DJ Cadence Design Systems Inc. Stock Outperforms Competitors On Strong Trading Day
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Shares of Cadence Design Systems Inc. $(CDNS)$ inched 0.58% higher to $294.19 Tuesday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index rising 0.11% to 5,842.91 and the Dow Jones Industrial Average rising 0.52% to 42,518.28.
The stock's rise snapped a two-day losing streak.
Cadence Design Systems Inc. closed $34.80 short of its 52-week high ($328.99), which the company achieved on June 20th.
The stock demonstrated a mixed performance when compared to some of its competitors Tuesday, as Fortinet Inc. $(FTNT)$ fell 1.43% to $92.49, Synopsys Inc. $(SNPS)$ rose 0.60% to $490.36, and Palo Alto Networks Inc. (PANW) rose 1.64% to $170.58.
Trading volume (1.2 M) remained 366,998 below its 50-day average volume of 1.6 M.
Data source: Dow Jones Market Data, FactSet. Data compiled January 14, 2025.
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(END) Dow Jones Newswires
January 14, 2025 16:44 ET (21:44 GMT)
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