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Illumina Shares Hammered by Sales Forecast Cut

Cantor Fitzgerald says Illumina's outlook revision is not likely to affect industry peers.

Shares of Illumina (ILMN) - Get Illumina, Inc. (ILMN) Report were lower Tuesday after the biotech firm cut its third-quarter sales expectations to $607 million, that's down more than 3% from the midpoint of its prior guidance. Illumina also said it expects to see a fall in sales of its sequencing instruments. Analysts with Cantor Fitzgerald wrote Tuesday that Illumina's troubles are "largely company-specific" and that Cantor Fitzgerald is still positive on industry peers such as Pacific Biosciences (PACB) - Get Pacific Biosciences of California, Inc. Report .

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