div style="text-align: justify;"We have several firms out defending span style="font-weight: bold;"Illumina (NASDAQ:ILMN)/span after the co pre-announced 2Q results after the close and expecting revenues to be ~$161 MM, below prior guidance range of $168-173 MM. The miss was largely attributed to weakness in the array business: 1) Slowdown in GWAS as researchers await new content; 2) Softness in Foundation funding; amp; 3) Order delays (sequencers) as researchers are uncertain about grant money.br /br /span style="font-weight: bold;"- Deutsche Bank /spanreiterates Buy noting ST volatility does not reflect any change in fundamentals, which remain strong. ILMN est. that $10-15 MM of rev was impacted by delays in 1H’09, with some volatility expected in 3Q as well; however, stimulus benefit should make for a strong 4Q’09 (sequencing). Also, data from 1000 Genomes \should reinvigorate array growth in mid FY10 as rare variant content will drive ‘rich’ GWAS studies. Price tgt is lowered to ...