Movers in Rayno Diagnostics and Tools Stocks
On a lackluster day in the market two of our picks were up big,two others exceeded one year highs.
Illumina (ILMN $81) was up 10% on earnings to an all time high recovering from its downdraft in 2011. Revenues were up 23% from previous quarter in 2012 and GAAP income was $36 M or $0.26 per share. Free cash flow was $77M for Q2. Illumina raised their expectations for 2013.
Response Genetics (RGDX $2.13) was up 11% on huge volume of 563k shares with an average volume of 57k shares.There was no news so we can assume that a fund or an individual has added to their position. The Company has been in a turnaround mode with a recent financing and an emphasis on boosting sales of its predictive tests of tumor response for various types of cancer. Revenues for the year are estimated at $22 M. Here is what we wrote on May 15,2013:
Also up today in the Rayno DX Portfolio are :
Alere (ALR $28.6) up 1.9% and a one year high.
Sequenom (SQNM $4.68) up 3.66%
Thermo Fisher (TMO $90.76) up 1.4% at an all time high
We will be attending the AACC (American Association of Clinical Chemistry) Meeting in Houston next week and will provide an update on many of our focus stocks.