Here's Why Illumina Tumbled 18.7% in July
Shares of Illumina (NASDAQ: ILMN) fell nearly 19% last month, according to data provided by S&P Global Market Intelligence. The titan of DNA sequencing released preliminary second-quarter 2019 operating results in mid-July and followed that up with the full report before the end of the month. While the sky isn't falling, the business did hit a speed bump.
Illumina reported year-over-year revenue growth of just 1% in Q2. The business also coughed up a year-over-year decline in operating income and a sharp drop in cash-flow generation in the first half of 2019. The surprising stagnation of the financial health of the company was compounded by a delay in its proposed acquisition of Pacific Biosciences.
Image source: Getty Images.
Quelle Fool.com
