Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Carl Worth who wrote (49460)	10/10/2003 8:36:21 AM
From: DanZ	Read Replies (2) \| Respond to of 53068

CREE is bid at 21.75 this morning, up almost $3 per share, presumably due to the following news. The results of their investigation aren't surprising to me, but the recent rise in the stock from 12 to 22 is. lol Maybe now is the time to short a little? Fri Oct 10 08:11:00 2003 EST DURHAM, N.C., Oct 10, 2003 /PRNewswire-FirstCall via COMTEX/ -- Cree, Inc. (Nasdaq: CREE) today announced that the special committee of its Board of Directors has completed its previously announced investigation into allegations of corporate wrongdoing made by Eric and Jocelyn Hunter in court filings and otherwise. The special committee's report, delivered to the full Board of Directors, states: "[T]he Committee did not discover any evidence to support any of the allegations contained in [the Hunters'] Complaint or pre-litigation correspondence. Based on the Investigation, the Committee concludes all of the allegations lack merit." The special committee was established by Cree's Board on June 14, 2003. The committee was composed of independent directors who retained independent legal counsel to assist and advise the committee in its investigation. The special committee issued its report after more than three months of intensive investigation, which included examining over 50,000 pages of documents and conducting more than 25 interviews. Cree also noted that the Hunters stated in a court filing Thursday that they have decided to dismiss without prejudice their claims alleging federal securities fraud and unfair or deceptive trade practices. As to the remaining claims contained in the Complaint, the Hunters opposed Cree's motion to dismiss which is pending before the court.

To: Carl Worth who wrote (49460)	10/10/2003 9:21:02 AM
From: BWAC	Read Replies (1) \| Respond to of 53068

Carl, I assure you that the 1% and 2% counties are most likely errors or data points that give the wrong impression. Dare county is the coast which may be correct for the season. The other low ones, like Watagua, are in the mountains. There may be something seasonal in regards to those as well. But no factories, no new industries have come. The numbers do not look right for the area. (And I was there last week). A lot of people might have just dropped off the rolls. Used benefits up. The larger cities are doing ok. That would be Wake and Mecklenberg. The satellite counties surrounding these are doing terrible. Rowan 12%? Cabarrus 11%?