Illumina's stock on track for lowest close in 10 years after cutting guidance
Illumina Inc.'s stock (ILMN) fell 14% Friday to put it on track for its lowest close in 10 years, after the company after the maker of DNA-sequencing technology cut its full-year sales and profit guidance after missing revenue estimates for the third quarter. The stock was last quoted at $91.16. The last time it traded below $92 was in 2013. The stock has fallen for four of the past five days and is down three straight days, according to Dow Jones Market Data. It's down 18.8% in that period to mark the worst three-day stretch since it fell 24.7% in the three days through May 10, 2022. The stock has fallen 54% in the year to date, while the S&P 500 has gained 14%.
-Ciara Linnane
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
11-10-23 1016ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
5 Stocks to Buy Instead of Overpriced US Equities
-
Q4 Stock Market Outlook: Where We See Opportunities for Investors
-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
New 4-Star Stocks
-
Morningstar’s Guide to Investing in Stocks
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
United States