Premarket Alert: Myriad Genetics (MYGN)

Posted in pre-market 
July 1st, 2009

Myriad Genetics (Nasdaq: MYGN) shares are down more than 15 percent on very strong premarket trading volume as of 7:40 a.m. Eastern. The company last night said it expects fiscal Q4 revenue of $86 million, shy of the $91.6 million analysts had anticipated, citing high unemployment and patients cancelling or delaying doctor visits.

Several analysis firms including Oppenheimer and RBC Capital have downgraded the company’s shares this morning, with several citing worries about revenue growth rates. — Mike Tarsala

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