ILMN's earnings report is right around the corner. Here's a quick overview of what's going on:

Illumina Inc (ILMN) is going to report earnings on August 11. Here's a few things you should know about before the report drops.

Analyst opinions suggest Illumina Inc will report an EPS (earnings per share) of 
$0.64, GAAP of $0.36, on revenue of $1.22B on Thursday. Over the last 90 days, analysts have lowered estimates 12 times and not raised them once.

Bulls will want to hear that the company beat the analysts' estimates and that the beat is on unexpectedly higher revenues. They'll also want the company to paint a picture that leads analysts to conclude this is just the start of an robust growth story that will play out in the following quarters.

Bears, on the other hand, will look to pounce if the company misses on EPS, Revenues, or future guidance. They will look to push a negative growth story for the stock in the coming quarters, and will gain more traction in a generally down market as opposed a market that is generally trending upwards.

If you haven't traded too many earnings reports, it's important to be aware that sometimes the majority of a stock's price movement can be caused by the analysts' estimates, rather than from the earnings report itself. As you see more of these, your ability to recognize one or the other will improve.

As of August 03 shares of ILMN are trading at $219.14. Over the last 52-week period, the price is down -58.34%. A larger move here can mean investors will have a stronger bullish or bearish outlook on the stock.