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ILMN Stock Recovers After Torching Its 2023 Outlook As 'Huge Accomplishment' Drives Shares

News Snapshot:

Illumina (ILMN) stock recovered Thursday after the company torched its outlook on company-specific and macro headwinds. In midday trades, ILMN stock sank back below its 50-day line. X Illumina is a leader in using next-generation sequencing to "read" the human genome, a key technology as genetic and precision medicines gain steam. But for the year, Illumina now expects sales to grow just 1%. That's down from its prediction for 7% to 10% growth issued three months ago. Illumina also expects to earn 75 cents to 90 cents per share, minus some items, widely missing expectations for adjusted profit of $1.27…

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