Illumina (ILMN, Financial), which makes genotyping, next-generation sequencing, and gene-expression tools, declined on news that it plans to buy a company that is developing an early cancer detection test. Although the transaction could strengthen Illumina's long-term position, it will likely be highly dilutive to earnings, as the acquired company is expected to contribute minimally to revenue until 2025.
From Spiros Segalas (Trades, Portfolio)' Harbor Capital Appreciation Fund third-quarter 2020 commentary.
