Company News for May 27, 2009

• Cree (NASDAQ:CREE - Analyst Report) provided upside guidance for its fiscal fourth quarter earnings and revenues. The company said it expects earnings of 15 cents to 17 cents per share, ex-items, versus consensus estimates of 14 cents, as revenues of $143 million to $150 million beat estimates of $139.43 million on stronger LED component bookings for lighting-related applications

• Take-Two (NASDAQ:TTWO - Snapshot Report) beat estimates with a fiscal second quarter loss of 4 cents a share, ex-items, as revenues declined 57.4% year-over-year to $229.7 million, versus estimates of $218.5 million. The firm issued downside third quarter guidance, but mixed fiscal 2008 guidance, anticipating full-year results of breakeven to a 20 cents a share profit ex-items, versus Street estimates of 12 cents, on revenues of $1.05 billion to $1.15 billion, versus estimates of $1.17 billion

• Barclays (NYSE:BCS - Analyst Report) lifted 2010 estimates for Qualcomm (NASDAQ:QCOM - Analyst Report) and Broadcom (NASDAQ:BRCM - Analyst Report), expecting the two to benefit from increased market shares

• AutoZone (NYSE:AZO - Analyst Report) reported a better-than-expected fiscal third quarter earnings of $3.13 a share, beating by 24 cents, as revenues increased 9.3% year-over-year to $1.7 billion

• Staples (NASDAQ:SPLS - Snapshot Report) released first quarter earnings of 22 cents a share, beating estimates by one cent per share on in-line revenues of $5.8 billion