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$CREE announced execution of a definitive agreement to sell its Wolfspeed Power and RF division to Infineon Technologies for $850MM in cash. J.P. Morgan Securities LLC served as $CREE's financial adviser on transaction. The closing is expected by the end of CY16. $CREE sees about $585MM of net proceeds after tax and other deal related costs.
$JNJ down 2% in pre-market trading. Earnings beat expectations, but sales disappointed. Johnson is cautious on its outlook. How it will perform in the future?
$YHOO is reporting today after market close. Nobody cares about this stock.