Cadence Design Systems Inc. Stock Underperforms Friday When Compared To Competitors Despite Daily Gains

Dow Jones
2024-11-30

DJ Cadence Design Systems Inc. Stock Underperforms Friday When Compared To Competitors Despite Daily Gains

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of Cadence Design Systems Inc. $(CDNS)$ inched 0.70% higher to $306.81 Friday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index rising 0.56% to 6,032.38 and the Dow Jones Industrial Average rising 0.42% to 44,910.65.

The stock's rise snapped a two-day losing streak.

Cadence Design Systems Inc. closed $22.18 below its 52-week high ($328.99), which the company reached on June 20th.

The stock underperformed when compared to some of its competitors Friday, as Fortinet Inc. $(FTNT)$ rose 1.05% to $95.05, Synopsys Inc. $(SNPS)$ rose 1.96% to $558.49, and Palo Alto Networks Inc. (PANW) rose 0.90% to $387.82.

Trading volume (888,708) remained 1.0 million below its 50-day average volume of 1.9 M.

Data source: Dow Jones Market Data, FactSet. Data compiled November 29, 2024.

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(END) Dow Jones Newswires

November 29, 2024 16:46 ET (21:46 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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