Cadence Design Stock Drops 4% on Lower-Than-Expected Q1 Guidance
Cadence(CDNS) The Motley Fool·2024-02-14 10:58
Shares of Cadence Design Systems (CDNS -4.00%) declined 4% on Tuesday, following the electronics design specialist's release on the prior afternoon of its fourth-quarter 2023 report. This drop is likely mainly attributable to first-quarter 2024 guidance coming in lighter than Wall Street had expected for both revenue and adjusted earnings. Shares might have also gotten a headwind from the broader market, as all the major indexes were down due to the government's release of the consumer price index (CPI) for ...