Shares of Pacific Biosciences (PACB -13.1%) fall hard after the firm announces a 28% reduction...

|About: Pacific Biosciences of Ca... (PACB)|By:, SA News Editor

Shares of Pacific Biosciences (PACB -13.1%) fall hard after the firm announces a 28% reduction of its workforce in consideration to the "economic environement." Piper Jaffray and JPMorgan both downgraded shares today to Neutral and Underweight, respectively.