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Caris & Company Upgrades Affy Stock to 'Above Average;' Shares Up 6 Percent

NEW YORK (GenomeWeb News) — Shares in Affymetrix were trading up 6.2 percent at $28.31 this afternoon, and an investment bank upgraded the stock to ‘above average’ from ‘average.’
Caris & Company made the upgrade after Affy’s fourth-quarter earnings per share beat analysts’ expectations.
As GenomeWeb News reported this morning, Affymetrix said fourth-quarter revenues decreased 6.5 percent as R&D spending remained flat and profit plummeted 72 percent.

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