Notable Active Movers: Cree, Inc. (NASDAQ:CREE), DENTSPLY SIRONA Inc (NASDAQ:XRAY)

On Monday, Shares of Cree, Inc. (NASDAQ:CREE), added 1.28% and closed at $24.49 in the last trading session. The last trading range of the stock ranges between $24.09 and $24.75. Cree, Inc. (CREE) has filed a complaint against E. Mishan & Sons, Inc. (“Emson”) with the U.S. District Court for the District of Massachusetts for infringement of Cree’s patented LED technology in Emson’s flashlights, such as the Bell + Howell Taclight.

“Cree will not tolerate and will aggressively defend against such blatant disregard of its intellectual property rights,” said Dave Emerson, senior vice president and general manager for Cree LEDs. “We have an obligation to our customers to ensure that the market offers products that include the high-quality LED components that customers have come to expect. We are committed to protecting Cree’s investment in research and development on behalf of our customers, shareholders and our licensing partners.”

As part of the complaint, Cree is seeking an award of improved damages, attorneys’ fees and an injunction to prevent Emson from offering for sale and selling any products using knock-off LEDs.

DENTSPLY SIRONA Inc (NASDAQ:XRAY), dropped -2.56% and closed at $58.68 in the last trading session. The last trading range of the stock ranges between $58.45 and $60.41. The company’s Market capitalization is $13.36 Billion with the total Outstanding Shares of 231.60 million. DENTSPLY SIRONA Inc. (“Dentsply Sirona”) (XRAY), The Dental Solutions CompanyTM, recently declared its financial results for the three months ended September 30, 2016.

Third Quarter 2016 Financial Results

Stated net sales of $954.2 million raised 47.0% contrast to $648.9 million in the third quarter of 2015.  For the three month period ended September 30, 2016, sales of the combined businesses1 grew 0.4% at constant currency exchange rates and internal growth2 was flat.

On a geographic basis, U.S. stated net sales, apart from precious metals, of $334.2 million raised 33.9% contrast to $249.5 million in the third quarter of 2015. Sales of the combined businesses1 declined 3.1% on a constant currency basis with internal growth down 3.2% during the three month period ended September 30, 20162.

Stated net sales in Europe, apart from precious metals, raised 41.3% to $348.3 million contrast to $246.5 million in the third quarter of 2015.  Sales of the combined businesses1 grew 1.6% on a constant currency basis with internal growth of 1.2% during the three month period ended September 30, 20162.

Leave a Reply

Your email address will not be published. Required fields are marked *