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Wolfspeed (WOLF) shares rose 15.8% in pre-bell trading after the company disclosed a conditional 30-year loan commitment from the US Department of Defense.
The maker of silicon carbide and gallium nitride semiconductor materials and power devices reported the agreement late Wednesday.
The positive move for the stock occurred despite broader market pressure from rising bond yields and crude oil prices.
In pre-bell action, the S&P 500 futures fell 0.6%, the Nasdaq declined 0.9% and the Dow Jones was off 1%.
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