Cree Inc.
shares dropped in the extended session Tuesday after the LED maker's outlook fell short of Wall Street estimates. Cree shares fell 9% after hours, following a 0.1% decline in the regular session to close at $58.24. Cree expects a fiscal first-quarter loss of 7 cents to 3 cents a share on revenue of $237 million to $243 million, while analysts had forecast earnings of 15 cents a share on revenue of $259.2 million. The company reported a fiscal fourth-quarter loss of $133.
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