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Technology Stocks : Wolf speed

WOLF 17.29

-3.3%

3:59 PM EST

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To: pompsander who wrote (6468)	11/13/2002 6:40:57 PM
From: Ron	Read Replies (1) of 10713

CREE: reit` market perform - As a result of Cree's latest announcement of a settlement and cross-license agreement with Nichia, we are raising our CY 2003 estimate to $0.68 from $0.60 due to the reduction of litigation expense that we have estimated at around $2 million per quarter, which increases our CY 2003 estimate by $0.08. The agreement between Cree and Nichia includes both a cross license agreement and a settlement of litigation between the companies concerning gallium nitride-based optoelectronic technology. This agreement ends all outstanding litigation between the two companies, and we believe that it will allow both companies to focus more resources on their R&D efforts. - - - Friedman, Billings, Ramsey & Co., Inc. (CREE) 13 Nov 2002

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