Illumina cuts annual profit forecast for second straight quarter
Shares of the San Diego, California-based company fell about 9% to $97.51 in extended trading, after it also missed Wall Street estimates for third-quarter sales. The U.S. life sciences firm in the last quarter had flagged weakness in demand for its genetic testing tools and diagnostics products over protracted recovery in China, cautious consumer spending and lengthened sales cycles. Sales at its core business, which advances sequencing instruments, consumables and services for genetic analysis, were $941 million in the third quarter, compared with LSEG estimates of $963.80 million.
Source: yahoo.com