Cree (CREE +0.2%) drops off earlier highs after GE (GE -0.7%) denies a report that it awarded...

|By:, SA News Editor

Cree (CREE +0.2%) drops off earlier highs after GE (GE -0.7%) denies a report that it awarded the company a contract to produce its 60-watt LED replacement bulbs. "There is no basis for this rumor. We have not made a decision," says a GE spokesperson.