BLUD Is Bleeding Today After Missing Expectations. F2011 Guidance Lowered

Immucor Inc.

shares are currently trading down 24% intra day after disappointing 1Q11 results announced today. In a research note, PiperJaffray writes, "Immucor announced disappointing 1Q11 revenue results, missing both our and Street consensus expectations. EPS fell short of our expectations, but were in line with the Street. Echo P.O. (26 vs. PJC: 48) and Neo P.O.s (18 vs. PJC: 24) both fell short of our expectations. Due to a challenging economic environment, management lowered F2011 revenue, EPS and instrument P.O. guidance. We maintain our Neutral rating and $20 price target with a downward bias heading into the conference call." BLUD is currently trading at $15.29.