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Cadence Design jumps after upbeat 2026 forecast

By Reuters News

** Shares of chip design software provider Cadence Design Systems CDNS.O jump 7.6% to $346.54

** Stock is trading above its 100-day moving average for the first time in over two weeks

** Stock on track for its biggest one-day percentage gain since June 1

** The 100-day moving average is a closely watched measure of a stock's long-term trajectory

** CDNS raises 2026 adjusted profit forecast to $8.37-$8.43 per share from $8.05-$8.15 per share

** Raises 2026 revenue forecast to $6.387 billion-$6.417 billion from $6.26 billion-$6.34 billion

** Posts Q3 revenue of $1.63 billion, compared with analysts' estimates of $1.61 billion - data compiled by LSEG

** Stifel says co's Maestro offers it an alternative to AI partnerships, combining specialized models while keeping Cadence as customers' primary design interface

** Including session's moves, stock up over 11% YTD

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