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Veeco's (VECO +15.1%) stronger-than-expected Q1 results and Q2 guidance are also giving a lift...

Veeco's (VECO +15.1%) stronger-than-expected Q1 results and Q2 guidance are also giving a lift to Rubicon Technology (RBCN +11%) and (to a lesser extent) other LED industry names: LEDS +3%. CREE +3.4%. AIXG +3.5%. GTAT +4.2%. However, Canaccord, Sterne Agee, and Needham are staying cautious on account of concerns about weak LED end-market demand. Canaccord thinks LED TV sales will determine Veeco's 2H and 2013 performance.
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Comments (2)
  • murrayarnott
    , contributor
    Comments (8) | Send Message
     
    a little surprised at the jump. I have been a believer in Veeco for a long time but felt there was a little more time necessary before the LED market and their sales to pick up substantially. Their own guidance is not strong and they have had a drop in backlog. The long term fundamentals are great, however, I suspect there is lot of over-reaction from investors who have been patiently waiting for ANY good news.
    1 May 2012, 12:07 PM Reply Like
  • toddlaroche
    , contributor
    Comment (1) | Send Message
     
    I think there's talk of a buyout with Veeco and/or Rubicon.
    1 May 2012, 03:03 PM Reply Like
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