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 per share and $1.18 billion, respectively. The company also hiked up its midpoint outlook for non-GAAP earnings per share in 2024.
While third-quarter results topped expectations from analysts surveyed by LSEG, investor attention focused on full-year guidance that came in at the low end of the previously set range. F5 — The cloud services company jumped 10% following stronger-than-predicted earnings in the fourth fiscal quarter. F5 posted $3.67 in adjusted earnings per share and $747 million in revenue. Analysts polled by LSEG had anticipated just $3.45 per share on $731 million in revenue for the quarter.