Cadence Design Systems Inc. Stock Outperforms Competitors Despite Losses On The Day

Dow Jones
2024-12-19

DJ Cadence Design Systems Inc. Stock Outperforms Competitors Despite Losses On The Day

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

Shares of Cadence Design Systems Inc. $(CDNS)$ slipped 3.25% to $301.24 Wednesday, on what proved to be an all-around rough trading session for the stock market, with the S&P 500 Index falling 2.95% to 5,872.16 and Dow Jones Industrial Average falling 2.58% to 42,326.87.

This was the stock's second consecutive day of losses.

Cadence Design Systems Inc. closed $27.75 short of its 52-week high ($328.99), which the company reached on June 20th.

Despite its losses, the stock outperformed some of its competitors Wednesday, as Fortinet Inc. $(FTNT)$ fell 4.36% to $93.36, Synopsys Inc. $(SNPS)$ fell 3.41% to $494.43, and Palo Alto Networks Inc. (PANW) fell 6.20% to $188.76.

Trading volume (1.7 M) remained 258,895 below its 50-day average volume of 1.9 M.

Data source: Dow Jones Market Data, FactSet. Data compiled December 18, 2024.

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(END) Dow Jones Newswires

December 18, 2024 16:44 ET (21:44 GMT)

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