** Shares of gene sequencing equipment maker Illumina ILMN.O rise 3.7% in extended trading
** Company to cut $100 million in spending after China announced a ban on imports of its genetic sequencing instruments
** ILMN says that the savings would mitigate the impact of a potential reduction in revenue and related operating income from the company's Greater China business
** Company also lowered its 2025 forecast for adjusted profit to be about $4.50 per share compared with a prior view of $4.50 to $4.65 per share
** "Our new fiscal 2025 guidance provides for limited further earnings contribution from China, and assumes a continuation of the macro trends we see today," said CFO Ankur Dhingra
** Up to last close, stock down 35.7% YTD
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com))
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