DJ Cadence Design Systems Inc. Stock Outperforms Competitors Despite Losses On The Day
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Shares of Cadence Design Systems Inc. $(CDNS)$ slid 1.40% to $301.56 Monday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index falling 1.20% to 5,061.82 and Dow Jones Industrial Average falling 0.65% to 37,735.11.
This was the stock's second consecutive day of losses.
Cadence Design Systems Inc. closed $25.80 below its 52-week high ($327.36), which the company reached on March 21st.
Despite its losses, the stock outperformed some of its competitors Monday, as Fortinet Inc. $(FTNT)$ fell 2.59% to $64.73, Synopsys Inc. $(SNPS)$ fell 2.38% to $543.91, and Palo Alto Networks Inc. (PANW) fell 2.48% to $272.15.
Trading volume (1.3 M) remained 142,354 below its 50-day average volume of 1.5 M.
Data source: Dow Jones Market Data, FactSet. Data compiled April 15, 2024.
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(END) Dow Jones Newswires
April 15, 2024 16:45 ET (20:45 GMT)
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