Cree Inc. shares fell in the extended session Tuesday after the light-emitting diode maker’s outlook fell below Wall Street estimates. Cree shares fell 9.3% to $22.86 after hours. For the fiscal second quarter, Cree forecast adjusted earnings from continuing operations of 4 cents to 10 cents a share, while analysts surveyed by FactSet were looking for 16 cents a share. The company reported adjusted fiscal first-quarter earnings of 15 cents a share on revenue of $321.3 million. Analysts surveyed by FactSet had forecast earnings of 13 cents a share on revenue of $364.8 million.
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