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Cadence Slides 4.08% Despite Strong Monthly Gain
The chip-design software maker fell as major indexes also declined, with its Oct. 26 earnings report next on investors' calendar.
Key takeaways
- Cadence shares closed at $334.20, down 4.08% on Oct. 13.
- Analysts expect earnings of $2.04 per share in the Oct. 26 report.
Cadence Design Systems shares fell 4.08% to close at $334.20 on Oct. 13. The S&P 500 lost 0.02%, the Dow fell 0.35% and the Nasdaq declined 0.15%.
Despite the session drop, Cadence shares gained 24.85% over the past month, outpacing the Computer and Technology sector and the S&P 500, according to the article.
Investors are awaiting the company's Oct. 26 earnings report. Analysts expect earnings of $2.04 per share, while the Zacks consensus estimate calls for quarterly revenue of $1.61 billion.
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Further reading
This article was produced with the help of AI technology. Source: Yahoo Finance
