Why Yahoo, Intel, Cree, Intuitive Surgical, and More Are Making Headlines

Cree, Inc. (NASDAQ:CREE) is in the red after the company turned in a soft fiscal 2017 first quarter. For the period, Cree earned $0.09 per share, missing the Street’s estimate by $0.02. Revenue came in at $321 million, down by 15.7% year-over-year, and also below the consensus mark, by $1.77 million. Gross margin was 26.9% for the three-month period, down from 28.1% a year earlier. Cree expects adjusted EPS of $0.13-to-$0.19 on revenue of $360 million-to-$380 million for its fiscal second quarter. 11 funds in our database had a long position in Cree, Inc. (NASDAQ:CREE) at the end of June, down by six funds from the end of March.

Although it handily beat third quarter expectations, Intel Corporation (NASDAQ:INTC) has fallen by 5% in extended trading due to soft guidance. For the third quareter, the semiconductor maker earned $0.80 per share on revenue of $15.78 billion, beating the Street’s expectations of $0.72 per share in earnings and $15.58 billion in revenue. Sales rose by 9.1% year-over-year as the sales from its Data Center Group increased by 10% and revenue from Internet of Things surged by 19%. Adjusted gross margin clocked in at 64.8%, up by 0.3 percentage points from the third quarter of 2015. In terms of outlook, Intel is predicting fourth quarter revenue of $15.7 billion +/- $500 million, and adjusted gross margin of 63% +/- a couple of percentage points. The number of funds that we track with long positions in Intel Corporation (NASDAQ:INTC) rose by three during the second quarter to 57 at the end of June.

Interactive Brokers Group, Inc. (NASDAQ:IBKR) earned $0.30 per share for its third quarter, missing the average analyst estimate by $0.04. Revenue for the period was $345 million, down by 3.9% year-over-year, and $6.79 million below the Street’s consensus estimate. A big reason for the miss was lower trading activity, perhaps due to the lack of fear in the marketplace, as total DARTs declined by 11% to 609,000. Nevertheless, if interest rates normalize and/or the industry consolidates, Interactive Brokers is likely to benefit. 30 funds in our database were long Interactive Brokers Group, Inc. (NASDAQ:IBKR) at the end of June.

Disclosure: None