Illumina sags on revenue shortfall

Illumina Inc. (NASDAQ:ILMN) sank $17.36 (11%) to $145.81 on Tuesday, shedding $2.6 billion in market cap after it reported 3Q15 revenues and issued 4Q15 guidance that disappointed investors. Its 3Q15 revenues of $550 million were shy of analysts' $568.6 million consensus estimate, and its 4Q15 guidance of $570 million was below the consensus of $602.8 million.

The company issued a preliminary financial statement after market close Monday; it intends to report full quarterly results on Oct. 20 (see BioCentury Extra, Oct. 5). ...