Shares of ILMN are getting poleaxed this morning, after blaming Europe for their incompetence.
Everyone is downgrading these losers this morning. People hate the stock and have pushed it down $30, or 18%.
Alas, the wondrous world of biotech.
If you enjoy the content at iBankCoin, please follow us on TwitterCo issues downside guidance, sees 1Q16 revenue of approximately $572 mln vs. $596.8 mln Capital IQ Consensus.
Co states: “Our first quarter results fell short of expectations largely due to lower than expected sales of HiSeq 2500, 3000 and 4000 instruments. Despite this slow start in Q1, we anticipate that our Americas and Asia Pacific regions will meet our expectations for the full year, but that Europe will underperform. As a result, we now project approximately 12% revenue growth for fiscal 2016. Given the disappointing outlook in Europe, we have made management changes in the region and plan to implement a program of actions to achieve our goal of delivering the robust growth we believe the market can support.
