DJ Cadence Design Systems Inc. Stock Outperforms Competitors On Strong Trading Day
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Shares of Cadence Design Systems Inc. $(CDNS)$ rallied 3.25% to $299.30 Tuesday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index rising 0.92% to 6,067.70 and the Dow Jones Industrial Average rising 0.31% to 44,850.35.
The stock's rise snapped a two-day losing streak.
Cadence Design Systems Inc. closed 9.02% short of its 52-week high of $328.99, which the company reached on June 20th.
The stock outperformed some of its competitors Tuesday, as Fortinet Inc. $(FTNT)$ rose 3.16% to $99.83, Synopsys Inc. $(SNPS)$ rose 3.01% to $526.12, and Palo Alto Networks Inc. (PANW) rose 1.92% to $192.94.
Trading volume (2.3 M) eclipsed its 50-day average volume of 1.6 M.
Data source: Dow Jones Market Data, FactSet. Data compiled January 28, 2025.
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(END) Dow Jones Newswires
January 28, 2025 16:42 ET (21:42 GMT)
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