DJ Cadence Design Systems Inc. Stock Outperforms Competitors On Strong Trading Day
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Shares of Cadence Design Systems Inc. $(CDNS)$ rallied 1.92% to $282.41 Friday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index rising 1.02% to 5,099.96 and the Dow Jones Industrial Average rising 0.40% to 38,239.66.
The stock's rise snapped a three-day losing streak.
Cadence Design Systems Inc. closed $44.95 below its 52-week high ($327.36), which the company reached on March 21st.
The stock demonstrated a mixed performance when compared to some of its competitors Friday, as Fortinet Inc. $(FTNT)$ rose 0.23% to $64.18, Synopsys Inc. $(SNPS)$ rose 2.56% to $543.66, and Palo Alto Networks Inc. (PANW) rose 0.91% to $291.42.
Trading volume (2.1 M) eclipsed its 50-day average volume of 1.5 M.
Data source: Dow Jones Market Data, FactSet. Data compiled April 26, 2024.
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(END) Dow Jones Newswires
April 26, 2024 16:46 ET (20:46 GMT)
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