGT

International Game

$24.39

-0.5 (-2.01%)

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CDMO

Avid Bioservices

$4.46

-0.19 (-4.09%)

IGT

International Game

$24.39

-0.5 (-2.01%)

BGS

B&G Foods

$29.80

-0.2 (-0.67%)

AG

First Majestic

$7.44

-0.265 (-3.44%)

NFLX

Netflix

$400.24

4.32 (1.09%)

ROKU

Roku

$48.27

-0.52 (-1.07%)

AVEO

Aveo Pharmaceuticals

$2.85

-0.055 (-1.90%)

EOLS

Evolus

$25.08

-1.12 (-4.27%)

TRQ

Turquoise Hill

$2.94

0.11 (3.89%)

CARB

Carbonite

$38.40

-0.1 (-0.26%)

RDFN

Redfin

$23.99

0.46 (1.96%)

NAKD

Naked Brand Group

$4.95

-0.15 (-2.94%)

MTW

Manitowoc

$26.99

-0.52 (-1.89%)

AMZN

Amazon.com

$1,822.02

9.02 (0.50%)

03/08/13
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  • 16

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T

AT&T

$31.90

0.24 (0.76%)

18:58
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  • 24

    Jul

  • 09

    Aug

SBGI

Sinclair Broadcast

$29.10

-3.9 (-11.82%)

, TRCO

Tribune Media

$32.05

-6.55 (-16.97%)

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Sinclair Broadcast 'shocked and disappointed' by FCC Chairman Pai's statement »

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SBGI

Sinclair Broadcast

$29.10

-3.9 (-11.82%)

TRCO

Tribune Media

$32.05

-6.55 (-16.97%)

03/08/13
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  • 08

    Aug

  • 06

    Sep

DE

Deere

$136.19

-1.41 (-1.02%)

18:49
07/16/18
07/16
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Deere rating change  »

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CAT

Caterpillar

$138.06

-2.68 (-1.90%)

18:49
07/16/18
07/16
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Caterpillar rating change  »

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  • 30

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RIO

Rio Tinto

$53.64

-0.36 (-0.67%)

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  • 10

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NFLX

Netflix

$400.24

4.32 (1.09%)

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  • 16

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NFLX

Netflix

$400.24

4.32 (1.09%)

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  • 16

    Jul

IBM

IBM

$145.43

-0.48 (-0.33%)

, GRPN

Groupon

$4.70

0.025 (0.53%)

18:32
07/16/18
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18:32
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18:32
Periodicals
IBM seeks $166.5M in damages from Groupon in patent lawsuit, Bloomberg says »

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IBM

IBM

$145.43

-0.48 (-0.33%)

GRPN

Groupon

$4.70

0.025 (0.53%)

03/08/13
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  • 18

    Jul

LGF.A

Lionsgate

$25.33

-0.58 (-2.24%)

, LGF.B

Lionsgate

$23.85

-0.69 (-2.81%)

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LGF.A

Lionsgate

$25.33

-0.58 (-2.24%)

LGF.B

Lionsgate

$23.85

-0.69 (-2.81%)

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  • 09

    Aug

GNRC

Generac

$52.40

-0.585 (-1.10%)

18:30
07/16/18
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Generac rating change  »

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MTW

Manitowoc

$26.99

-0.52 (-1.89%)

18:29
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07/16
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18:29
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Manitowoc rating change  »

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NFLX

Netflix

$400.24

4.32 (1.09%)

18:27
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  • 16

    Jul

NFLX

Netflix

$400.24

4.32 (1.09%)

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  • 16

    Jul

FCPT

Four Corners Property Trust

$24.83

-0.06 (-0.24%)

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ASOMY

Asos

$0.00

(0.00%)

18:14
07/16/18
07/16
18:14
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18:14
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NFLX

Netflix

$400.24

4.32 (1.09%)

18:11
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  • 16

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