Orlando, FL -- (SBWIRE) -- 10/23/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Cree, Inc.(NASDAQ:CREE), Juniper Networks, Inc.(NYSE:JNPR).
Cree, Inc.(NASDAQ:CREE) shares increased 1.25% to $74.32. The company on Oct. 22 announced revenue of $391.0 million for its first quarter of fiscal 2014, ended September 29, 2013. This represents a 24% increase compared to revenue of $315.8 million reported for the first quarter of fiscal 2013, and a 4% increase compared to the fourth quarter of fiscal 2013. GAAP net income for the first quarter was $30.5 million, or $0.25 per diluted share, an increase of 89% year-over-year compared to GAAP net income of $16.1 million, or $0.14 per diluted share, for the first quarter of fiscal 2013. On a non-GAAP basis, net income for the first quarter of fiscal 2014 was $47.3 million, or $0.39 per diluted share, an increase of 49% year-over-year compared to non-GAAP net income for the first quarter of fiscal 2013 of $31.8 million, or $0.27 per diluted share.
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Juniper Networks, Inc.(NYSE:JNPR) shares declined 2.35% to $20.36. The company on Oct. 22 reported preliminary financial results for the three months ended September 30, 2013 and provided its outlook for the three months ending December 31, 2013.
Net revenues for the third quarter of 2013 increased 6% year-over-year and increased 3% sequentially to $1,186 million. The Company posted GAAP net income of $99 million or $0.19 per diluted share for the third quarter of 2013. The GAAP diluted income per share includes $0.02 impact from restructuring charges. Non-GAAP net income per diluted share increased 14% compared to the second quarter of 2013 and includes a $0.01 benefit from a lower tax rate.
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