Extremely Volatile Plays Today: CREE, ACUR, ACRX, SNTS
Los Angelas, CA -- (SBWIRE) -- 03/05/2013 -- Cree Inc. (NASDAQ: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 open sharply higher Tuesday and is now up 4.62 at $49.34 on above average volume. The stock has broken out of a 1-month trading range and has set a new high for the year.