Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Illumina Stock Just Dropped 10%

TheMotleyFool

0 0

Shares of Illumina (NASDAQ: ILMN), a maker of equipment for genetic testing and analysis, had crashed 10% as of 12:50 p.m. on Thursday. The company announced this morning that it has completed its $8 billion cash and stock acquisition of cancer-testing company Grail despite the fact that the European Commission (EU) is still reviewing the transaction over monopoly concerns -- a fact that sparked a statement of "regret" over Illumina's decision from the commission.

Analysts aren't particularly pleased with this news, either. As TheFly.com reports today, Citigroup called Illumina's decision "confusing," while SVB Leerink went a step further and downgraded the stock to market perform.

Image source: Getty Images.

Source Fool.com

Like: 0

ILMN

Share