This one has a lot of momentum behind it, I actually do work over at their RTP facility and the mood over there always seems to be upbeat and business appears to be going well. Watching for a pullback possibly to enter here although seems to be a lot of resistance in its near future.
LOS ANGELES, Jan 19 (Reuters) - Cree Inc (CREE.O) reported a record second-quarter profit on Tuesday, topping Wall Street estimates, as demand rose for LED lighting, sending the company's shares up 8.8 percent in extended trade.
The LED maker's quarterly net income was $33.8 million, or 32 cents earning per share, compared with $10.7 million, or 12 cents a share, a year ago.
Excluding one-time items, the company earned 38 cents a share, beating the 30 cents a share that analysts were expecting, according to Thomson Reuters I/B/E/S.
LED (light emitting diode) fixtures, which consume less energy and last longer than incandescent and fluorescent lights, are seeing more demand as costs for power generation and concerns about greenhouse gas emissions rise.
Cree shares rose 8.8 percent to $59 in after-hours trading after closing at $54.21 on Tuesday on the Nasdaq. (Reporting by Laura Isensee. Editing by Robert MacMillan)
PUTs for a possible gap down in the morning sounds good Looking at the earnings and trend, wouldnt it be a good trade as well to get CALLs for the mid term, maybe into FEB 60 CALL
yup it looks great. CREE at a 6 year high...wow . However the options premium is pretty pricey for me right now. but definitely this is a keeper on my watchlist