Cree Inc. (CREE) reported first quarter EPS of $0.30 after the close Tuesday, which topped the consensus estimate of $0.22.
Cree Inc. gapped up Wednesday and rose throughout the first hour of trade. Shares advanced further in the early portion of the afternoon and finished higher by $4.73 at $45.89 on above average volume. Cree has been gaining ground for over 2 weeks and set its third consecutive new high for the year.
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