Health
Illumina Slides After Slashing Full-Year Forecast
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Shares of Illumina Inc. dropped as much as 7% in late trading after the company cut its sales and profit outlook and said a pair of top executives are departing.
The DNA-sequencing company now expects adjusted earnings of 75 cents to 90 cents a share, down from the previously forecast range of $1.25 to $1.50 a share. Analysts are expecting $1.38. Illumina cut its sales growth forecast to 1%, citing lower demand for its products.