Cree (CREE) shares are lower after the company cut its revenue forecast due to weak demand for LED parts. The company expects revenue of $215 million to $220 million for the quarter ending March 27, down from its prior January forecast of $245 million to $265 million. Analysts estimated third-quarter sales would be $255.7 million.
Shares are lower by over 12% in afternoon trading.
Northern Oil & Gas (NOG) shares are lower on Wednesday following an article in Barron's that noted accelerating insider selling of company shares. Insiders have sold nearly $31 million in stock during the last month, including a $21.8 million sale by CEO Michael Lewis Reger this past Friday.
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