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Yesterday, light-emitting diodes maker Cree (CREE - 112-1/2) announced that its fourth-quarter net income came in at 30 cents per share, topping Street expectations by three cents per share. In Thursday's trading, the stock closed at its lowest level since May 26. Since logging a short-term intraday high two weeks ago, the shares have lost nearly 29 percent of their value. The equity's 10-day and 20-day moving averages appear on the verge of a bearish crossover, which can be an indication of near-term weakness. CREE is trading lower by more than one percent, or nearly two points, in pre-market activity. Information from Multex
shows that the security remains relatively unknown on Wall Street, as there are only seven analysts currently covering this laggard, all of which rate it as a "buy." Any downgrades or new negative coverage could further limit CREE.