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 : Wolf speed -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (9741)	6/25/2015 10:38:09 AM
From: robert b furman	Respond to of 10714

Here's why the drop: July copper rose $0.01 to $2.62/lb 4:01 pm Cree announces LED Business restructuring, $500 mln stock buyback authorization and FY16 annual operating plan ( CREE) : Co announces board of directors has approved: A $500 mln stock buyback authorization for FY16 A restructuring of the LED Products business Due to recent LED market trends that have resulted in higher LED average selling price erosion than previously forecast and the continued under-utilization of Cree's LED factory, co has decided to restructure the LED Products business to reduce excess capacity and overhead to improve the cost structure moving forward. Additionally, co is increasing LED reserves to reflect the more aggressive pricing environment experienced in the current quarter, and to factor in a more conservative pricing outlook for FY16. The restructuring charges are targeted to be ~$85 mln Revenue to increase to $1.8 mln+/- Non-GAAP operating margin increasing to ~8% Free cash flow of ~$75 mln