S&P Equity Research Downgrades Affymetrix (AFFX) to Hold
More News related to AFFX
- Affymetrix to Webcast Annual Meeting of Shareholders
- Key Milestones to Improve Operating Leverage Achieved Ahead of Schedule
- Affymetrix, Inc. (AFFX) President and Chief Executive Officer to Ring the NASDAQ Stock Market Opening Bell
- Affymetrix Chief Medical Officer to speak at AAAS on Personalized Medicine
- Entrepreneur Magazine Picks Affymetrix as One of Top 100 Companies to Watch
More News related to ILMN
- Unusual 11 Mid-Day Movers 7/2: NAVI, AVNR, ESLR, ELN Higher; DSCO, SEPR, TIVO, ILMN Lower
- Morning Movers 7/2: ELN, QUIK, ESLR Higher; DSCO, LEA, SEPR, ILMN, MANH Lower
- Illumina (ILMN) volatility low into preannounced lower Q2 revenue
- Illumina (ILMN): Defended following a negative pre-announcement
- Illumina Launches Multi-Sample Indexing for GoldenGate(R) Assay
S&P Equity Research downgrades Affymetrix (Nasdaq: AFFX) from Buy to Hold.
S&P analyst, J. Loo, says, "AFFX now sees Q1 sales of $170M inclusive of $90M patent payment from Illumina (Nasdaq: ILMN) and reduces '08 guidance to $490-$510M from $505-$525M on lower research spending by pharma and industrial end-users. We expected some slowdown in end-markets, but we believed AFFX could sustain steady sales progress with new products, but now see the company making price cuts to retain end-users. We lower our '08 sales forecast to $390M from $420M (excluding $90M patent payment), EPS est. to $0.41 from $0.62, and cut target price by $15 to $15 on revised DCF."
Affymetrix, Inc. is engaged in the development, manufacture, sale and service of consumables and systems for genetic analysis in the life sciences and clinical healthcare markets.[SM]
Related Categories
DowngradesStocks Mentioned
-0.55Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
