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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (7952)	10/13/2000 3:31:26 PM
From: Dealer	Read Replies (2) \| Respond to of 65232

<FONT COLOR=GREEN>Voltaire! I think you have been Vendicated on your stock picks!!! Right all along!!!!!! ELON!! You kept the FAITH! Tom! Laugh all the way to the Bank!! Dealie

To: Dealer who wrote (7952)	10/13/2000 4:02:46 PM
From: Dealer	Respond to of 65232

CREE--Cree disputes report on gross margins (UPDATE: Adds CNBC response) NEW YORK, Oct 13 (Reuters) - Cree Inc. (NasdaqNM:CREE - news) on Friday disputed a television report that said the semiconductor company had warned the market to expect reduced margins. Cree said it issued no such warning. A CNBC spokesman said an editor on Friday morning had been reading directly from a headline that it said had been issued by financial wire Bridge News the night before. ``There was a report issued by Bridge news which stated 'Cree warns not to keep expecting such high margins,''' said CNBC spokesman Paul Capelli. "Based on that information (On-Air Stocks Editor) Joe Kernen reported it. He read directly from the Bridge News headline. ``It looks like when he first commented on it, he didn't cite Bridge. After that went out this morning, at 2:20 today he clarified it.'' A spokeswoman from Bridge Information Systems, a competitor of Reuters, said she was not immediately able to comment. Cree shares were off more than 10 percent at $85-1/16 on Friday, making it among the top net losers on Nasdaq. The Durham, N.C.-based company said its Chief Financial Officer Cynthia Merrell, in an earnings conference call after reporting fiscal first quarter results Thursday, was asked about gross margins. Cree said she replied: ``We have not changed our range of low- to mid-50's percent for gross margins going forward. This is the same range as before.'' Cree's gross margins for the first quarter of fiscal 2001 were 55 percent, unchanged from the fourth quarter of fiscal 2000. Cree reported Thursday that its first quarter profit more than doubled, topping Wall Street's expectations, as revenue surged 80 percent.