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Movers Roundup: SanDisk, Cree

The Associated Press

Among the stock activity stories for Wednesday, May 27, from AP Financial News:

NEW YORK (AP) — Shares of SanDisk Corp. soared after the flash memory card maker renewed a chip patent cross-licensing agreement with Samsung Electronics Co. and secured a guaranteed portion of future memory chip output from the company.

NEW YORK (AP) — Shares of LED light maker Cree Inc. made gains, after the company boosted its fourth-quarter sales and profit estimates above Wall Street expectations.

NEW YORK (AP) — Shares of Revlon Inc. rose as an analyst raised her price target following a management shuffle and better-than-expected first-quarter earnings from the cosmetics company, which recently received a proposal from its majority shareholder to convert Class A common shares to preferred stock.