Cadence Design Systems Inc. Stock Rallies 4.2%, Outperforms Market

Dow Jones09-22 04:35

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

Shares of Cadence Design Systems Inc. rose 4.2% to $294.90 on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index rising 1.5% to 7,764.70 and the Dow Jones Industrial Average rising 0.7% to 52,048.83.

This was the stock's fourth consecutive day of gains.

Cadence Design Systems Inc. closed 29.2% below its 52-week high of $416.69, which the company achieved on June 2nd.

The stock demonstrated a mixed performance when compared to some of its peers, as Fortinet Inc. rose 3.2% to $175.23, Synopsys Inc. rose 4.4% to $401.85, and Palo Alto Networks Inc. rose 2.25% to $371.76.

Trading volume totaled 2.3 million, compared to the 50-day average of 2.4 million.

Data source: Dow Jones Market Data, FactSet

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