DJ Cadence Design Systems Inc. Stock Outperforms Competitors On Strong Trading Day
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Shares of Cadence Design Systems Inc. $(CDNS)$ advanced 1.26% to $285.19 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index rising 1.03% to 5,180.74 and the Dow Jones Industrial Average rising 0.46% to 38,852.27.
This was the stock's third consecutive day of gains.
Cadence Design Systems Inc. closed $42.17 short of 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 Monday, as Fortinet Inc. $(FTNT)$ fell 0.12% to $58.81, Synopsys Inc. $(SNPS)$ rose 1.60% to $545.54, and Palo Alto Networks Inc. (PANW) rose 1.47% to $300.57.
Trading volume (1.0 M) remained 533,705 below its 50-day average volume of 1.5 M.
Data source: Dow Jones Market Data, FactSet. Data compiled May 6, 2024.
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(END) Dow Jones Newswires
May 06, 2024 16:45 ET (20:45 GMT)
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