Cree Inc (CREE) is being hit with another downgrade this morning, this time from Brigantine Advisors (first I’ve heard of them) to a Sell rating due to valuation concerns. Hat tip to StreetInsider.com for the following analyst comment:
“Based upon our checks, we believe that demand and pricing for LEDs was very robust in the December quarter, and Cree likely enjoyed strong business trends. Seasonally strong demand from Notebook PCs and LED-backlit televisions appear to … Read the rest
Cree Inc (CREE) is holding up quite well despite a downgrade this morning from Morgan Joseph. The stock has been on a torrid run this year, so it’s not unusual for a few valuation downgrades to be issued. The firm downgraded CREE from Buy to Hold but raised estimates for this year and next. Hat tip to Street Insider for the following analyst comments.
“On Tuesday after the close of trading, we expect Cree to … Read the rest
Cree just announced that they have been awarded $39 million in tax credits as part of the Recovery Act Advanced Energy Manufacturing program. The tax credits will allow Cree to expand their business and hire more employees. Cree applied for the tax credits in October 2009.
In a press release, Michelle Murray, a spokesperson for the company, commented on the credits:
“This investment is part of Cree’s already-announced capital plans, and includes additional investments … Read the rest
Cree just announced that its LED fixtures have been chosen to illuminate the National Air and Space Museum’s new “Moving Beyond Earth” exhibit. The museum selected Cree’s LR24 recessed LEDs for the exhibit, which contains exhibits on human spaceflight and space shuttles. Cree’s LEDs will replace high intensity discharge work lights.
In a press release, Gary Trott, Cree VP of market development, commented on the news:
“The Air and Space Museum installation shows the … Read the rest
This post is brought to you by Michael Cintolo of Cabot Green Investor and republished with permission. Cabot Green Investor is one of the top green stock publications available.
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Today’s investment idea is all about lighting. No, it’s not those curly compact fluorescents that are filled with MERCURY and require you to evacuate the room if you break one. The main reason we’ve got those today is that the energy savings sounded … Read the rest
Cree just announced that they have signed an agreement with LED do Brasil Comercio de Produtos Eletronicos Ltda to help promote Cree’s LED products in Brazil, which is the 10th largest consumer of energy in the world.
In a press release, Vince Feorenzo, Cree sales director, explained more about the agreement:
“Led do Brasil will represent our LED components, from high-brightness to lighting-class XLamp® LEDs. We look forward to spreading the LED lighting revolution … Read the rest
Cree just announced that the company will be expanding its presence in China with a new manufacturing plant. Cree is purchasing a new 592,000 square foot facility in Huizhou, Guangdong Province, China. The facility will be used to produce chips (the first time Cree has produced chips overseas) and as a cornerstone for future expansion inside China.
In a press release, Chuck Swoboda, Cree chairman and CEO, commented on the company’s plans:
“This investment … Read the rest
Cree just announced that they have been selected to supply Walmart with LED light bulbs to be installed in new stores and in 650 existing stores that are being renovated. As part of the renovations in these stores, Cree LRP-38 LEDs are being installed in the produce and electronic sections to replace the existing ceramic metal halide lights.
In a press release, Neal Hunter, Cree LED Lighting president, commented on the news:
“Cree TrueWhite … Read the rest
Cree Inc (CREE) reported another strong quarter and is up in after hours trading as they continue to emerge as the top play in the LED lighting space. The company reported an EPS of .30/share which beat estimates by .08/share and represents a doubling of the year ago EPS number. Revenues also came in strong at $169 million and represents a 20% increase over the year ago quarter. The company sees next quarter EPS about … Read the rest
There were a few upgrades and downgrades of green stocks today, particularly in the solar space that I wanted to run through tonight.
Macquarie made a few calls in the solar space worth mentioning:
Yingli Green Energy (YGE) was upgraded from Neutral to Outperform. Shares finished up more than 5% and bounced off the 50 day moving average.
Sunpower (SPWRA) was upgraded from Underperform to Neutral. Shares finished up nearly 7% today and are nearing … Read the rest