Today's Research Reports on Stocks to Watch: Cree and HP Inc.
NEW YORK, NY / ACCESSWIRE / August 25, 2017 / Not only did HP reveal its fourth straight quarter of seeing its profits rise on Wednesday, but the company also announced a partnership with Deloitte where they will be teaming up on 3D printing and digital manufacturing services. Cree's shares saw a gain after a beat in its fourth quarter report but laid out a dismal outlook for the first quarter compared to what the Street was waiting for.
RDI Initiates Coverage on:
Cree, Inc.
https://rdinvesting.com/news/?ticker=CREE
HP Inc.
https://rdinvesting.com/news/?ticker=HPQ
Cree, Inc.'s shares closed up 5.18% on Thursday on nearly 2 million shares traded. The worldwide manufacturer and marketer of lighting-class LEDs, just celebrated its 30 year anniversary yesterday. Earlier in the week the North Carolina-based company reported its fiscal fourth quarter results and saw shares drop subsequently after. In the fourth quarter, CREE said it lost 6 cents a share. It also said it earned EPS of 4 cents after being adjusted or one-time items and revenue of $359 million. Wall Street had been expecting 4 cents a share on revenue of $350 million. While the results were ahead of what analysts had been waiting for, the outlook for the first quarter was a little disappointing. For the fiscal first-quarter 2018, the company has forecast revenue in a range of $353 million to $367 million, and adjusted earnings of 2 cents to 6 cents a share. Analysts were waiting for EPS adjusted of 11 cents with revenue of $361 million.
Access RDI's Cree, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=CREE
HP Inc.'s shares closed up 2.92% on Thursday and hit a new high of $19.78 during intra-day trading. Volume was staggering at a little over 27 million shares traded compared to an average of just around 10 million. The company reported its fiscal third quarter financial results on Wednesday. It was the fourth straight quarter that the company posted a rise in profits. Total revenues for the third quarter increased 9.8% year over year to $13.060 billion. This easily beat the Zacks Consensus Estimate of $12.077 billion. Non-GAAP earnings from continuing operations of 43 cents per share was also ahead of the Zacks Consensus Estimate of 42 cents. In other exciting news, HP also announced that it and Deloitte will be collaborating to implement HP's 3D-printing systems at a large scale.
Access RDI's HP Inc. Research Report at:
https://rdinvesting.com/news/?ticker=HPQ
Our Actionable Research on Cree, Inc. (NASDAQ: CREE) and HP Inc. (NYSE: HPQ) can be downloaded free of charge at Research Driven Investing.
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