Veeco Instruments Shares Jumped: What You Need to Know

Before you go, we thought you'd like these...
Before you go close icon

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Veeco Instruments (NAS: VECO) are shining brighter today, up by 20% at their high, on news that China hopes to phase out incandescent light bulbs.

So what: Veeco makes equipment used in LED production, so ditching the ancient technology for LEDs would be a boon for its business. LED maker Cree (NAS: CREE) is also seeing some healthy upside today on the developments.

Now what: A handful of Chinese government agencies have laid out a roadmap to gradually ban imports and sales of incandescent bulbs for general lighting purposes. The ban would start in October 2012 and include lamps with wattage over 100 watts, while bulbs using 60 watts or higher would get the boot by October 2014. The goal of the initiative would be to conserve energy and reduce emissions for the world's most populous nation.

Interested in more info on Veeco Instruments? Add it to your watchlist byclicking here.

At the time this article was published Fool contributorEvan Niuholds no position in any company mentioned.Click hereto see his holdings and a short bio. Try any of our Foolish newsletter servicesfree for 30 days. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.

Copyright © 1995 - 2011 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners