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Jeremy Frommer, CEO of Hedge Fund LIVE Jeremy Frommer has 20 years of industry experience and is currently responsible for general management and leadership of the General Partner. Previously, Mr. Frommer was a Managing Director and Head of the Global Prime Services Group (“GPS”) at RBC Capital... More
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  • Watch the LED’s in the AM  0 comments
    Feb 17, 2011 3:11 PM | about stocks: CREE, LEDS, RBCN, VECO

     Rubicon (NASDAQ:RBCN) reported after the bell and easily beat the street.  Fourth quarter EPS came in at 64 cents  versus the street at 50 cents, while  reporting revenues of $29.5 million versus the street at $26.8 million.

    The company’s fiscal first-quarter outlook was also strong as it forecast earnings of 62 to 65 cents a share for the three months ending in March vs. the current average analysts’ view of 52 cents a share.

    Rubicon is up about 20% after hour’s, but here’s the kicker:

    Can you say short sqeeze

    That’s right RBCN’s short interest is 62%, so watch out tomorrow as 20% up could just be the beginning.  Also, keep an eye on the other LED names, CREE, VECO, AIXG, and LEDS as this number may put a little giddy up in the whole crew.  AIXG which also reports at the end of the month so the RBCN beat should mean clear sailing into 3/1/11.

    With the strength of this number and the short interest in RBCN I think it will be reasonable to say new 52 week highs in the near future.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
    Stocks: CREE, LEDS, RBCN, VECO
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