CREE

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NC LED-maker Cree to add 575 jobs in next 3 years

NC-based Cree plans to add 575 more jobs by 2013 as demand for efficient lighting expands



DURHAM, N.C. (AP) -- A North Carolina-based maker of energy-efficient lighting elements is expanding and plans to add 575 jobs in the next three years.
Cree Inc. said Thursday it expects to add 275 jobs this year as it expands production of light-emitting diode chips at its Durham plant. The company plans to add another 300 jobs by the end of 2012.
Cree has about 3,500 full-time workers, including 1,500 in Durham.
The company reported in August that it was adding workers as it increased production at plants in Durham and China.
Cree is flush after a stock offering last month brought in $434 million, and the company has plans for $150 million in capital spending.
Shares rose 47 cents Thursday to $37.10 on the Nasdaq market.

http://finance.yahoo.com/q?s=cree

[alevin]

Show-Me, not sure if you think the latest about CREE indicates an upturn for the manufacturing economy and job creation or if you are considering buying CREE for your portfolio....If you choose to buy it, may I suggest you get hardcopy stock certs?

I posted some info about CREE awhile back...

http://www.tsptalk.com/mb/showpost.php?p=219446&postcount=321



"most heavily shorted stocks" and amongst the results found a list of ten stocks from 2003 (http://tinyurl.com/dl3huf (http://tinyurl.com/dl3huf)). Several of the group are now extinct but the ones still extant are typically so incredibly over owned even today that we can only wonder how anyone can trust the stock market. These are not small fly-by-night companies; CAKE has sales of $1.6 billion and MOLX has sales of $3.2 billion.

But we went another step further and then searched for “highest percentage of float short” and came up with equally disturbing results, pulling in a Bespoke Research study from September 28, 2008. We only checked ten of the 25 listed stocks, enough to further fortify our determination that the markets are broken. For each, large block owners alone accounted for well over 100% of the total of authorized share issuance.The companies included Cree Inc. (CREE)...



The short sale mechanics of the U.S. stock market are horribly broken. Investors are well advised not to trust anything they hear and only half of what they see.Most unfortunately, the agency responsible for keeping track of stock ownership is fighting to do away with paper certificates, the only way one can currently certify ownership without any doubt as to legitimacy. Given the statistics we have presented in past months, a brokerage account entry proves nothing.