Illumina Sparks Mean Gene Rally — Wednesday’s IP Market Recap

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tdp2664 InvestorPlace A hostile bid by Swiss health care company Roche (PINK: RHHBY ) for gene sequencer Illumina (NASDAQ: ILMN ) sent ILMN shares through the roof Wednesday and ignited rallies across the tiny sector. Roche is offering to buy Illumina for $5.7 billion, or $44.50 per share — about a 20% premium from ILMN's Tuesday closing price around $37.80. However, Illumina stock finished Wednesday at $55.15 per share — almost 46% higher. Roche is trying to corner the market in the DNA sequencing business — it’s currently the No. 3 player, behind Life Technologies (NASDAQ: LIFE ) and Illumina, the leader in market share at 65%. Other genetic-based businesses rose in suit, including Complete Genomics (NASDAQ: GNOM , +19.6%) and Pacific Biosciences of California (NASDAQ: PACB , +16.2%). Life Technologies also saw a relatively modest gain of 3.7%. Netflix (NASDAQ: NFLX ) was cruising in after-hours trading on a strong earnings report that also included a 2.5% increase in subscribership. The company reported earnings of $41 million, or 73 cents per share, beating analyst estimates of 55 cents, though down 16% from the year-ago period. NFLX shares were trading up more than 10% in after-hours trading. A couple other big movers on Wednesday came from the airlines industry, where US Airways (NYSE: LCC , +17.3%) and Delta Air Lines (NYSE: DAL , +6.2%) both gained ground after their morning earnings reports beat Wall Street expectations. Heading the other direction after earnings were Xerox (NYSE: XRX , -9.9%) and Corning (NYSE: GLW , -10.7%) — though InvestorPlace Editor Jeff Reeves thinks the dip in GLW shares might be a good buy-and-hold opportunity . Three Up Yamana Gold (NYSE: AUY ): Up 9.8% ($1.51) to $16.92. Research In Motion (NASDAQ: RIMM ): Up 8.6% ($1.29) to $16.30. Apple (NASDAQ: AAPL ): Up 6.2% ($26.25) to $446.66. Three Down Fusion-io (NYSE: FIO ): Down 16% ($4.84) to $25.50. ( Read more about Fusion-io here .) LM Ericsson (NASDAQ: ERIC ): Down 15.5% ($1.59) to $8.64. WellPoint (NYSE: WLP ): Down 4.8% ($3.30) to $66.10. Kyle Woodley is the assistant editor of InvestorPlace.com. As of this writing, he did not hold a position in any of the aforementioned securities. Check out recaps from previous trading days here .