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Cepheid Shares Tank On Weak Outlook

( - Cepheid (

) Tuesday detailed a weak outlook for the third quarter and fourth quarter, sending its shares down a near 12 percent in the after hours trading.

The Sunnyvale, California-based company expects third-quarter loss of about $0.32 per share and adjusted loss of about $0.13 per share.

The larger than expected loss was primarily driven by lower gross margin, which is expected to be around 46 or 48 percent excluding the same items.

Cepheid expects total revenues for the third quarter of about...