Here’s Why These Stocks Are Trading Lower on Wednesday

Cree, Inc. (NASDAQ:CREE)’s stock has lost over 14%, so far on Wednesday, after the company reported revenue of $388.41 million for the fourth quarter of fiscal 2016, topping analysts’ estimates of $385.83 million, while adjusted EPS of $0.19 missed the expectations by $0.01. Cree expects full-year consolidated operating income guidance in the range of $356 million to $378 million for the first quarter of fiscal 2017. Chuck Royce’s Royce & Associates owned 443,200 shares of Cree at the end of the second quarter.

Shares of 21Vianet Group Inc (NASDAQ:VNET) have slid by 12% on the back of the company reporting its results for the second quarter. While its revenue of $137.1 million managed to beat the consensus estimate of $128.17 million, the net loss of $0.17 per share missed expectations by $0.08. The company provided revenue guidance in the range of RMB900 million ($135.42 million) to RMB940 million ($141.44 million) for the third quarter, while for the full year the revenue guidance is between RMB3.62 billion ($545 million) and RMB3.66 billion ($551 million). One of 21Vianet Group’s largest shareholders is Jim Simons’ Renaissance Technologies, which reported ownership of 723,300 shares in its last 13F filing.

Finally, Lowe’s Companies, Inc. (NYSE:LOW)’s is trading lower after the company reported a second-quarter revenue of $18.26 billion, which missed the estimates by $190 million, and EPS of $1.37, versus expectations of $1.42. The company revised its guidance for 2016 with sales expected to increase by 10% while, comparable sales are expected to grow by 4%. Edgar Wachenheim’s
Greenhaven Associates owns 8.31 million shares of Lowe’s Companies as of the end of June.

Disclosure: None