Cree higher following M&A rumors

|By:, SA News Editor

Vague M&A rumors are giving a lift to Cree (CREE +4.3%). Shares are at their highest levels since tumbling in April due to light EPS guidance.

Speculation that GE or Philips could bid for the LED lighting/component vendor has been around for years. ~10% of the float was shorted as of May 30.