Cree (CREE +4.9%) is up sharply after reportedly winning a 5-year contract with GE to produce...

|By:, SA News Editor

Cree (CREE +4.9%) is up sharply after reportedly winning a 5-year contract with GE to produce its 60-watt LED replacement bulbs. The contract could mean a boost in sales between $337M and $1.6B over the period. While positive news, the company still faces margin pressure challenges from a high overall cost structure.