Tuesday, May 24, 2011

Cree, Inc. Spikes, Then Swoons, on GE Deal Drama (CREE; GE)

A couple times a year I like to start the GE/Cree rumor.
[he's kidding -ed]
From Schaeffer's Research:
Shares of LED specialist Cree, Inc. (CREE - 41.29) bolted to a gain of nearly 5% right out of the gate this morning, after analysts at Canaccord Genuity announced that the company had won a key 60-watt replacement bulb contract with General Electric Company (GE). However, CREE has since spiraled into negative territory, after a rep for GE flat-out denied the report.

"There is no basis for this rumor. We have not made a decision," asserted GE spokeswoman Kim Freeman....MORE
We have not made a decision?
Sept. 2010
Buyout Rumors on Cree (Again) CREE
Sept. 2009
Cree: IBM Rumor Resurfaces (Updated) CREE
And many, many more