Veeco (VECO) +8.6% AH after providing a Q1 business update that was better than feared. Bookings...

|About: Veeco Instruments Inc. (VECO)|By:, SA News Editor

Veeco (VECO) +8.6% AH after providing a Q1 business update that was better than feared. Bookings for the quarter totaled $70M, down 24% Q/Q and 38% Y/Y. LED/solar bookings amounted to $43M, -49% Y/Y, while hard drive equipment bookings fell 7% to $27M. The company's cash balance rose by $9M Q/Q to $588M. Veeco, whose earnings reports have been delayed as it does an accounting review, says MOCVD end market signals "are mixed but appear to be trending in a positive direction," with some LED customers operating at close to full capacity. Aixtron (AIXG) could rally in sympathy. (Q4 bookings)