Today's Early Winners and Losers
Shares of Cree (CREE) fell in late trading Thursday after the semiconductor materials maker posted second-quarter net earnings of $17.7 million, or 23 cents a share, down from $27 million, or 35 cents a share, a year earlier. Earnings from continuing operations were $20.1 million, or 26 cents a share, matching analysts' mean estimate. Revenue rose to $105.6 million from $96.1 million a year earlier.
For the third quarter ending in March, Cree forecast earnings from continuing operations of 25 cents to 27 cents a share, including 3 cents in stock-compensation costs. The company targets revenue of $105 million to $110 million. According to Thomson First Call, analysts had projected earnings of 25 cents a share and revenue of $108.7 million. Cree shares fell $2.13, or 7.4%, to $26.50 after hours.
Molex (MOLX) posted better-than-expected fiscal second-quarter earnings and raised its full-year profit. The electronic components company reported net income of $58 million, or 31 cents a share, up from $52.2 million, or 27 cents a share, a year ago. Excluding a restructuring charge, earnings were 34 cents a share, topping analysts' mean estimate by a nickel. Revenue increased 7% to $697.3 million.
Molex projected third-quarter revenue of $690 million to $710 million, above analysts' projection of $676.3 million. The company expects earnings per share will be 28 cents to 30 cents. Wall Street sees earnings of 30 cents a share. For the full year, Molex now sees earnings of $1.15 to $1.19 a share and revenue of $2.725 billion to $2.8 billion. The company previously forecast full-year earnings of $1.07 to $1.12 a share and revenue of $2.675 billion to $2.75 billion. Shares rose $1.31, or 4.7% to $28.80 in late trading.Supertex (SUPX) shares tumbled after the company's third-quarter results missed estimates. Supertex earned $3.7 million, or 26 cents a share, in the December quarter, up from $2.3 million, or 17 cents a share, a year earlier. Revenue rose to $19.9 million from $14.9 million a year ago. Analysts expected earnings of 35 cents a share on sales of $21.7 million. The chip company also said Richard Siegel quit as executive vice president and as a member of the board to pursue other opportunities. Shares dropped $12, or 28%, to $31.25 in late trading.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV