Check out the companies making headlines in midday trading: Cadence Design Systems — The electronic design stock jumped 5% after third-quarter earnings topped Wall Street expectations.
Cadence Design earned $1.64 per share, excluding items, on $1.22 billion in revenue, while analysts surveyed by LSEG penciled in just $1.44 in earnings per share and $1.18 billion in revenue.
The company also hiked up its midpoint outlook for non-GAAP earnings per share in 2024.
Analysts polled by LSEG had anticipated just $3.45 in earnings per share on $731 million in revenue for the quarter.
Trex reported adjusted earnings of 37 cents per share in the third quarter, while analysts anticipated just 32 cents, per FactSet.
Persons:
LSEG, Ford, Trex, Jim Conroy, John Hazen, Conroy
Organizations:
Systems, Cadence, LSEG, Revenue, Ross Stores
Locations:
The Colorado