Canaccord Genuity Raises Price Target on Cree (CREE) Following Announced Wolfspeed Sale

Unusual 11 Mid-Day Movers 7/14: (OPTT) (CREE) (BGI) Higher; (CNR) (MGT) (MYOK) Lower

Ocean Power Technologies, Inc. (Nasdaq: OPTT) 32.9% HIGHER; announced the deployment of its commercial design of the PB3 PowerBuoy® approximately four miles off of the coast of New Jersey. The commercial PB3 incorporates multiple enhancements over early prototypes including a redesigned power take-off (PTO), a high-capacity, modular energy storage system (ESS) providing flexibility through expanded battery capacity, a higher voltage and efficient power management and distribution system, and a new auto-ballasting system which the Company believes allows for faster and less costly deployment.

China Metro-Rural Holdings (NYSE:... More

Notable Mergers and Acquisitions 7/14: (CREE) (DVN) (TRTL) (LPI)

*** Infineon Technologies AG and Cree, Inc. (Nasdaq: CREE) announced today that Infineon has entered into a definitive agreement to acquire the Wolfspeed Power and RF division ("Wolfspeed") of Cree. The deal also includes the related SiC wafer substrate business for power and RF power. The purchase price for this planned all-cash transaction is US Dollar 850 million (approximately Euro 740 million). This acquisition will enable Infineon to provide the broadest offering in compound semiconductors and will further strengthen Infineon as a leading supplier of power and RF power solutions in high-growth markets such as electro-mobility, renewables... More

Pre-Open Stock Movers 07/14: (SUNW) (CREE) (YUM) (JPM) Higher; (ACHN) (LXU) (SUM) Lower (more...)

Today's Pre-Open Stock Mover:

Sunworks, Inc. (NASDAQ: SUNW) 16.5% HIGHER; announced today that Amazon has contracted with Sunworks to oversee the rooftop solar installations of 1 Megawatt mounted projects in both Reno, Nevada and Windsor, Connecticut. Sunworks was selected based on its history, experience and reputation as a quality solar provider.

Cree, Inc. (Nasdaq: CREE) 9.4% HIGHER; announced execution of a definitive agreement to sell its Wolfspeed... More

Cree (CREE) to Sell Wolfspeed to Infineon in $850M Deal

Cree, Inc. (Nasdaq: CREE), a market leader in LED lighting, today announced execution of a definitive agreement to sell its Wolfspeed Power and RF division (Wolfspeed), which includes the silicon carbide substrate business for power, RF and gemstone applications, to Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) for $850 million in cash.

In 2015, the Company announced its strategy to become a more focused LED lighting company. As part of that strategy, the Company also announced the proposed IPO of Wolfspeed to create a more focused Power and RF... More

Cree (CREE) volatility flat into raising Q4 preliminary revenue guidance

Cree (NASDAQ: CREE) July call option implied volatility is at 34, August is at 41; compared to its 52-week range of 29 to 59, into the lighting company raising Q4 preliminary revenue guidance.

Infineon to Acquire Cree's Wolfspeed Power and RF Division in $850M Deal

Infineon Technologies AG and Cree, Inc. (Nasdaq: CREE) announced today that Infineon has entered into a definitive agreement to acquire the Wolfspeed Power and RF division ("Wolfspeed") of Cree. The deal also includes the related SiC wafer substrate business for power and RF power. The purchase price for this planned all-cash transaction is US Dollar 850 million (approximately Euro 740 million). This acquisition will enable Infineon to provide the broadest offering in compound semiconductors and will further strengthen Infineon as a leading supplier of power and RF power solutions in high-growth markets such as electro-mobility, renewables and... More