Illumina (ILMN) moves higher in pre-trading after easily beating on its Q1 yesterday. In its...


Illumina (ILMN) moves higher in pre-trading after easily beating on its Q1 yesterday. In its conference call, the company reiterates that it expects a 2% - 4% impact as a result of sequestration, suggesting the damage will likely be limited. One of the offsetting factors management mentions is that "under the continuing resolution much of the NIH allocation was at 90% of the grant amount and so that has a potential small upside effect that could neutralize any of the downside effects from sequestration." Read more on the call here: (Earnings Call Transcript). Shares +9.3% pre-open.

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