Illumina up after CEO to join Trump's China trip

Shares of Illumina ILMN.O rise 2% to $145.31

More than one dozen CEOs and top executives, including Illumina CEO Jacob Thaysen, will join the U.S. delegation as President Donald Trump travels to China this week, a White House official said on Monday

ILMN's China revenue peaked out at ~502 million in 2021 and has since declined to ~242 million in 2025

Co has faced headwinds in the region after being placed on China's "unreliable entity list," followed by a March 2025 decision by the Ministry of Commerce (MOFCOM) to ban exports of its sequencers into China

However, MOFCOM said in November 2025 that it would lift the export ban, raising expectations of a recovery in the company's China business

Evercore ISI says the U.S. delegation with Trump could hint at a potential easing of restrictions, including smoother processes for customers purchasing the company's sequencing instruments

"We see this as an incremental positive development and not surprised to see the stock up today – if the ban were to be lifted, China could go from being a headwind to a tailwind" - brokerage

Including session moves, stock up 10% YTD