"Cadence Design Systems Stock Drops Due to Outlook"

Cadence Design Systems beat fourth-quarter earnings expectations but missed sales and earnings guidance for the current quarter, causing its stock to fall more than 6% in after-hours trading. The company's full-year guidance, however, exceeded Wall Street's estimates. CEO Anirudh Devgan expressed optimism about future opportunities in AI and 3D IC. Despite the disappointing outlook, CDNS stock remains on three IBD stock lists and ranks third in IBD's Computer Software-Design industry group.