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Affy Shares Continue to Slide One Day After Bank Downgrades Stock

NEW YORK, July 12 (GenomeWeb News) - Shares in Affymetrix continued to slide today, one day after an investment firm downgraded the company's stock.


Shares in the microarray leader were down 7.8 percent, or 4.60, at $54.60 in mid-afternoon trading since Robert W. Baird on Monday downgraded the stock to "underperform" from "market perform." The stock was down 3.9 percent since yesterday's close.


As GenomeWeb News reported, the investment bank said that "While we continue to believe Affymetrix will maintain its dominant position with robust growth potential, we think current estimates already adequately reflect anticipated future revenue and earnings," according to Marketwatch.

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