Illumina cuts growth forecast after soft 1Q16

Illumina Inc. (NASDAQ:ILMN) shed $32.93 (18%) to $145.20 in after-hours trading Monday after the company reported preliminary 1Q16 revenues of $572 million, shy of analysts' $596.3 million consensus estimate. The company said sales of its HiSeq 2500, 3000 and 4000 sequencers were lower than anticipated. It expects that sales in Europe will underperform expectations this year.

Illumina also said it now anticipates revenue growth of about 12% in 2016. It previously had guided for 16% growth. ...