Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : John, Mike & Tom's Wild World of Stocks -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (831)	4/13/2000 11:06:00 AM
From: John Pitera	Read Replies (1) \| Respond to of 2850

CREE- Specialized Semi stock--Kirk has been talking about it. Wit SoundView Ups Cree Inc. Ahead Of Earnings by Charles Rotblut, CFA Senior Analyst/Contributing Editor Stock of the Hour Apr 12 2000 1:30PM CST Archives... John Lau of Wit SoundView raised his rating on Cree Inc. {CREE} to a "strong buy" this morning - just one day ahead of the company's third quarter earnings report. CREE is expected to report quarterly earnings of $0.21 tomorrow morning before the start of trading. The stock is currently trading up 4-1/4 at 110 and appeared in the 2:20 p.m. EDT ProSearch run of Great Earnings, Sales, and Cash Flow Growth. Mr. Lau cited the Nitres acquisition as a move towards solidifying the company's position as "a leader in the Compound Semiconductor industry" and noted that an upside revenue and earnings surprise could occur when the company releases its fourth quarter report in June. The stock is well liked by analysts with four rating the stock a "strong buy" (including today's upgrade) and three rating the stock a "buy". CREE is one of several technology stocks to have been hit hard by the Nasdaq's decline. The stock has lost 33.8 percent of its value over the past three weeks and is currently trading near its 150-day moving average. A strong earnings report could reverse this downward trend, particularly since CREE is quickly re-approaching oversold conditions. The Wilder RSI score is at 34 and the stock has previously rebounded when this oscillator has trended below 30. Additionally, support at 104 has held very well with CREE having not closed below this level since January. Should the market react favorably to the company's earnings report, investors may want to look for a short-term test of $140 with a close above this resistance level being a very bullish sign. Any negative reaction to the report, however, could result in a near-term convergence with the 200-day moving average at $80 - at which point CREE would be severely oversold. One year chart of CREE with 150-day moving average, volume, and 14-2 Wilder RSI. Cree, Inc. develops, manufactures, and markets silicon carbide-based semiconductor devices. During the first two quarters of FY2000 revenues totaled $44.0 million compared to $26.3 million for the first two quarters of FY1999. Earnings per share totaled $0.33 compared to $0.19. The December 31, 1999 balance sheet shows cash and cash equivalents of $43.9 million and no long-term debt. Shares outstanding total 33.0 million with a float of 25.1 million.