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Cree Cuts Q4 Guidance, Shares Fall

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Cree, Inc. (NASDAQ: CREE) cut fourth-quarter earnings per share guidance from 12-16 cents to 8-12 cents, compared to a 21 cent analyst estimate.

Cree also cut sales guidance from $263 million-$271 million to $245 million-$252 million, compared to a $282.35 million estimate.

Cree traded down 4 percent at $57 per share in Tuesday's pre-market session.

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