Morning Alert: Cree (NASDAQ:CREE) and Qualcomm Inc. (NASDAQ:QCOM)

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Cree (NASDAQ:CREE) on Tuesday morning lifted its outlook for its fiscal that would be ending on March 31.

For the recent quarter, the LED lighting firm now hopes revenue of $335 million to $350 million, which was higher against a former range of $325 million to $345 million.

The firm continues to aim towards non-GAAP gross margin of 39.5%. The firm now witnesses non-GAAP profits of 31-36 cents per share, which was higher as compared to a former range of 30-35 cents.

The firm also declared a latest line of LED bulbs at price points it resists would be low enough to provide buyers a reason to switch to LED lighting.

What Cree has offered its customers this year? Find out the new launch

Cree (CREE) is providing a 40-watt warm white substitute bulb at $9.97, with a 60-watt warm white bulb at $12.97 and a 60 watt day light at $13.97.

The firm claims using Cree’s LED bulbs in a home’s five most utilized light fixtures can save $61 per year in electricity costs.

How Qualcomm gained investors confidence on Tuesday trading session? Find in this report

Qualcomm Inc. (NASDAQ:QCOM) enhanced its dividend by 40 percent and created a $5 billion share repurchase plan, pleasing investors following increasing demand for smartphones that operate on its technology prompted sales growth.

The quarterly cash dividend would hike to 35 cents from 25 cents, Qualcomm (QCOM), the biggest seller of semiconductors for mobile phones, reported in a statement on Tuesday. The latest share buyback plan substitutes a previous $4 billion plan that had $2.5 billion remaining.

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