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Cree Inc. (CREE) Climbed To A New High Following Acquisition

Cree Inc. (CREE) announced Tuesday morning that it has agreed to acquire assets of Infineon Technologies AG's Radio Frequency, or RF Power Business, for about 345 million euros.

Cree rose steadily until midday Tuesday and ended the day with a gain of 3.70 at $41.76. The stock surged past resistance and set a new high for the year.

by RTTNews Staff Writer

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