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To: Dealer who wrote (8004)	10/13/2000 10:24:45 PM
From: lurqer	Read Replies (1) \| Respond to of 65232

CREE-Up 3 afterhours While I don't base too much on AH quotes, that's still "music to my ears". BTW when this left brain cynic needs to exercised the right lobe, one of the ways is to "make" some southwestern jewelry. The pieces are based on bright (blue, turquois, etc.) LED's. I found the source while doing DD on CREE.<gg> lurqer

To: Dealer who wrote (8004)	10/14/2000 12:39:11 AM
From: Dealer	Read Replies (2) \| Respond to of 65232

CREE--Cree disputes report on gross margins (UPDATE: Adds Bridge response in paragraph 7-8) NEW YORK, Oct 13 (Reuters) - Cree Inc. (NasdaqNM:CREE - news) on Friday disputed reports that said the semiconductor company had warned the market to expect reduced margins, touching off a round of finger pointing between the company and financial news providers. Cree said it issued no such warning, but its shares closed down nearly 8 percent in trade on the Nasdaq stock market, highlighting the speed and force with which news, erroneous or not, can hurt stock prices in the current volatile market. The dispute arose from a conference call Cree held on Thursday with analysts and journalists following its release of fiscal first quarter results. Financial newswire service Bridge News ran a report after the call and television station CNBC read a part of that in its own report. Cree issued statements disputing both. A spokesman for television station CNBC said an editor on Friday morning had been reading directly from a headline that he said had been issued by Bridge 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 p.m. today he clarified it.'' In a statement, Bridge said it stood by its coverage of the Cree conference call, saying that read in its entirety, it provided ``a complete and accurate picture of Cree's results.'' ``BridgeNews did not state that Cree had issued a formal warning on its margins, but did indicate that Cree was cautioning analysts not to assume future margins would be consistently quite as high as the record latest quarter levels,'' the statement said Cree shares fell as low as $77 in trade on Friday, before recovering to close down $7-7/16 at $87-5/8. It was among the top net losers on Nasdaq. The Durham, N.C.-based company said its Chief Financial Officer Cynthia Merrell, was asked about gross margins in the conference call. 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.'' The company's gross margins for its fiscal first quarter ended Sept. 24, were 55 percent, unchanged from the fourth quarter of the previous fiscal year. Cree reported on Thursday that its first-quarter profit more than doubled, topping Wall Street's expectations, as revenue surged 80 percent.